As March Madness arrives, the Iowa Hawkeyes are searching for their next men’s basketball coach.
Iowa parted ways with Fran McCaffery on Friday after a 17-16 (7-13 Big Ten) finish to the 2024-25 campaign. McCaffery leaves Iowa as the Hawkeyes’ all-time winningest coach with a final record of 297-207 (143-141 Big Ten).
As Iowa jumps into a coaching search, one name seemingly on everyone’s list is West Virginia coach Darian DeVries. DeVries just finished his first season as the coach at West Virginia, where his Mountaineers posted a 19-13 (10-10 Big 12) record and wound up as the first team out of the NCAA Tournament bracket.
Iowa owes McCaffery $4.26 million for his contract buyout, which it can pay out over the next 36 months. That averages out to around $1.42 million annually if Iowa elects to pay it out over the next three years.
To land DeVries, the Hawkeyes would need to pay DeVries’ contract buyout to West Virginia. If he takes another job, West Virginia is owed 37.5% of his remaining contract.
According to the Des Moines Register’s Chad Leistikow, DeVries’ buyout is roughly $4.66 million if the hire is made on April 1.
Goetz and Iowa dodged a bit of a financial bullet, though. If West Virginia had finished in the top six of the Big 12 standings, DeVries would have activated the automatic extension clause in his contract. The one-time extension would have added a $3.3 million salary for the 2029-30 season and upped his buyout figure to nearly $5.9 million.
Prior to taking the West Virginia job, DeVries served as the coach at Drake for six seasons. He guided the Bulldogs to a trio of NCAA Tournament appearances and a 150-55 (78-33 Missouri Valley) record.
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Iowa’s pursuit of Darian DeVries as their new head basketball coach involves significant financial considerations. DeVries, who recently accepted the head coaching position at Indiana University, had a buyout clause in his West Virginia contract reportedly exceeding $6 million.
This substantial amount reflects the remaining value of his contract and associated hiring expenses.
For Iowa to secure DeVries, they would need to cover this buyout amount to release him from his current obligations. However, Iowa is already committed to a $4.2 million buyout for former coach Fran McCaffery, payable over 36 months.
This existing financial commitment may impact Iowa’s ability or willingness to absorb an additional multi-million dollar expense for DeVries’ buyout.
Given these financial constraints, Iowa may need to explore alternative coaching candidates whose contractual obligations align better with the university’s budgetary considerations.
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