INDIANAPOLIS — Cross Tommy Lloyd’s name off the list of targets for North Carolina.
While addressing reporters on Friday ahead of Arizona’s Final Four matchup against Michigan, Lloyd said he is staying with the Wildcats despite the Tar Heels’ interest in him.
“I’m happy to announce I’m staying at Arizona,” Lloyd said. “Arizona basketball, you guys know what it means to me, and when I say it’s a special place, that always comes from the bottom of my heart.”
Shortly after Lloyd spoke, ESPN reported that he agreed to a new five-year deal that will make him one of the five highest-paid coaches in college basketball. His salary for the 2026–27 season will be roughly $7.2 million, and over the life of the contract will average roughly $7.5 million annually. Lloyd is making just under $5 million this season.
Lloyd’s deal also includes an increase in bonuses and staff salary, according to ESPN. It also comes with a high buyout, which was $9 million under Lloyd’s original deal.
Lloyd will not report to athletic director Desiree Reed-Francois as part of his new deal with the school, according to CBS Sports. Instead he will report to university president Suresh Garimella.
“Coach Lloyd has led our men’s basketball program with clarity of purpose and a commitment to excellence,” Garimella said in a statement. “He has reestablished Arizona Basketball as one of the nation’s best programs and leads a team that is unified and performing at the highest levels on the court and in the classroom.”
This year is Arizona’s first Final Four appearance since 2001, when the Wildcats fell to Duke in the national title game.
According to multiple reports, Lloyd was a top target to replace Hubert Davis, who was fired by North Carolina on March 24. The Tar Heels reportedly offered Lloyd one of the richest contracts in college basketball. The coach disputed reports that NBA and North Carolina legend Michael Jordan called to help recruit him to Chapel Hill.
“I made a decision that my Michael Jordan is Steve Kerr, and I’m proud to be an Arizona Wildcat,” Lloyd said.
