The Fordham University Board of Trustees unanimously approved to significantly increase the men's basketball budget, the school announced today.
The decision came during a meeting held on February 11.
The increase in funding will put the program's budget into the top third of schools in the Atlantic 10 Conference, according to a statement released by the school.
"The time is now and the will is there," Fordham president Joseph M. McShane said. "With this renewed commitment, we believe the Fordham basketball program will be a force in the A-10. We are determined to succeed."
Among one of the many issues discussed during the meeting was the continuing national search for a new head coach.
Interim coach Jared Grasso remains a "strong candidate", according to Executive Director of Intercollegiate Frank McLaughlin.
"The players have responded well to Jared, are playing hard every game and have made significant progress since Jared was appointed as head coach," McLaughlin added.
A decision on a new coach is expected no later than April.