AMES, Iowa (AP) — Iowa State President Steven Leath says he’s “open minded” about how much the university is willing to pay its next basketball coach, adding that the school is looking for a return on its investment.

Leath spoke to reporters Thursday for the first time since Fred Hoiberg left to take over the NBA’s Chicago Bulls. Leath says he intends to interview all the finalists identified by athletic director Jamie Pollard and weigh in with his opinion before Pollard makes the final decision. Leath says the next coach’s contract would likely be loaded with performance incentives tied to the team’s success in the Big 12 and nationally.