Manhattan, KS (Best E Casino) - Two days after losing one of the best players in the history of the program, Kansas State signed head men's basketball coach Frank Martin to a five-year contract on Wednesday.

Martin's new deal, which runs through the 2011-12 season, will pay a base salary of $180,000 per season, and an extra $40,000 over the next four seasons in television, radio and Internet appearances, as well as shoe and apparel sponsorships. The contract is retroactive to last season.

Martin was named head coach at K-State in the summer of 2007, when Bob Huggins left after just one season in Manhattan to take over at West Virginia. Huggins' prized recruit, forward Michael Beasley, honored his commitment to the Wildcats, and that was a major reason why Kansas State went 21-12 and won its first NCAA Tournament game in 20 years.

Beasley announced that he will enter the NBA Draft on Monday.

"Frank and his staff have done a tremendous job of elevating our men's basketball program into one of the best in both the Big 12 and in the nation," said Kansas State vice president of institutional advancement and intercollegiate athletics Bob Krause. "We have great confidence in his ability to guide our basketball program and look forward to a long and prosperous relationship."

Kansas State finished in third place in the Big 12 with a 10-6 conference mark, the best finish in the Big 12 in program history. He became just the third coach at Kansas State to post 20 wins in his first season, joining Lon Kruger in 1986-87 and his mentor, Huggins.

"This is a day of great pride and joy for me and my family," said Martin. "It is great to share this day with the wonderful people of K-State. I am extremely grateful to Dr. Jon Wefald and Bob Krause for the opportunity to lead the basketball program at such a great university."

Martin joined the Kansas State staff in April 2006, after spending two seasons as an assistant coach at Cincinnati, first for Huggins and then for Andy Kennedy. Before his stint in Cincinnati, Martin spent four seasons as an assistant coach at Northeastern (2000-04) and worked 15 years on the high school level in Miami, Florida.