Penny Hardaway agrees to 5-year extension with UofM worth $12.25M

Penny Hardaway agrees to 5-year extension with UofM worth $12.25M
Penny Hardaway paces self during coronavirus hold (Source: WMC Action News 5)

MEMPHIS, Tenn. (WMC) - Memphis head basketball coach Penny Hardaway has agreed to a five-year extension worth $12.25 million.

Hardaway’s in his third year with the University of Memphis. The new agreement extends through April 15, 2026.

“Coach Hardaway has rejuvenated Memphis basketball and has shown tremendous leadership in the Tigers program,” said Memphis Director of Athletics Laird Veatch. “He has had top-ranked recruiting classes and is establishing the foundation of a nationally competitive program. I have really enjoyed working with him, and we are excited to have Coach lead our program in the many years to come.”

Hardaway calls Memphis his dream job.

“I’m so thankful for the Board of Trustees, President Rudd, Laird Veatch and all of our loyal donors and fans for their continued support,” said Hardaway. “Memphis basketball is in the national spotlight, and we are continuing to get better and better every day. The future is bright for the Tigers.”

Hardaway is 48-27 overall with the Tigers including back-to-back 20-win seasons. He went 21-10 last season after leading the Tigers to a 22-14 record and NIT second-round appearance in 2018-19.

The Tigers had the No. 1 recruiting class in the nation in 2019.

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