Associate head coach Wes Flanigan will take over the reins of UALR's men's basketball program, the university announced in an event at the Jack Stephens Center Thursday.
The official announcement comes three days after former head coach Chris Beard announced his departure to UNLV after a 30-5 season.
The Arkansas Democrat-Gazette reported the hiring in Thursday's paper.
According to an offer letter obtained by Democrat-Gazette reporter Troy Schulte, Flanigan's $300,000-a-year contract is for four seasons.
The university also raised the buyout the head coach owes the school if he leaves after a year, from $200,000 to $450,000, according to Schulte.
It was Beard's first season coaching the team and was capped with a Sun Belt Conference championship and an upset win over fifth-seeded Purdue in the NCAA Tournament.
Flanigan called Beard's tenure with the team "unbelievable," and jokingly tempered expectations for an undefeated season.
"My vision for [continuing] that success is making the tournament next year with this group of guys and winning one more game to play a second weekend," Flanigan said.
Flanigan, a Little Rock native, played for his father at Parkview High School before his college career at Auburn from 1993-1997.
He was previously an assistant at Little Rock from 2004-2008, and has also held assistant coaching positions at Nebraska, Mississippi State and the Alabama-Birmingham.
Read Friday's Arkansas Democrat-Gazette for full details.
Arkansas Online reporter John Moritz contributed to this story.