Virginia Commonwealth coach Will Wade received a new deal from the school that runs through the 2024 season, the school announced Tuesday.
Wade originally signed a contract through 2020 worth $1 million annually when he replaced Shaka Smart after last season. The new contract also calls for unspecified program upgrades.
Wade went 25-11 in his first season as coach. The Rams lost to Final Four-bound Oklahoma in the second round of the NCAA Tournament.
"Coach Wade did an excellent job with our program this year, and we are excited about our program's future," athletic director Ed McLaughlin said in a statement. "He and I agreed completely on all of the enhancements that our program needed to continue our elite level of success."
Wade was targeted by Vanderbilt for its current job opening but Tuesday's development should end that flirtation.
"I am focused on VCU Basketball and the student-athletes within our program," Wade said in a statement. "My wife and I love it here at VCU and we are very excited about the 2016-17 season and beyond. Ed McLaughlin and I continually meet to assess the state of our program to ensure that we are employing the resources necessary to compete at the highest level.
McLaughlin was aware that Vanderbilt contacted Wade - who has family in Nashville, Tenn., where Vanderbilt is located - but wasn't concerned.
"While it is flattering whenever a member of your staff is talked about at other institutions, I never worried that Will wouldn't be our coach," McLaughlin said. "His commitment to VCU is unparalleled, and we look forward to him leading our men's basketball program for a long time."