“I’m fully committed to the program and the players. I have no intention of moving on.” Veterans applauded and fans disregarded as Frank McCaffery made his plans clear in early February. But the Iowa head coach of 15 years wouldn’t have guessed he wasn’t receiving the nods over his remarks from his program either. It was a tough pill, maybe a necessary one. But it seems to have carried with it an air of trouble for Iowa. In what ways?
Just hours after Iowa’s 17-16 season ended — the worst of McCaffery’s last 7 years — the school announced it was parting ways with its longtime head coach. That leaves a noticeable void in a program that saw steady success under him but never quite broke through. Seven NCAA Tournament trips but no Sweet 16s. Now, Iowa needs a major hire — and the program has quite the task ahead.
According to ESPN’s Pete Thamel, Iowa is “not in great financial shape” and might hesitate to pay a big buyout for a high-profile coach. Thamel specifically pointed to West Virginia’s Darian DeVries, whose $4.67 million buyout could be a tough sell. “they do not have a strong appetite to pay a big buyout,” Thamel said on College GameDay. Not exactly encouraging news for a program trying to make a splash.
But Des Moines Register’s Chad Leistikow pushed back. “Can report with great confidence that this quote from @PeteThamel on ESPN is inaccurate,” Leistikow wrote. “Iowa is prepared to do what’s necessary to make the right hire, I’m told.” So, which is it? Is Iowa short on cash, or are they ready to spend? The conflicting reports create uncertainty — and that could scare off top candidates.
Can report with great confidence that this quote from @PeteThamel on ESPN is inaccurate: “Iowa’s not in great financial shape and they do not have a strong appetite to pay a big buyout” to acquire a coach.
Iowa is prepared to do what’s necessary to make the right hire, I’m told.
— Chad Leistikow (@ChadLeistikow) March 15, 2025
The challenge isn’t just about money — timing and competition matter too. Big-time coaches don’t come cheap, and other major programs are also looking. DeVries is appealing — he’s an Iowa native who turned Drake into a mid-major powerhouse before heading to West Virginia — but that buyout makes it tricky. His buyout aside, the school still has McCaffery’s approximate $4.26 million to payout over the next three years. If Iowa hesitates to spend, they could settle for a less splashy hire.
The job itself isn’t exactly a draw right now. Iowa Men’s hasn’t made the NCAA Tournament in back-to-back seasons. Their last Sweet 16 was in 1999. The last Elite Eight came in 1987, and the last Final Four was way back in 1980. For a coach looking to build a winner, Iowa isn’t a quick fix. If money is tight, that makes the job even less attractive.
Meanwhile, Caitlin Clark’s impact on Iowa’s finances tells a different story. The 6-foot Iowa’s 2023-24 season was a financial windfall. Women’s basketball ticket revenue jumped from $1.4 million to $3.3 million — surpassing men’s basketball sales (just under $3 million) for the first time ever. Iowa sold out season tickets for the first time and had to stop taking deposits six months before the season even started. But there was an overall impact on college too.
The university’s athletic department brought in over $167.4 million in revenue during FY23, marking its first seven-figure surplus in five years at $7.1 million. It’s clear Clark’s effect pushed the Hawkeyes into a stronger financial spot. But for the department currently, the concern is still up in the air.
And with the women’s program setting the bar so high, whoever steps into McCaffery’s shoes will need to deliver — fast.
Caitlin Clark’s impact still paying off for Iowa
Caitlin Clark didn’t just change Iowa women’s basketball — she changed Iowa’s economy. A report from the Common Sense Institute (CSI) last year estimated that Clark’s impact on the state’s economy hit a staggering $82.5 million. That’s serious money.
The report, titled Clarkonomics, detailed just how far that money could go. Clark’s impact is enough to buy between 1,418 and 5,176 acres of Iowa farmland, cover tuition for between 1,306 and 4,767 University of Iowa students, or even fund the university’s planned emergency department expansion. Doug Neumann, executive director of the Cedar Rapids Metro Economic Alliance, called Clark a “once-in-a-generation athlete” whose influence will benefit Iowa for years.
Hawkeye women’s basketball attendance nearly tripled during her career, jumping from about 125,000 fans to 350,000 in her senior year alone. Out-of-state attendance also grew from 10% to nearly 15% of total attendees, adding over 38,000 out-of-state fans– this meant, $1.44 million in women’s basketball tickets sale last season. Clark has left her mark. But Iowa’s current state could only get clear with their next hire.
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