The financial side of college basketball coaching is nothing new.
That’s the business of coaching and it’s an area where the money is often the key.
Here’s a look at how one coach did it: Bob McElwain, Miami Hurricanes: McElvain is a legendary coach, but it wasn’t always so.
He earned his bachelor’s degree from George Washington University, then went to work for the Miami Hurricanes.
He was a member of the National Basketball Association’s coaching staff from 1977 to ’80.
He then spent four years with the Cleveland Cavaliers, where he coached the team that won NBA titles in 1981 and 1982.
He served as head coach for the Chicago Bulls from 1985 to 1990 before returning to his former stomping grounds.
The financial benefits are clear.
From his time with the Bulls, McElmaine earned $300 million in his coaching career, according to ESPN’s Adam Schefter.
He also earned $30 million from the NBA Players Association and $10 million from his own charitable foundation.
For a little more than $100,000, McIlroy could’ve gone back to school.
He received his master’s degree in finance at Duke University and was an assistant coach with the Duke Blue Devils for two seasons before he joined McElrides Hurricanes.
The two went on to play together at the University of Miami.
McElroy has gone on to coach at Florida State, Oklahoma State and the Duke University men’s basketball program.
“The salary cap is the biggest factor,” McElsley said.
“It’s one of those things where it’s going to be tough for any guy to compete for the same job or the same position in the NBA.
You’re going to have to have a very, very good team that has a lot of money.”
McElwood is now the head coach at South Florida.
He spent one season with the Miami Heat before he was fired in 2009.
Mark Stoops, Oklahoma City Thunder: Stoops is one of the most well-known college basketball coaches in the country, but his career in the game has been relatively uneventful.
He made his money in the big leagues and earned $150 million in five seasons at Kansas State, where his team won a national championship in 2011.
He went on, however, to play for the Oklahoma City Nuggets, who won two championships in five years and took the 2009 NBA championship.
The salary cap has changed a bit since then, but Stoops was still the head man of the Oklahoma State men’s team in 2012.
Michael Malone, Memphis Grizzlies: Malone, a former NBA player, has been a high-profile assistant for nearly 30 years.
He had a successful stint with the Philadelphia 76ers from 2009 to 2014, and he worked as an assistant for the Philadelphia Warriors in 2016.
The Grizzlies, who have been one of several teams to take an NBA team, have been paying Malone handsomely.
The Memphis Grizzlies have paid him $5 million per year for five seasons.
Kevin Sumlin, Louisville Cardinals: The former Kentucky Wildcats coach is widely respected in the college basketball world for his ability to develop talent in a relatively short amount of time.
He’s done that in his own way, hiring former NBA stars like Chris Paul and Damian Lillard, and working with some of the greatest players in the history of the sport.
Sumlin is now a coach at Louisville, and while the Cardinals have struggled to keep up with the NBA’s elite, they have made significant inroads.
Sumlins salary has been less than $200 million for three years, and that figure was about $50 million in 2015.
The Cardinals have a young core of young talent.
They have also been among the NBA teams to pay Sumlin handsomely in the past.
Dave Rice, Indiana Pacers: Rice was the head men’s coach at Virginia Tech from 1996 to 1998 and then went on in 1998 to coach the San Antonio Spurs.
He has been the head basketball coach at Indiana since 2010.
He is one reason why Rice is being paid handsomely for his work with the Pacers.
The last time Rice was paid $200m was for the 2016-17 season, when the Pacers made a playoff run.
Rice is a graduate of the University for the Blind, which provides assistance for students with disabilities.
Mike Krzyzewski, Duke Blue Devil: Krzyzykis salary is not the highest, but the man is well known among coaches for his extensive coaching experience.
He joined Duke in 2010 after spending two seasons as the head athletic director at his alma mater.
He led the Blue Devils to the NCAA Tournament in three of the last four seasons, and his coaching stints have been successful.
His salary has topped $200million for four years.
Krzyzaks coaching contract was worth $300million for one season in 2019-20, and it was about that amount for three seasons.