Matt Painter has turned down Missouri's offer and will remain the men's basketball coach at Purdue, the school announced Wednesday afternoon.
The new contract extends through the 2018-19 season, but specific terms of the contract were not disclosed.
"We are thrilled to announce that Matt will continue his leadership of our men's basketball program at his alma mater," Purdue Athletics Director Morgan Burke said in a news release. "He has been at the helm of the winningest four-year period in the storied history of Boilermaker basketball, and we pledge to work with him to win championships."
Painter, who has coached the Boilermakers since 2005, led the team to a 26-8 record and a third round appearance in the 2011 NCAA Tournament.
"I am extremely excited about continuing my career at Purdue," Painter said in a press release. "I believe we have built something very special. At the same time, I feel we have much more ahead of us to accomplish."