Fisher signs extension with SDSU

Updated: August 20, 2003, 9:54 PM ET

SAN DIEGO -- Turning around San Diego State's once-moribund basketball program has paid off for Steve Fisher.

The coach signed a new five-year contract on Wednesday, with a one-year option that could take the deal through the 2008-09 season.

The new deal, negotiated by Rick Bay before he resigned as athletic director in May, replaces the six-year contract, with a one-year rollover, that Fisher signed when he was hired in March 1999.

Fisher receives a raise of just more than 10 percent, from $305,000 a year to $336,708 annually.

Fisher, 58, said this isn't necessarily going to be his last contract.

"I'm looking forward to serving out this contract and hopefully there will be more to come after that," said Fisher, who led the Aztecs to the NCAA tournament in 2002 and to the NIT last season.

Before Fisher was hired, the Aztecs' last postseason appearance was in 1985.

Fisher is 56-63 in four seasons and has had three straight seasons with a .500 or better record. San Diego State was 4-22 the season before he took over.

"We are tremendously happy where we are or we wouldn't have been looking for length with this contract," he said.

Fisher took Michigan to three national championship games in five years and recruited the "Fab Five" to Ann Arbor. He coached the Wolverines to the 1989 national title as interim head coach after Bill Frieder took the Arizona State job on the eve of the tournament.

In May, Michigan was barred from the next postseason and put on probation for 3{ years by the NCAA for payments from a booster to players dating to the Fab Five era.

Fisher's goal is to make San Diego State a postseason regular.

"I'm proud of the accomplishments we've had," Fisher said. "We've made some big, dramatic steps, and yet every coach wants more, every player wants more. We've raised those expectations from within. I do believe we will have a program that will grow."

Fisher agreed in principle to the new deal before Bay resigned on May 22, two weeks after a California State University auditor cited lax oversight in the athletic department and a mismanaged equipment room.

Fisher's contract was finalized after Gene Bartow was hired as interim athletic director, and he'll serve out the contract under a third AD, to be hired by the end of the year.

Fisher said he remains friends with Bay.

"We owe him a great deal for his belief that I was the right person to come to San Diego State in 1999," Fisher said.

Earlier this summer, Fisher dropped forward Evan Burns from the team for failing to meet academic requirements.

This story is from ESPN.com's automated news wire. Wire index