UNLV coach TJ Otzelberger is expected to be named the next coach in Iowa State, sources confirmed to CBS Sports on Wednesday. The news was first reported by the Las Vegas Review-Journal.
Sources added that members of the UNLV athletics department and the men’s basketball program believe that change is imminent. Excluding any significant last-minute barricades, the state of Iowa secured its next coach. Otzelberger, 43, has spent the last two seasons in Las Vegas, playing 28-29. Prior to that, he coached the state of South Dakota for three seasons and did two NCAA tournaments with a 70-33 record.
The move came quickly – within 24 hours – after the state of Iowa officially dismissed Steve Prohm after his six years in office. A source told CBS Sports that the state of Iowa will have to pay Prohm approximately $ 5.5 million due to his resignation, and then could owe UNLV somewhere between $ 4-4.5 million for the purchase of Otzelberger. On paper, the number of acquisitions is only $ 3 million. The big difference of more than a million dollars will depend on whether the state of Iowa may or may not treat the acquisition as a business expense (no tax rate would go into effect) or whether the transaction is linked to taxable income (which would increase to US $ 4 million neighborhood).
The school timeline officially announcing the hiring of Otzelberger is not known; a source speculated that the state of Iowa could be delayed a little more so as not to announce a hiring so soon after firing Prohm, in addition to any other important details that still need to be settled. In September, ISU athletic director Jamie Pollard said his athletic department was facing a deficit of approximately $ 30 million due to the effects of the COVID-19 pandemic. Employees across the athletics department cut their salaries to avoid layoffs.
Otzelberger worked as an assistant in the state of Iowa from 2006-2013, then again for a season in 2015-16 before getting the job in the state of South Dakota. Another source added that Pollard had long chosen Otzelberger to be the replacement.
“It’s been going on for about a month,” said the source.
Iowa is coming out of one of the worst seasons in history, ranging from 2 to 22 overall and 0 to 18 in the big 12.