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.
Jul 30, 2015, 2:37 PM EDT
The Crusaders are getting back the league’s defensive player of the year.
Jul 30, 2015, 1:25 PM EDT
Tyndall’s one NCAA tournament win sure was memorable.
Jul 30, 2015, 12:03 PM EDT
The cousin of former Pitt forward Chevon Troutman has developed into a quality recruit himself.
Jul 30, 2015, 11:43 AM EDT
Jul 30, 2015, 10:12 AM EDT
Nigel Hayes has game. He doesn’t have bars.
Jul 29, 2015, 11:40 PM EDT
According to the report SMU met with the NCAA Committee on Infractions last month.
Jul 29, 2015, 10:35 PM EDT
Harding won’t join the program until 2018 however, as he’ll be taking his two-year LDS mission beforehand.
Jul 29, 2015, 8:50 PM EDT
Director of player personnel Travis Diener is pegged as the best player in the games, with he and assistant Chris Carrawell trading some good-natured shots at each other.
Jul 29, 2015, 8:17 PM EDT
Only Aqeel Quinn, who’s out of eligibility, made more three-pointers for the Aztecs last season than Shrigley.
Jul 29, 2015, 6:42 PM EDT
All three programs made Davis a focal point in Las Vegas last weekend.
Jul 29, 2015, 5:15 PM EDT
Notes on Vance Jackson, Brendan Bailey and Javonte Smart included.
Jul 29, 2015, 3:17 PM EDT
I’m OK with this becoming a thing all August.
Jul 29, 2015, 2:30 PM EDT
Tyson Waterman is the latest victim in the fallout from the Southern Miss scandal.
Jul 29, 2015, 1:30 PM EDT
That’s now two of Kentucky’s elite freshmen with concerns looming.
Jul 29, 2015, 12:00 PM EDT
Bruce Pearl was fired by Tennessee for lying about a barbecue.
Jul 29, 2015, 10:30 AM EDT
See which schools are still in play for one of the top rising juniors
Jul 29, 2015, 9:24 AM EDT
Suhr was on staff with the ‘Bad Boys’.
Jul 28, 2015, 10:04 PM EDT
Elijah Bryant will have three years of eligibility remaining.
Jul 28, 2015, 8:43 PM EDT
The Arkansas forward was charged with one count of forgery last week.
Jul 28, 2015, 7:45 PM EDT
The three-star forward failed to qualify earlier this month.
- Steady improvement turning Alize Johnson into valued Division I prospect 0
- Report: SMU’s Larry Brown up against ‘lack of coach control’ charge 0
- If the NCAA is correct, Donnie Tyndall is in big, big trouble 2
- Former Memphis forward Austin Nichols transferring to Virginia 3
- Saturday Las Vegas Recap: Zach Norvell goes off, Josh Jackson makes it look easy 0
- Thursday Las Vegas Recap: Dennis Smith and Frank Jackson battle; Lonzo Ball quiets critics; Wendell Carter talks visit 0
- Wednesday Las Vegas Recap: Dennis Smith vs Lonzo Ball; Frank Jackson faces Kobi Simmons 0
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- Is adidas giving their basketball programs throwback jerseys? (PHOTOS) (3)
- 7-foot-6 UCF center Tacko Fall throws down between the legs dunk (VIDEO) (3)
- United States wins bronze at Pan-Am Games (3)
- Former Memphis forward Austin Nichols transferring to Virginia (3)