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.
Jan 30, 2015, 11:01 PM EST
Here is a rundown of all the action from Friday night.
Jan 30, 2015, 9:30 PM EST
The Jayhawks will wear these on Feb. 28.
Jan 30, 2015, 7:45 PM EST
That rivalry ended when Mizzou left the Big 12 in favor of the SEC.
Jan 30, 2015, 6:30 PM EST
Trey Davis left the court with only seconds remaining after colliding into a Kendall Pollard screen.
Jan 30, 2015, 5:45 PM EST
The backup guard has missed the last five games.
Jan 30, 2015, 5:09 PM EST
“Big Country,” Randy Rutherford and the rest of the squad is expected back for the team’s game against Kansas to celebrate the 20th anniversary of their trip to the Final Four.
Jan 30, 2015, 4:04 PM EST
Bruce Pearl expressed remorse over how his tenure at Tennessee ended and also remains thankful for former Tennessee AD Mike Hamilton.
Jan 30, 2015, 2:47 PM EST
Having already lost one game in Ivy League play, Harvard looks to bounce back with a win at Princeton.
Jan 30, 2015, 12:50 PM EST
Aaron White suffered a stinger in Iowa’s loss to Purdue, and Gabe Olaseni is dealing with a sprained ankle suffered Monday.
Jan 30, 2015, 11:43 AM EST
The donation will be used to improve the basketball offices and practice facility, with leftover funds being used for any improvements that may need to be made down the line.
Jan 30, 2015, 11:00 AM EST
Kansas’ incredibly rigorous schedule moves them to the top line in the latest update.
Jan 30, 2015, 10:35 AM EST
Thursday’s loss was a reminder of the fact that these current Utah players are still getting used to being the “hunted.”
Jan 30, 2015, 9:50 AM EST
While D’Angelo Russell gets most of the attention (and rightfully so), another freshman has stepped forward in the last two games for the Buckeyes.
Jan 30, 2015, 9:02 AM EST
The Super Bowl isn’t the only high-octane action we’ll see this weekend.
Jan 30, 2015, 12:19 AM EST
With Shannon Scott being a senior and D’Angelo Russell considered to be a possible lottery pick if he goes pro, JaQuan Lyle’s commitment is a nice insurance policy moving forward.
Jan 29, 2015, 10:57 PM EST
Ike Nwamu scored 20 points in the Bears’ 75-72 overtime win over Chattanooga, but should he have two (or three) more points to his credit?
Jan 29, 2015, 9:38 PM EST
Providence’s Kris Dunn posted the program’s first triple-double since 2006, and UMass held off Dayton in Amherst.
Jan 29, 2015, 8:44 PM EST
The third year of the event means an improved schedule, with all ten games being played on one day.
Bradley’s leading scorer one of three players facing disciplinary action following incident Thursday morning
Jan 29, 2015, 6:57 PM EST
Warren Jones is averaging a team-best 13.8 points per game for Bradley, which has lost six of its last seven games.
Jan 29, 2015, 5:46 PM EST
Leland King led Brown in scoring and was also tied for the team lead in rebounds per game.
- Weekend Preview: Duke-Virginia, an MVC showdown and UNC-Louisville 2
- Duke dismisses reserve shooting guard from program 13
- Chase for 180: Already a good shooter, Tyler Harvey’s been even better in 2014-15 0
- Film Session: The case for Jerian Grant as National Player of the Year 1
- Jerian Grant, No. 8 Notre Dame erase another double-digit deficit as they beat No. 4 Duke 7
- Late Night Snacks: No. 8 Notre Dame outlasts No. 4 Duke in a thriller 2
- 2015 McDonald’s All-American rosters announced 2
- Duke dismisses reserve shooting guard from program (13)
- Jerian Grant, No. 8 Notre Dame erase another double-digit deficit as they beat No. 4 Duke (7)
- Coach K earns career win No. 1,000 in No. 5 Duke’s win over St. John’s (4)
- Kentucky lands commitment from international Class of 2016 big man (4)
- Wichita State guard Conner Frankamp arrested on Saturday night (4)