ANN ARBOR, Mich. (Michigan News Source) – As rumors swirled about the Indiana Hoosiers head men’s basketball coaching position, University of Michigan Director of Athletics Warde Manuel ended any speculation of Dusty May leaving.

Manuel agreed to a new multiyear contract for May that is a five-year deal.

The multiyear contract.

MORE NEWS: Detroit City Council Wants Residents to Pass Gun Storage Training Before Being Able to Buy a Firearm

Manuel says, “I am excited to announce that Dusty and I have agreed to a new multiyear contract. His commitment to the University and the success of the men’s basketball program has far exceeded our expectations and makes us all excited for what the future holds. I look forward to Dusty, Anna, and his family remaining a part of the fabric of this University and community for many years to come.”

May is in his first year at Michigan after coming to Ann Arbor from Florida Atlantic University. He originally signed a four-year contract for $3.75 million. The new deal, which hasn’t been finalized, is worth $4.65 million annually with a $100,000 raise yearly.

Go Blue.

May spoke about his gratitude for continuing with the Wolverines. “I am grateful to Warde, UM President Santa Ono, and all the members of the Board of Regents for the trust and support they have given me as the head coach,” May said. “My goal is to bring continued success to this historic program.”

May continued, “We cannot reach that goal without the hard work that my staff and players put into this program. We have built a solid foundation; however there is much more work to be done. I look forward to those challenges and what the future holds for me and my family in Ann Arbor,” he said.

Speculation of May’s name for Indiana’s job started recently as he began his coaching career at Indiana under Bob Knight. May has turned the Michigan program around in his first season with 20 wins after they were 8-24 last year. The Wolverines have climbed into the top 15 and a chance to win the Big Ten championship.