BOULDER, Colo. -- Colorado coach Dan Hawkins will get a fifth season in Boulder instead of a pink slip and a $3.1 million buyout.

Athletic director Mike Bohn announced Thursday that he's sticking with his coach despite a 16-32 record, including 2-20 on the road. CU's record this season was 3-8.

"Dan is our coach," said Bohn. "We continue to have candid, constructive discussions with each other, with campus leadership and with related constituents to review all aspects of the football program. We recognize the importance of continuity to reach our desired competitive results. We have made progress on many fronts, but fully realize the importance of improvement and growth of the program in all areas."

The Buffs have endured four consecutive losing seasons under Hawkins, who has cleaned up a program tarnished by scandal under his predecessor, Gary Barnett, but has been unable to find success on the field.

The Buffaloes (3-8, 2-5 Big 12) wrap up their season Friday against Big 12 North champion Nebraska (8-3, 5-2). The game will be broadcast at 1:30 p.m. on Denver's 7.

Hawkins met with CU chancellor Phil DeStefano earlier this week. DeStefano confirmed he agrees with Bohn's decision.

"I want all CU fans, supporters, and members of the University community to know that I support Athletic Director Mike Bohn's decision to honor coach Hawkins' contract and believe this decision is in the best interests of the University of Colorado at Boulder," DiStefano said. "Dan represents the university's values on and off the field, and his team has been competitive this year. He has done all that we have asked him to do, and although we all desire more victories, we also recognize starting over with a new coach right now takes us away from, not closer to, our goals for CU football. Our immediate task is to support Dan and the team as they take on our rivals from Nebraska, then to have a great recruiting season, and ultimately to put a team on the field that will return CU football to greatness."

Hawkins' contract with CU runs through the 2012 season. He originally signed a five-year agreement when hired prior to the 2006 season, and received an extension in October 2008 after a good start to the year before injuries took their toll. He earned a bowl berth the previous season.