Michael Malone’s salary at North Carolina will make him one of the top-five highest-paid coaches in college basketball.
Malone is set to make a yearly average of more than $8.3 million during the course of his six-year contract at UNC, according to multiple reports.
The hiring of Malone broke Monday in a surprise move by North Carolina to hire the ex-NBA coach to replace Hubert Davis. The school made the announcement official Tuesday.
Malone’s daughter plays volleyball at UNC, and he was recommended by a search committee as a possible hire to take over the men’s basketball program.
“Michael has proven he knows how to build strong, successful teams that can consistently compete in the postseason and win championships — and he knows how to make everyone on the floor better,” director of athletics Bubba Cunningham said in a statement. “He understands how to build rosters and coach NBA players — which is exactly what our Tar Heels want to be. We are excited to welcome Michael and his family to Chapel Hill.”
Malone is coming to UNC with an NBA championship to his name and extensive experience as a head coach in the pros.
He also spent time as an assistant coach in the college ranks in the 90s and early 2000s, on the staffs at Oakland, Providence and Manhattan College.
During his introductory press conference, Malone said the appeal to take the job at North Carolina stemmed from the ability to “be a part of something special.”
“This was the only college job I’d ever consider. Any other job, I wouldn’t even answer the phone,” he said.
Malone is taking over a program looking to regain its form after being knocked out of the NCAA Tournament in the first round by No. 11 seed VCU.
