The agreement will extend the term of Noel's contract for one-year. The financial terms of the deal have not been made public at the time of this writing. The coach was entering the final year of his contract in the 2013-14.
The club was in contention for a playoff spot towards the end of the 2013 season but ended four points shy of a postseason berth.
Apparently, that progress was enough to reward Noel with a longer leash. Gary Lawless of the Winnipeg Free Press had previously commented on what it means for a head coach to enter the final year of his contract without an extension and the message it sends to players that management doesn't have faith in the coach. Whether that is the case remains to be seen. However, Noel will have a bit more security than he previously would have entering 2013-14 season.
In 154 regular season games, Noel has accumulated a 154-71-64 record. He has yet to lead a team to the playoffs.