Sources: UNC’s Michael Malone among highest-paid coaches
North Carolina is set to pay new head coach Michael Malone an annual average of more than $8.3 million on a six-year contract, sources confirmed to ESPN’s Pete Thamel, placing him among the five highest-paid coaches in the sport.
The Tar Heels made the hiring of the former Denver Nuggets coach official on Tuesday.
Malone, whose daughter plays volleyball at UNC, was recommended by a search committee led by associate executive athletic director Steve Newmark and athletic director Bubba Cunningham, the school said in its release. The university’s board of trustees approved the terms of the hire Tuesday.
WRAL News in Raleigh first reported Malone’s salary.
“[Malone] “He is a brilliant coach who will take a modern, disciplined approach to leading our men’s basketball program, which is essential in today’s college athletics landscape,” Newmark said in the release. “Carolina basketball is unique and special – and we have hired a leader well-suited to continue our championship tradition.”
Malone will hold an introductory press conference in Chapel Hill at 6 p.m. ET on Tuesday.
Malone has been an NBA champion since his time with the Nuggets and has won 510 games in 12 seasons as head coach. He is one of the most respected tacticians in the NBA and spent over 10 months as an ESPN analyst. He will inherit a Tar Heels team that has been searching for a replacement head coach for nearly two weeks since the firing of Hubert Davis.
Malone hasn’t coached college since he was an assistant at Manhattan in 2001. He also was an assistant at Providence from 1995-98 and at Oakland in 1994-95.
“Carolina is one of the most historic programs in college basketball and I am honored to be the head coach of the Tar Heels,” Malone said in a statement. “It’s humbling to follow so many legends in Chapel Hill. Thanks to the many NBA Tar Heels, I know how special the Carolina Basketball Family is, and I will do everything I can to continue UNC’s championship legacy while preparing our players for professional careers and life after basketball.”
Malone, 54, was Denver’s head coach for 10 years, going 471-327 during that span. He coached 904 games as an NBA head coach, including two seasons with the Sacramento Kings.
“Michael has proven that he knows how to build strong, successful teams capable of consistently competing in the playoffs and winning championships – and he knows how to make everyone on the field better,” Cunningham said. “He understands how to build teams 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.”
UNC had previously been linked to several high-profile college coaches, including Michigan’s Dusty May, Arizona’s Tommy Lloyd and Iowa State’s TJ Otzelberger. But after all three publicly committed to staying at their current schools, the Tar Heels turned to Malone, who led the Nuggets to their only NBA championship in 2023. He was fired by Denver last April and joined ESPN as an analyst a month later.
Davis was fired by UNC on March 24, five days after the Tar Heels blew a 19-point lead in their NCAA Tournament first-round loss to 11th-seeded VCU.
