What are Mike Rhoades' contract details with Penn State? Salary, Duration, and more
The college basketball coaching carousel began right at the season's conclusion for a number of teams. Penn State was among the most notable schools involved following a successful year in which second-year coach Micah Shrewsberry led the team to a 23-14 record and an NCAA Tournament victory.
Shrewsberry elected to leave Penn State to accept the same position at Notre Dame following the season. This is his home state (Indiana) and a more reputable basketball program, so it is understandable that he took the opportunity, but left the Nittany Lions with a significant void to fill.
Penn State is reportedly now close to finalizing an agreement with VCU coach Mike Rhoades.
Sources: VCU's Mike Rhoades has officially accepted the head coaching vacancy at Penn State.
What are the details of Mike Rhoades' Penn State contract?
Penn State has offered Rhoades a contract worth over $3 million annually, which is roughly double his contract at VCU. The length of the contract has yet to be revealed, but one would assume the school is looking to lock up its future head coach for the long term after Shrewberry spent just two seasons at the program.
Rhoades is originally from Pennsylvania and played his college basketball at Division III Lebanon Valley College. He had his jersey retired at the program and still holds the school's record for assists, steals and free-throw percentage.
He jumped right into coaching following his playing career, spending three years as an assistant coach for Randolph-Macon College in Virginia. Rhoades eventually took over the head coaching job for 10 seasons before becoming an assistant coach at VCU under Shaka Smart. He then accepted a head coaching job at Rice and spent three years there before returning to VCU to become its head coach.
The 50-year-old has spent the past six seasons at VCU, going 129-61. He has reached the NCAA Tournament in three of the last six seasons, including this year. Rhoades is coming off a strong season as VCU (27-8) won the Atlantic 10 regular-season and conference tournament championships.
It will not be an easy transition for Penn State as it is losing seniors Andrew Funk, Jalen Pickett and Seth Lundy, who combined for 44.4 points per game this season.
Regardless, this is an awesome opportunity and homecoming for Mike Rhoades. The school has yet to make an announcement confirming his hire.