Eric Olen has signed a five‑year agreement that ties him to the University of New Mexico through the 2030‑31 season, a move that comes with a $100,000 retention bonus slated for May 2026 and again in May 2027, and raises his average annual value from $1.3 million to $1.45 million.
A New Era for Lobo Basketball
In his debut season, Olen guided the Lobos to a 26‑11 record, capturing third place in the Mountain West and advancing to the NIT semifinals, while the team set a school‑record 3,004 points and saw freshman Jake Hall earn Mountain West Freshman of the Year honors after breaking the single‑season three‑point record with 117 makes.
The program will retain key contributors Jake Hall, Uriah Tenette and Chris Howell for the upcoming campaign, and the new contract reflects a broader investment that includes enhanced NIL opportunities for student‑athletes and expanded support‑staff compensation.
Olen’s trajectory mirrors his earlier success at UC San Diego, where he transformed a Division II program into a national contender before moving to Division I, a background that adds credibility to his vision for the Lobos and underscores the university’s commitment to elevating its basketball profile.