MEMPHIS, Tenn. — Men’s basketball coach Penny Hardaway and the University of Memphis have agreed to a five-year deal worth more than $12 million.
Hardaway will be making more than $2.3 million the next two years followed by $2.5 million in years three and four. The fifth year, his salary will jump to $2.6 million.
It’s well worth it for a coach who has “rejuvenated” the UofM’s basketball program.
“He has had top-ranked recruiting classes and is establishing the foundation of a nationally competitive program,” said Memphis Director of Athletics Laird Veatch. “I have really enjoyed working with him, and we are excited to have Coach lead our program in the many years to come.”
“Coaching at Memphis is my dream job,” said Hardaway. “I’m so thankful for the Board of Trustees, President Rudd, Laird Veatch and all of our loyal donors and fans for their continued support. Memphis basketball is in the national spotlight, and we are continuing to get better and better every day. The future is bright for the Tigers.”
Hardaway is 48-27 in his time with the Tigers. Last season, he went 21-10 and led the team to the NIT. He also had the number one recruiting class during the 2019 season.
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