Thursday's rumor is Friday's news: CBS Sports' Gary Parrish reports that a source has told him that longtime George Mason coach Jim Larranaga will be the next Miami basketball coach.
As for why, Parrish is pointing at the bottom line:
On the surface this move makes little sense considering Larranaga had rejected overtures from power-conference schools before. Combine that with the fact that the core of his 27-win team was returning, and there's no obvious reason for Larranaga to leave one of the best CAA jobs for one of the worst ACC jobs ... except for money. Larranaga was scheduled to make between $525,000 and $700,000 at George Mason next year (depending on bonuses). His deal at Miami, a source said, will be worth more than $1 million annually.
If that salary figure's accurate, Larranaga would be joining the fraternity of $1 million per year coaches, but Miami would still be spending less than its in-state rivals. Florida coach Billy Donovan earns more than $3.5 million annually, and Florida State coach Leonard Hamilton's salary is in the $1.5 million per year range.
This March, Larranaga coached George Mason to the third round of the NCAA Tournament, where the Patriots were crushed by Ohio State. Miami will be hoping Larranaga can more closely approximate his Patriots' 2006 run to the Final Four with the Hurricanes.