May 8, 2013, 3:52 PM EST
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.
Dec 20, 2014, 10:00 AM EST
Kwe Parker might only be a junior in high school, but he’s one of the best leapers in the country.
Dec 20, 2014, 9:00 AM EST
If you don’t feel like watching lower-tier bowl games, you’ll be happy to know that Saturday is loaded with great games.
Dec 19, 2014, 11:45 PM EST
Here’s a rundown of Friday night’s action.
Alex Mitola’s buzzer-beater three gives Dartmouth a 58-55 overtime win over Northern Illinois (VIDEO)
Dec 19, 2014, 11:12 PM EST
Alex Mitola ended with 18 points for the Big Green.
Dec 19, 2014, 10:13 PM EST
Eastern Kentucky had 14 threes. Miami had 12 field goals.
Dec 19, 2014, 8:59 PM EST
The senior forward is apparently playing for the Wisconsin Bearcats.
Dec 19, 2014, 7:30 PM EST
Villanova is off to another good start in the regular season, but heading into the New Year, the Wildcats will need to rack up the wins in postseason play.
Dec 19, 2014, 6:49 PM EST
The SMU forward missed the first 10 games.
Dec 19, 2014, 6:15 PM EST
The Gators could be shorthanded once again in Saturday’s non-conference contest with Wake Forest.
Dec 19, 2014, 5:00 PM EST
The Indiana sophomore was struck by a vehicle driven by a teammate back in November.
Dec 19, 2014, 4:15 PM EST
Antravious Simmons averaged 0.7 points and 0.7 rebounds as a redshirt freshman at VCU.
Dec 19, 2014, 3:27 PM EST
The Wildcats are on the road to take on one of Conference USA’s best teams in UTEP, and both No. 18 Miami and No. 20 St. John’s are in action as well.
Dec 19, 2014, 2:44 PM EST
Jordan Gathers had yet to play in a game this season after undergoing hip surgery in June.
Dec 19, 2014, 1:26 PM EST
Kansas State is one of many programs looking to land Semi Ojeleye, but all of their scholarships are accounted for currently.
Dec 19, 2014, 12:04 PM EST
Jones’ dunk on five-star forward Cody Riley is one of the best you’ll see this year.
Dec 19, 2014, 11:30 AM EST
When you talk Duke basketball in 2014-15, you start with Player of the Year candidate Jahlil Okafor, but there are plenty of other keys to Duke’s success as we get closer to the new year.
Dec 19, 2014, 10:30 AM EST
Patrick Cole has been suspended indefinitely.
Dec 19, 2014, 9:00 AM EST
Oklahoma-Washington, Ohio State-North Carolina and UCLA-Kentucky are just three of the marquee matchups.
Dec 19, 2014, 12:41 AM EST
Even with the win there are things Duke needs to improve upon, most notably the fact that they’ve committed 36 turnovers over the last two games.
Dec 18, 2014, 10:45 PM EST
Also of note was Ole Miss avoiding what would have been their fourth home loss of the season.
- Markus Kennedy cleared to play immediately for SMU 0
- Weekend Preview: A loaded Saturday slate highlights the weekend 4
- Rebounding, foul shooting help No. 2 Duke make up for 19 turnovers in win over UConn 0
- Michigan State starting forward to miss next two games with non-displaced wrist fracture 0
- Film Session: What’s plaguing Marcus Paige? 1
- Throwback Thursday: UConn ‘Shocks The World’ against Duke (VIDEO) 1
- New Year’s Resolutions: Virginia Cavaliers 1
- Gregg Marshall writes to Wichita State students after seeing empty seats in student section (PHOTO) (7)
- Report: David Robinson’s son will be preferred walk-on at Duke in 2015-16 (VIDEO) (6)
- West Virginia’s Bob Huggins torches Marshall after coach calls Huggs ‘afraid’ (5)
- Without Alex Poythress, No. 1 Kentucky’s offense looks comfortable in win over No. 21 North Carolina (4)
- Lauren Hill’s playing career over, to become honorary coach (4)