The University of North Carolina men's basketball team announced on Tuesday that it has officially hired 54-year-old Michael Malone as its new head coach.

According to Brian Murphy of USA Today, the two sides signed a six-year, $50 million contract. With an annual salary of $8.333 million, Malone becomes the second-highest-paid active head coach in the NCAA.

Since being dismissed in April 2025, Malone has been unemployed. This appointment as head coach of North Carolina marks his official departure from the NBA court, where he has spent 24 years.

Malone entered the NBA in 2001, initially serving as an assistant coach for the New York Knicks, Cleveland Cavaliers, New Orleans Hornets, and Golden State Warriors. He officially became the head coach of the Sacramento Kings in 2013 and coached the Denver Nuggets for ten seasons starting in 2015.

To date, Malone has accumulated 510 regular season wins with a winning percentage of 56.4%. He has also achieved 44 playoff wins and led the Nuggets to their first NBA championship in 2023.

It's worth noting that the NCAA was by no means unfamiliar territory for Malone. Before entering the NBA, he served as an assistant coach at several institutions, including the Oakland Grizzlies, Providence College Brothers, and Manhattan University Jasper.

Regarding Malone's arrival, Steve Newmark, who will soon become the University of North Carolina's Director of Athletic Affairs, commented: "Michael was the first coach we approached during the selection process because he is known as a selfless mentor and innovator, with an extraordinary ability to connect with players and unlock their potential. He is an outstanding coach who will bring a modern and rigorous coaching philosophy to our men's basketball program. This is crucial in today's college sports environment."

Newmark concluded, "The University of North Carolina's basketball program is unique and distinctive, and we have hired a leader who is perfectly suited to continue the team's championship tradition."

Malone stated, "The University of North Carolina is one of the oldest NCAA teams. I am deeply honored to be the head coach of UNC and humbled to follow in the footsteps of so many legends at Chapel Hill. From the many UNC players who have played in the NBA, I have come to understand the special nature of the UNC basketball family. I will do my utmost to continue UNC's championship tradition while helping players prepare for their professional careers and retirement."

“I would like to thank President Roberts, Steve and Bab, the Board of Trustees, and the selection committee. I am very proud to be a member of North Carolina and can’t wait to begin this new chapter.”

Image source: Internet/University of North Carolina Men's Basketball Official Website