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.
Aug 22, 2014, 7:30 PM EDT
Missouri has a fair amount of quality teams on its non-conference schedule.
Aug 22, 2014, 6:10 PM EDT
An Oregon State incoming guard is improving in the hospital after collapsing earlier in the week.
Aug 22, 2014, 5:05 PM EDT
College Basketball Talk’s recruiting column explores the week’s topics.
Aug 22, 2014, 3:20 PM EDT
Dominic Woodson is now officially a Tennessee Volunteer.
Aug 22, 2014, 2:37 PM EDT
Aaron Brown averaged 9.9 points per game and shot 39 percent from three last season, and he’ll be eligible to play immediately.
Aug 22, 2014, 1:28 PM EDT
Having stated their intention of appealing the ruling in the Ed O’Bannon lawsuit, the NCAA filed a notice of appeal on Thursday.
Aug 22, 2014, 12:07 PM EDT
Five-star center Tyler Davis becomes Texas A&M’s first commitment, and he’s an important addition for Billy Kennedy.
Aug 22, 2014, 11:15 AM EDT
Austin Hatch, who saw his first action in a Michigan uniform on Saturday, discussed his return to the court on The Today Show.
Aug 22, 2014, 10:30 AM EDT
Upon completion, Hinkle Fieldhouse will have a brand new look while preserving the building’s storied past.
Aug 22, 2014, 9:44 AM EDT
The conference tournament will now span five days, with there being a doubleheader on Wednesday, March 11 (11 seed vs. 14 seed, 12 seed vs. 13 seed).
Aug 21, 2014, 11:06 PM EDT
More than two months after his older brother left the football program, Mickey Mitchell has decided to decommit from Ohio State.
Aug 21, 2014, 10:14 PM EDT
6-foot-7 forward Kevin Puryear was a point forward for his high school team last season.
Aug 21, 2014, 8:45 PM EDT
The Toronto Blue Jays aren’t thrilled with Creighton filing an application to trademark its logo, which was unveiled last September.
Aug 21, 2014, 7:21 PM EDT
Rick Barnes entered last season on nearly every pundit’s “hot seat” rankings, only to turn things around and win 24 games.
Aug 21, 2014, 5:55 PM EDT
Mo’ne Davis is currently focused on winning a LLWS title, but down the line she really wants to run the point at UConn.
Aug 21, 2014, 4:37 PM EDT
Aaron McKie ranks sixth on Temple’s all-time scoring list, and he played 13 seasons in the NBA.
Aug 21, 2014, 3:57 PM EDT
UConn’s league schedule is only getting weaker. They need to beef up in the non-conference.
Aug 21, 2014, 3:19 PM EDT
A quick explanation of why John Calipari can be a great coach without being a great x’s-and-o’s coach.
Aug 21, 2014, 1:45 PM EDT
Do you agree with that ranking?
Aug 21, 2014, 12:46 PM EDT
But would hiring Cremins be a way to get Anthony Johnson the job?
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