Tommy Lloyd lands 5-year, $37.5M extension on eve of Final Four amid UNC interest
INDIANAPOLIS – Arizona men’s basketball coach Tommy Lloyd is staying with the Wildcats despite North Carolina’s interest in hiring him for its head coaching vacancy, he announced Friday at a news conference previewing the Final Four.
Lloyd agreed to a contract extension through the 2031 season, Arizona announced shortly afterward. According to a source briefed on the matter, the extension, which was completed late Friday morning, is for $37.5 million over five years. It also includes a larger salary pool for assistants. With his new contract, Lloyd becomes one of the sport’s highest-paid coaches.
North Carolina fired Hubert Davis on March 24 after the team’s first-round exit in this year’s NCAA Tournament. Lloyd was at the top of the list of candidates to replace Davis. He confirmed UNC’s interest Friday and said he was flattered, saying of his mutual interest: “This wasn’t meant to be a leverage deal.”
“What did it is it’s where I wanted to be,” Lloyd said when asked if financial enhancements, including more money for name, image and likeness, aided his decision. “And (Arizona) wanted me to stay. That’s the driving force behind everything. To me it’s just a holistic approach. There’s not one thing anymore. Arizona basketball needs to become a locomotive. Where everything surrounding it is pushing it forward. That’s not because of me. That’s because of what was built before I came here.”
Lloyd’s Wildcats (36-2) play Michigan (35-3) in Saturday’s national semifinals at Lucas Oil Stadium and with a win would play Monday for the second national championship in school history. The late Lute Olson won the first in 1997.
Lloyd is 148-35 in his fifth season with the Wildcats after a long tenure as an assistant coach for Mark Few at Gonzaga.
“I didn’t want to make this entire Final Four about that because I’m just a small part of something much bigger, but on that same note, I’d also like to let you know that North Carolina is an amazing place,” Lloyd said. “I mean, it’s a one of one. It’s an honor to even be considered for that job. The young kid, for me the college basketball junkie watching those games at home, never would have thought something like that could have happened to somebody like me. North Carolina is a first-class organization, and I appreciate them for the way they’ve handled this.”
According to multiple sources familiar with UNC’s search, the Tar Heels’ pursuit of Lloyd was serious enough that program backers were rallying to raise funds for Lloyd’s $9 million buyout. While Lloyd was never offered the job, a source said financial discussions indicated UNC was willing to make Lloyd one of the highest-paid coaches in the country. Lloyd’s ties to Mark Few – a longtime friend of North Carolina legend Roy Williams – had made him a favorite in UNC circles from the moment the school fired Davis. And Lloyd’s stylistic preference of playing multiple bigs aligned well with North Carolina’s historic frontcourt production.
Lloyd made the announcement after he was asked whether UNC great Michael Jordan had reached out to him, as rumored.
“Michael Jordan, the phone call never did happen, so I’ll put that to rest,” Lloyd said. “But come on, we all idolized MJ. I don’t know how many hours I’ve watched that ‘Come Fly with Me’ video and my kid grew up watching the movie he made and just – it’s amazing that that opportunity was even thought could be possible. With that being said, though, I made a decision that my Michael Jordan is Steve Kerr, and I’m proud to be an Arizona Wildcat.”
With Lloyd off the board, his national semifinal counterpart, Michigan’s Dusty May, is another speculated candidate for the North Carolina job. May on Friday refused to comment on the North Carolina opening, saying that was his policy on any job other than the one he has. Chicago Bulls coach Billy Donovan is another possibility for the Tar Heels.
Doug Haller and Brendan Marks contributed to this report.