UNC basketball candidates: What Tar Heels must pay in buyouts for these coaches

The biggest opening on the men’s college basketball coaching carousel thus far is in Chapel Hill, North Carolina.

The Tar Heels announced on Tuesday, March 24, that Hubert Davis would not return to his alma mater for a sixth season after UNC was upset in the first round of the Men’s NCAA Tournament by 11-seed VCU. In a statement posted on his social media, Davis said he was “let go by” North Carolina and that he wanted to “still coach” the Tar Heels.

REQUIRED READING: Why was Hubert Davis fired? North Carolina says it ‘must move forward’

Davis’ tenure is highlighted by leading the Tar Heels to the Final Four as a No. 8 seed in his first season. The Tar Heels went 125-54 overall in five seasons under Davis, but a near-70% winning percentage was not good enough for another year, as the program saw a second straight first-weekend exit in March Madness.

It’s an important hiring cycle for the Tar Heels, who have athletic director Bubba Cummingham retiring and Steve Newmark soon taking over. It could also be a historic one, as UNC said it is looking to hire someone with no ties to the Tar Heels — something that hasn’t happened in 74 seasons.

If North Carolina wants to hire its replacement for Davis from among the top coaches and rising stars in the sport, it will need to be ready to make a significant financial investment simply to lure them away from their current programs.

Here’s a look at the buyouts for some of the Tar Heels’ top potential candidates:

UNC basketball candidates: How much will these coaches cost Tar Heels?

Editor’s note: All information via coach contracts obtained by USA TODAY Network. This list does not include candidates coaching at private institutions such as Vanderbilt’s Mark Byington, Gonzaga’s Mark Few and Saint Louis’ Josh Schertz.

Nate Oats, Alabama

Buyout: $18 million ($10 million on April 1)

There’s no question Oats is one of the top coaches in college basketball after leading the Crimson Tide to the Sweet 16 for the fourth straight season and fifth time in the last six years. He also has a 2024 Final Four appearance. But his buyout number could be a deal-breaker for the Tar Heels.

Oats has an $18 million buyout if the Tar Heels were to poach him before April 1, at which point it would drop to $10 million.

REQUIRED READING: Hubert Davis buyout at North Carolina: Contract details for Tar Heels coach

Todd Golden, Florida

Buyout: $16 million ($11 million on April 16)

Golden’s buyout is in the same range as Oats, and he could be on his way to another contract extension in Gainesville with the Gators with his name tossed into coaching cycles yet again, according to the Gainesville Sun, part of the USA TODAY Network.

The Gators coach has a $16 million buyout that drops to $11 million on April 16.

T.J. Otzelberger, Iowa State

If Oats and Golden’s buyouts are too high, then UNC may find T.J. Otzelberger’s rather reasonable by comparison. Otzelberger, who has Iowa State in the Sweet 16 for the third time of his five-year tenure, has a $4 million buyout.

Dusty May, Michigan

Buyout: $4 million ($2 million on May 1)

Like North Carolina, Michigan is one of the top athletic departments and jobs in the country, and one that May has exceeded in just two years in his time in Ann Arbor. But if the Tar Heels can persuade him to move to the ACC, it won’t cost them much.

May has a $4 million buyout that drops down to $2 million on May 1.

REQUIRED READING: What Hubert Davis said after UNC basketball fired him

Tommy Lloyd, Arizona

Buyout: $9 million ($6.25 million on April 1)

All Lloyd has done in his five seasons at Arizona is win, even breaking Brad Steven’s NCAA Division I record for most wins by a head coach in five seasons. It would be a home run hire if UNC could get a coach of Lloyd’s caliber — just think of the head-to-head matchups with Duke and Jon Scheyer.

But Lloyd will also cost the Tar Heels a pretty penny, though not as much as it’d cost to get Oats or Golden: His buyout is $9 million, but would drop to $6.25 million on April 1.

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This article originally appeared on USA TODAY: UNC basketball candidates’ buyouts: What Tar Heels must pay to hire these coaches