Rumors had been running rampant that Tommy Lloyd may have been the next head coach of the North Carolina Tar Heels. However, those rumors were completely silenced on Friday before the Final Four after the Arizona Wildcats gave Lloyd a new contract extension.
Reports indicate the 51-year-old head coach is signing a five-year deal with the Wildcats, according to Pete Thamel and Pete Borzello of ESPN. Lloyd is now one of the five highest-paid coaches in the nation.
“Arizona coach Tommy Lloyd has agreed to a new deal with the school, he announced,” said Thamel. “Arizona's new five-year deal with Lloyd will make him one of the five highest-paid coaches in college basketball, per [Thamel] and Borzello.”
Lloyd announced he was remaining with Arizona during Friday's press conference. He revealed he was happy to remain with the Wildcats while also admitting he felt honored just to be considered a candidate for the North Carolina head coaching job, per Bryan Fischer of Sports Illustrated. Lloyd also confirmed that a phone call with Michael Jordan never happened.
“I'm happy to announce I'm staying at Arizona. We've been able to get some things done the past couple days,” said Lloyd… “North Carolina is an amazing place. It's a one-of-one. It's an honor to even be considered for that job… “This wasn't like meant to be like a leverage deal.”
Reports indicate that Tommy Lloyd will be paid an extra $7.2 million starting next season, according to Matt Norland of CBS Sports. It's said that North Carolina offered Lloyd a deal that would have made him a top-two highest-paid coach in college basketball. However, Arizona's willingness to give Lloyd full control and give his staff pool extra incentives may have been the deciding factor.
“Sources: UNC offered Tommy Lloyd a top-two contract in CBB,” reported Norland. “Lloyd took less to stay, but will still bump up to $7.2 million starting next season. Staff pool also will get a huge bump + incentives brought back to their contract structures. He'll also no longer report to the AD.”
With a new contract signed, Tommy Lloyd will put his full focus and attention on Saturday's Final Four matchup against the Michigan Wolverines. Which is something he has been claiming to be doing all along.
