SAN ANTONIO, TX - MARCH 25: Head coach Chris Mooney of the Richmond Spiders comforts Kevin Smith #12 after the southwest regional of the 2011 NCAA men's basketball tournament at the Alamodome on March 25, 2011 in San Antonio, Texas. Kansas defeated Richmond 77-57. (Photo by Jamie Squire/Getty Images)

Chris Mooney, Richmond Basketball Agree On 10-Year Contract Extension

After leading his team to the Sweet 16, Chris Mooney has signed a contract extension that will keep him as the Richmond basketball head coach for the next 10 seasons.

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Chris Mooney, Richmond Basketball Agree On 10-Year Contract Extension

Chris Mooney was potentially one of the hot names on the coaching market after leading his Richmond Spiders to the Sweet 16, but instead, he has decided to stay in Richmond for the long term. Mooney signed a 10-year contract extension on Sunday, according to the school.

"Chris Mooney has demonstrated that he is the right fit for the University of Richmond. He has attracted quality student-athletes and guided them to success both on the court and in the classroom," Richmond athletics director Jim Miller said. "This agreement clearly demonstrates Coach Mooney's and the University's commitment to the long-term success of Spider basketball."

A press conference to formally announce the decision is scheduled for 11 a.m. Monday morning.

Mooney has compiled a 112-87 record in six seasons with Richmond, showing tremendous improvement recently. This year, he guided the Spiders to a 29-8 record, their first Atlantic 10 Tournament championship and their second-ever Sweet 16 appearance. The 29 wins is also a school record.

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