Texas coach Shaka Smart signs extension through 2023, gets raise

AUSTIN, Texas -- Texas is giving men's basketball coach Shaka Smart a contract extension and pay raise.

Last season, Smart's team finished 23-10 and the Longhorns lost in the first round of the NCAA tournament. The school considered that good enough to give him an extra year on his original contract with an additional $100,000 per season.

With the changes, Smart will earn $3 million next season, and his contract now runs until 2023. The changes were approved Thursday by university regents; they discussed the contract behind closed doors.