May 8, 2013, 3:52 PM EDT
When dealing with head coaching contracts these days, the key number to look for isn’t the number of years that he signs for.
It’s the buyout.
Rare is the case when a coach actually lives out the entirety of his contract. Usually, he leaves for a better job or ends up getting fired, which is why that buyout number becomes so important. How expensive will it be to make a change?
Fred Hoiberg is a perfect example. He signed a 10-year, $20 million contract extension with Iowa State in March, but it wasn’t until this week that we found out the numbers surrounding his contract. Hoiberg has a $2 million buyout if he leaves Ames, IA, for another school, which is a number big enough that it should keep Hoiberg a Cyclone for a long, long time. That’s a lot of money for a school — or a coach — to pony up.
But Hoiberg’s buyout if he leaves for an NBA job is just $500,000, which is significant for two reasons: A) Many people believe that Hoiberg’s next destination is going to be the NBA, and B) That kind of money is pocket change for an NBA franchise. From ESPN.com’s Myron Medcalf:
During our conversation in Ames a few months ago, he mentioned that he initially thought he’d begin his career in the NBA.
And I honestly believe that’s his next step. The buyout might deter college teams, but the NBA — he was an executive with the Minnesota Timberwolves after he retired in 2006 due to a heart condition — could be his final destination.
I think Hoiberg is one of the top young head coaches in America. He’s led the Cyclones to consecutive NCAA tournament appearances. And he’s enhanced the program’s recruiting pool.
But he’s an NBA coach or executive.
Bottom-line: Hoiberg isn’t leaving Iowa State for another college. That $2 million buyout could be $2, and I don’t think it would matter. He’s was born and raised in Ames. He was a Cyclone fan growing up and played his college ball there. His family is in the area. There’s a reason he’s called ‘The Mayor’.
If Duke or North Carolina came calling, that may be a different story.
But two trips to the NCAA tournament at Iowa State isn’t going to get you a job with one of the bluebloods.
For a guy that’s played in the NBA and has spent time as an executive in the NBA, that may be enough to get him some consideration for a job at that level.
You can find Rob on twitter @RobDauster.
May 27, 2015, 11:27 PM EDT
It’s safe to say that Sherman is no fan of the NCAA.
May 27, 2015, 9:05 PM EDT
The shot clock won’t have as much of an impact on offenses as lessening the physicality of the game.
May 27, 2015, 7:31 PM EDT
The 6-foot-11 center was originally expected to attend prep school before joining Memphis in 2016.
May 27, 2015, 5:38 PM EDT
The 6-foot-6 southpaw showed off his arm, and was accurate in doing so.
May 27, 2015, 3:20 PM EDT
Matthews is the recruit everyone forgets about.
May 27, 2015, 1:32 PM EDT
That numbers is half what it was in 2015.
May 27, 2015, 12:45 PM EDT
Self and his wife created the Assists Foundation.
May 27, 2015, 11:09 AM EDT
Reed broke a cop’s finger while resisting a shoplifting arrest.
May 27, 2015, 10:28 AM EDT
Miles is 47-49 in three years with Nebraska.
May 27, 2015, 9:27 AM EDT
This swing is ugly.
May 26, 2015, 10:00 PM EDT
DeAndre Ayton finally got a chance to play this spring and delivered in a big way.
May 26, 2015, 8:30 PM EDT
Point guard CJ Walker is focused on seven schools during the recruiting process.
May 26, 2015, 7:30 PM EDT
Four-star guard Maverick Rowan has a choice to make for his basketball future in the immediate future.
May 26, 2015, 6:15 PM EDT
Minnesota closed out its 2015 recruiting efforts with its second incoming transfer of the offseason.
May 26, 2015, 4:45 PM EDT
The spring grassroots season is over and another spring EYBL season is complete.
May 26, 2015, 3:21 PM EDT
The schedule isn’t out yet, but each team now knows who they will play and where they will play them.
May 26, 2015, 2:01 PM EDT
RaShid Gaston averaged 15.5 points and 9.6 boards.
May 26, 2015, 1:40 PM EDT
Shaqquan Aaron could never crack Rick Pitino’s rotation.
May 26, 2015, 12:42 PM EDT
The only people that would punish are the people that had nothing to do with the violations in the first place.
May 26, 2015, 10:54 AM EDT
Collins has Northwestern trending in the right direction.
- There’s only one way the NCAA gets UNC investigation wrong: a 2016 postseason ban 33
- Academic issues expected to sideline St. John’s point guard for fall semester, maybe longer 6
- North Carolina announces receipt of Notice of Allegations from NCAA 3
- LSU’s ’25 is coming’ campaign doesn’t try to hide that they’re monetizing Ben Simmons 2
- Looking Forward: Catching up on the American’s offseason 1
- Five-star center Caleb Swanigan has committed to Purdue 8
- Friday’s most important rule changes only matter if refs actually enforce them 2
- There’s only one way the NCAA gets UNC investigation wrong: a 2016 postseason ban (36)
- Four men’s teams banned from 2016 postseason due to APR scores (10)
- Sports book lists Maryland as early favorite to win national title (9)
- Academic issues expected to sideline St. John’s point guard for fall semester, maybe longer (6)
- John Calipari is selling his program when he says national title isn’t a goal (5)