Robert Morris University and men's basketball coach Mike Rice have agreed to a three-year contact extension, the Post-Gazette has learned from a source close to the contract negotiations.

Financial terms of the deal were not disclosed.

A news conference is expected early next week to formally announce the extension.

When Rice was hired in April 2007, he received a five-year deal. This extension will now have him under contract with Robert Morris through the 2016-17 season because, in addition to this extension, the university had already picked up an option year on his contract.

In two seasons leading Robert Morris, Rice, who recently turned 40, has achieved tremendous success with the Northeast Conference program. He has compiled a 50-19 record, winning almost 73 percent of his games including a 31-5 mark (.861 winning percentage) in conference games.

In both seasons, Rice has propelled the Colonials to the Northeast Conference regular-season title and this past year he guided the Colonials into the NCAA tournament for the first time since 1992, where Robert Morris was upended in the first round by eventual national finalist Michigan State.

In each of the past two seasons, Rice, a former Pitt and St. Joseph's assistant who played at Fordham, has earned the conference's coach of the year award.