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.
Feb 27, 2015, 11:01 AM EST
While the Wildcats continue to roll along, other one-seeds are up for discussion as the season moves into the month of March.
Feb 27, 2015, 9:55 AM EST
Leading by six with 34 seconds remaining in regulation, Michigan State looked to be on their way to a home win over Minnesota. Then they fouled three-point shooters on two separate occasions.
Feb 27, 2015, 8:07 AM EST
I hope you’re ready for a thrilling day of hoops.
Feb 27, 2015, 1:31 AM EST
Michigan State fouled three-point shooters on two separate occasions late in regulation, and it set the stage for an overtime loss at home.
Vanderbilt head coach Kevin Stallings apologizes for postgame outburst directed at freshman guard Wade Baldwin IV
Feb 26, 2015, 11:47 PM EST
The Vandy freshman taunted a Tennessee player as time expired in the Commodores’ win, and his head coach read him the riot act in the handshake line.
Feb 26, 2015, 10:29 PM EST
Who were the winners and the losers on the bubble on Thursday?
Feb 26, 2015, 9:17 PM EST
Tate scored a career-high 22 points Thursday night, and his move into the starting lineup has helped Ohio State.
Feb 26, 2015, 8:35 PM EST
Five year-old Nicholas Wince spent the entire day with West Virginia prior to their win over Texas, signing a National Letter of Intent as well.
Feb 26, 2015, 5:54 PM EST
Without Jordan McLaughlin, USC will have to rely on Julian Jacobs at the point in their final two regular season games.
Feb 26, 2015, 4:50 PM EST
In addition to a ruptured plantar fascia suffered in a loss to Florida in late-January, Ricky Tarrant also needs to undergo a procedure on his left knee.
Feb 26, 2015, 4:00 PM EST
Boeheim doesn’t seem pleased about the ruling.
Feb 26, 2015, 2:45 PM EST
This borders on criminal.
Feb 26, 2015, 1:37 PM EST
There aren’t many surprises here.
Feb 26, 2015, 12:54 PM EST
SMU will also be making a trip to visit Memphis.
Feb 26, 2015, 11:58 AM EST
This is incredible.
Feb 26, 2015, 11:19 AM EST
These are more understated than recent adidas uniforms.
Feb 26, 2015, 9:43 AM EST
Feb 26, 2015, 8:26 AM EST
Chris Jones was dismissed from the team on Sunday.
Feb 26, 2015, 12:38 AM EST
And No. 2 Virginia limited Wake Forest to 21.8% shooting without two starters.
Feb 26, 2015, 12:07 AM EST
The Duke defense is the biggest red flag on any true contender.
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