After one year on the job, Virginia Commonwealth University officials obviously liked what they saw in basketball Coach Will Wade.

On Tuesday, the 33-year-old Wade agreed to an “enhancement rich” contract that will extend his position through the 2023-24 season.

“Coach Wade did an excellent job with our program this year and we’re excited about the future,” said VCU Athletic Director Ed McLaughlin in a prepared announcement.

Financial details were not announced but McLaughlin said the pact will include “enhancements” (salary and other amenities) worth up to $750,000. The “enhancements” will be privately funded, McLaughlin said.

Last spring, Coach Wade signed a five-year deal as Shaka Smart’s successor worth about $1 million per year in base salary.

With added performance incentives this season, Wade picked up an additional $125,000.

“My wife (Lauren) and I love it here at VCU and we are excited about 2016-17 and beyond,” Coach Wade said.

The Rams were 25-11 this season while earning a share of the Atlantic 10 regular season championship and advancing to Round 32 of the NCAA Tournament with a win over Oregon State University.

VCU then was eliminated by the University of Oklahoma in a tense 85-81 match in which the Rams led twice during the second half. Oklahoma has since advanced to the Final Four.

Time became an issue with the contract extension. VCU felt its coach was in demand elsewhere and didn’t want to lose him.

Coach Wade’s name was mentioned earlier this week as a possible replacement for Kevin Stallings at Vanderbilt University in Nashville. Coach Stallings left Vanderbilt after 17 seasons to become coach at Pittsburgh.

Coach Wade is a native of Nashville and has deep family connections with the Southeastern Conference university.

VCU loses two starting seniors — Melvin Johnson and Korey Billbury — from this year, but a strong nucleus returns along with a promising group of recruits and red-shirts.

The Rams are likely to be a preseason pick to finish near or at the top of the Atlantic 10 Conference for the 2016-17 season.