Although they are decades removed from their heyday, the Hoosier State still holds Indiana basketball in high regard. Mike Woodson's efforts to build the program back into a noteworthy power are not being ignored. Nor are they going unrewarded.

The head coach is getting a $1 million annual raise and will now earn $4.2 million per year, according to ESPN. The university is clearly pleased by the team's back-to-back NCAA Tournament appearances and believes Woodson is the right man to lead Indiana through a revamped Big Ten Conference (will take shape in 2024-25).

His penchant for revitalizing struggling squads, which goes back to his NBA tenures with the Atlanta Hawks and New York Knicks, makes him one of the most underappreciated coaches in basketball today. The Hoosiers are looking to change that with this financial commitment.

Related Indiana Basketball NewsArticle continues below
McNeese State Cowboys head coach Will Wade during the first half of a second round men’s NCAA Tournament game against the Purdue Boilermakers at Amica Mutual Pavilion.
Will Wade adds elite Texas Tech transfer who just withdrew from NBA Draft
Duke Blue Devils head coach Jon Scheyer gives a thumbs up to his offense against the Georgia Tech Yellow Jackets during the second half at Spectrum Center.
Duke basketball lands 5-star Italian standout to replace Cooper Flagg
Air Jordan 9 PE, North Carolina Tar Heels, Michael Jordan
North Carolina Tar Heels unveil Air Jordan 9 PE

Woodson won 20 or more games in each of his first two seasons in Bloomington. He immediately ended a five-year NCAA Tournament drought (might have made the Big Dance in 2020 had it not been for COVID) and helped star big man Trayce Jackson-Davis reach his full potential and become one of the best players in school history. He also molded Los Angeles Lakers rookie point guard Jalen Hood-Schifino.

Fans hope all of that success is just a precursor of what is to come in the Mike Woodson era. The next barrier for Indiana basketball to clear on this road back to national relevancy is advancing to the second week of the NCAA Tournament. There is reason to believe that this longtime leader is up to the task. The school certainly thinks so, anyway.