Steve Fisher has plenty of time to try to get San Diego State its elusive first NCAA Tournament win.

The 61-year-old Fisher signed a new five-year contract that keeps him with the Aztecs through the 2010-11 season. The deal includes a school option for two additional years. The new deal replaces the contract Fisher signed in August 2003, which had two years remaining.

“I feel very, very blessed to be in a place where not only I want to be, and feel very comfortable and happy, but the people who run the place want me to be here,” Fisher said Thursday after the school announced the deal. “We could not be more excited.”

Fisher, who signed the deal Wednesday, will make approximately $2.75 million total during the first five seasons of the contract, including salary and shoe and camp deals. Should both option years be exercised, the total value of the contract would be more than $4 million. Fisher can make more in bonuses tied to the team’s performance and ticket sales.

Fisher has turned SDSU from a perennial loser to a program that has played in the postseason three times in the last five seasons, including trips to the NCAA Tournament in 2002 and 2006.

The Aztecs tied a school record with 24 victories last season, winning the Mountain West Conference regular-season and tournament titles.

But they dropped to 0-5 all-time in the NCAA Tournament by losing to Indiana.

“Last year we thought we would win one,” said Fisher, who won the NCAA championship at Michigan in 1989. “You hope you have another chance to win a game. That’s all we can ask for. If we’re in that field of 64, that’s what you hope for and work for.

“We have high expectations,” Fisher added. “People in the community have higher expectations, probably than they ever have, for what our potential is. We have some pretty good players and four returning starters. If we can keep everyone healthy, and you can never control that, we know we have a a very, very good team.”

Fisher is 105-106 in seven seasons. He was hired in March 1999 to take over a team that finished 4-22 the previous season. He is the fourth-winningest coach in school history, eight victories shy moving into third place.

“We’re pretty excited about signing him up,” athletic director Jeff Schemmel said. “I couldn’t be more excited. He brings so much to the table.”