Memphis basketball coach Penny Hardaway has agreed to a five-year contract extension that can tie him to the college by the 2025-2026 season, the College of Memphis introduced Monday. The extension is price a complete of $12.25 million over the 5 years and begins at $2.325 million within the spring of 2021. His wage will escalate to $2.5 million within the third and fourth years of the deal and once more within the fifth 12 months to $2.6 million.
“Coach Hardaway has rejuvenated Memphis basketball and has proven super management within the Tigers program,” Memphis athletic director Laird Veatch stated Monday in a press launch saying the extension. “He has had top-ranked recruiting lessons and is establishing the muse of a nationally aggressive program. I’ve actually loved working with him, and we’re excited to have Coach lead our program within the a few years to come back.”
Hardaway has helped breathe life into Memphis, his alma mater, since taking on this system from Tubby Smith in 2018. He was employed within the spring of 2018 and instantly assembled the top-ranked recruiting class within the AAC, successful 22 video games in his first season. He then used that momentum to enroll the top-ranked recruiting class within the nation led by the top-ranked recruit within the nation, James Wiseman.
Wiseman performed solely three video games with the Tigers final season as he handled eligibility points and finally left the varsity, however Memphis nonetheless managed to win 21 video games in a turbulent season because of the emergence of first-round NBA Draft decide Treasured Achiuwa. And Achiuwa’s success helped Hardaway safe a dedication this summer time from Memphis standout Moussa Cisse, a top-10 nationwide recruit who has already taken over because the staff’s beginning heart.
The Tigers this season have stumbled out of the gate to a 5-3 begin, however his prowess as a recruiter and private ties to Memphis offers this system respectable endurance as a power within the American, and so locking him down for the lengthy haul is smart.
“Teaching at Memphis is my dream job,” Hardaway stated. “I am so grateful for the board of trustees, President Rudd, Laird Veatch and all of our loyal donors and followers for his or her continued help. Memphis basketball is within the nationwide highlight, and we’re persevering with to get higher and higher day-after-day. The longer term is shiny for the Tigers.”