Michigan coach John Beilein signed a restructured contract that extends through the 2018-19 season, the school announced Wednesday.
The three-year extension brings his total compensation to $2.45 million per year. Beilein came to Michigan from West Virginia in 2007 and agreed to a previous contract extension during the 2010-11 season.
The 60-year-old Beilein led the Wolverines in April to their first national championship game appearance in 20 years and a school record-tying 31 victories last season. Michigan lost 82-76 to Louisville in the NCAA final in Atlanta.
"I am very excited to have this opportunity to coach at the University of Michigan for at least five more years," Beilein said in a statement. "I am grateful that President (Mary Sue) Coleman and (athletic director) Dave Brandon are pleased with the direction of our program and have extended this offer of agreement. My staff and I will continue to work every day with our student-athletes to ensure they grow from this incredible educational opportunity. At the same time, competing for Big Ten championships will be the goal each and every year."
Beilein has a 673-403 overall record as a head coach and is 122-85 in six seasons at Michigan.