Memphis signs Penny Hardaway to 6-year extension

Published: Oct. 12, 2022 at 3:15 PM CDT
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MEMPHIS, Tenn. (WMC) - Penny Hardaway is staying in Memphis for the distant future.

The University of Memphis announced a 6-year, $16.5 million extension for Hardaway as the head coach of the Tigers men’s basketball team.

The new deal will run through the 2027-28 season.

Hardaway is 84-43 in four seasons with the Tigers, including four straight 20-win seasons and an appearance in the 2022 NCAA Tournament.

“This full ‘long-form’ contract and extension for Coach Hardaway has been in the works for quite some time,” University of Memphis Vice President and Director of Intercollegiate Athletics Laird Veatch said. “We are extremely pleased and excited to make this commitment to keep Coach Hardaway courtside leading our Tigers for a long time. We could not have a better fit as our head men’s basketball coach at Memphis than Penny Hardaway, and we are very thankful for his dedication and leadership.”

The deal includes a raise for each season and puts Hardaway at $3 million for 2027-28.

The move comes weeks after the program was put on probation over violations involving ineligible players and recruiting violations.

The University of Memphis avoided stiffer punishments in the case, which stems from the 2019-20 season.

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