Skip to content

Fred Hoiberg, contract buyouts, and a shot at the NBA?

May 8, 2013, 3:52 PM EST

Fred Hoiberg AP

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.

Latest Posts
  1. More ridiculous plays from 2016 acrobat Kwe Parker at City of Palms (VIDEO)

    Dec 20, 2014, 10:00 AM EST

    (Nike) (Nike)

    Kwe Parker might only be a junior in high school, but he’s one of the best leapers in the country.

  2. Pregame Shootaround: A tremendous day of hoops filled with intriguing top-25 battles

    Dec 20, 2014, 9:00 AM EST

    TaShawn Thomas AP

    If you don’t feel like watching lower-tier bowl games, you’ll be happy to know that Saturday is loaded with great games.

  3. Eastern Kentucky’s 3-point shooting leads to blowout win over No. 18 Miami

    Dec 19, 2014, 10:13 PM EST

    AP AP

    Eastern Kentucky had 14 threes. Miami had 12 field goals.

  4. adidas puts wrong logo on Duje Dukan’s Wisconsin warmups (PHOTO)

    Dec 19, 2014, 8:59 PM EST

    Duje Dukan AP

    The senior forward is apparently playing for the Wisconsin Bearcats.

  5. New Year’s Resolutions: Villanova Wildcats

    Dec 19, 2014, 7:30 PM EST

    Getty Images Getty Images

    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.

  6. Markus Kennedy cleared to play immediately for SMU

    Dec 19, 2014, 6:49 PM EST

    AP AP

    The SMU forward missed the first 10 games.

  7. Two players questionable for Florida’s game against Wake Forest

    Dec 19, 2014, 6:15 PM EST

    AP AP

    The Gators could be shorthanded once again in Saturday’s non-conference contest with Wake Forest.

  8. Injured Indiana forward to return to school this spring

    Dec 19, 2014, 5:00 PM EST

    Landon Atterberry Devin Davis AP

    The Indiana sophomore was struck by a vehicle driven by a teammate back in November.

  9. FGCU announces addition of former VCU power forward

    Dec 19, 2014, 4:15 PM EST

    VCU v George Washington Getty Images

    Antravious Simmons averaged 0.7 points and 0.7 rebounds as a redshirt freshman at VCU.

  10. Friday’s Pregame Shootaround: No. 3 Arizona among three ranked teams in action

    Dec 19, 2014, 3:27 PM EST

    Stanley Johnson AP

    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.

  11. Injured senior guard leaves St. Bonaventure program

    Dec 19, 2014, 2:44 PM EST

    La Salle Explorers v St. Bonaventure Bonnies Getty Images

    Jordan Gathers had yet to play in a game this season after undergoing hip surgery in June.

  12. One suitor for Duke transfer hopes to land him despite not having an available scholarship

    Dec 19, 2014, 1:26 PM EST

    Livingstone v Duke Getty Images

    Kansas State is one of many programs looking to land Semi Ojeleye, but all of their scholarships are accounted for currently.

  13. POSTERIZED: UNLV commit Derrick Jones throws one down with force (VIDEO)

    Dec 19, 2014, 12:04 PM EST

    (Kelly Kline/Under Armour) (Kelly Kline/Under Armour)

    Jones’ dunk on five-star forward Cody Riley is one of the best you’ll see this year.

  14. New Year’s Resolutions: Duke Blue Devils

    Dec 19, 2014, 11:30 AM EST

    Getty Images Getty Images

    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.

  15. Weekend Preview: A loaded Saturday slate highlights the weekend

    Dec 19, 2014, 9:00 AM EST

    Dakarai Allen, Nigel Williams-Goss AP

    Oklahoma-Washington, Ohio State-North Carolina and UCLA-Kentucky are just three of the marquee matchups.

  16. Rebounding, foul shooting help No. 2 Duke make up for 19 turnovers in win over UConn

    Dec 19, 2014, 12:41 AM EST

    Mike Krzyzewski Mike Krzyzewski

    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.

  17. Late Night Snacks: No. 2 Duke, No. 6 Virginia move to 10-0

    Dec 18, 2014, 10:45 PM EST

    Ryan Boatright, Tyus Jones Ryan Boatright, Tyus Jones

    Also of note was Ole Miss avoiding what would have been their fourth home loss of the season.