PITTSBURGH (KDKA) – The University of Pittsburgh and Athletic Director Steve Pederson have agreed to terms on a five-year extension.

According to a statement from the university, the new contract runs through at least 2018.

The deal was announced by Chancellor Mark A. Nordenberg, who said the school is excited about moving to the Atlantic Coast Conference (ACC).

“With the University of Pittsburgh set to officially join the Atlantic Coast Conference on July 1, our athletic programs never have been better positioned for future success,” Nordenberg said.

Nordenberg also said the move to the ACC came as a result of a lot of hard work by Pederson over a span of two years.

“The ACC is a perfect fit for the University of Pittsburgh, and our receipt of their invitation reflects well on both our overall institutional strength and on the tremendous progress made in Pitt athletics under Steve’s guidance,” Nordenberg said. “As we begin this exciting new era of ACC competition, we all have high aspirations for each of our programs. The creativity, strength and stability of Steve’s continued leadership will be an important asset as we pursue those lofty goals.”

The contract extension comes as Pederson enters the 13th year of his tenure at Pitt.

“This is an exciting time to be at the University of Pittsburgh,” Pederson said in a statement. “I am fortunate to work with this great staff and together we are helping to guide each of our student-athletes as they aspire to excellence academically, athletically and personally. I appreciate the confidence the Chancellor has in our ability to keep Pitt athletics moving forward.”