LARAMIE, Wyo. -- The University of Wyoming has extended men's basketball coach Larry Shyatt's contract through April 2020.
Athletic director Tom Burman noted in a statement Wednesday that Shyatt was offered a job by an undisclosed NBA team but chose to remain at Wyoming.
Shyatt referred to "what might be considered a dream job, opportunity that we had to at least evaluate and look at" but declined to go into specifics about the job during a telephone news conference.
Shyatt said he and his wife feel lucky and proud to remain in Laramie.
Terms of the five-year deal with Shyatt include an increased base salary that escalates from $210,000 in 2015-16 to $230,000 in 2019-20. The numbers could increase with incentives for academic and athletic performance goals.
Wyoming also developed retention incentives of $100,000 each for assistant coaches Jeremy Shyatt and Allen Edwards. Associate head coach Scott Duncan's contract has been extended through the 2016-17 season.
"Coach Shyatt wanted most to recognize the achievements of his staff and reward them," Burman said. "We felt this was appropriate and will help to maintain the staff's continuity."
Shyatt is 103-60 at Wyoming. He recently completed his fifth season at Wyoming, guiding the Cowboys to their first berth in the NCAA tournament since 2002 and the program's first Mountain West Conference tournament championship.
Next season, the Cowboys bring back just one senior. The team will have eight newcomers, including six freshmen.
Shyatt said he's excited for the next season after working with the team over the last five weeks.
"I think we'd like to do it again," he said.