The Sacramento Kings announced Monday former IU head coach and player Mike Woodson has been named associate head coach. Per team policy, terms of the deal were not disclosed.
“Mike Woodson brings decades of coaching experience to this staff,” said head coach Doug Christie in a release. “His impact will be extremely valuable, and I’m looking forward to getting to work with him.”
There are a few open questions from an Indiana perspective, including — does the school still owe Woodson under his contract with IU?
The Daily Hoosier submitted a records request to obtain a copy of any separation agreement involving Woodson and IU. We were told no such arrangement exists. So the working assumption at the moment is the language in Woodson’s 2023 contract amendment controls.
Another question is whether the public facing description of why Woodson stepped matches discussions behind the scenes.
If Woodson retired as was suggested on Feb. 7 when IU announced his intent to step away at the end of the season, then the school should not have any further obligations under Woodson’s contract.
If instead Woodson was fired, Indiana would owe him approximately $8 million, which could have been paid in a lump sum, or via annual payments of $1 million over the next eight years. Based on Woodson’s 2023 contract with Indiana, amounts paid to him by the Kings would offset the roughly $1 million per year owed under the 2023 deal under the annual payment option.
It is not uncommon for lead NBA assistants to make in the neighborhood of $1 million per year, give or take. So as long as Woodson remains on the Sacramento bench, it is likely Indiana would not have a material obligation due to Woodson. At age 67 however, retirement is always a near-term possibility for Woodson.
There have been instances, including in the case of former IU football coach Tom Allen in 2023, whereby the school and coach agree at the time of separation to a one-time up front payment, in full satisfaction of any remaining contractual obligations by either party.
The Daily Hoosier will continue to seek clarity regarding the understanding between Indiana and Woodson, and the resultant financial implications to the school.
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