With new five-year deal and assurances, Tommy Lloyd says he's staying at Arizona

Lloyd's name had been connected to the opening at North Carolina, generating speculation he would leave after one of the best seasons in UA basketball history.

While there have been differences over the resources devoted to men's basketball, Lloyd said during his pregame news conference Friday that administrators have worked "to get some things done the past couple days" and thanked them for their commitment.

While both Lloyd and UA athletic director Desireé Reed-Francois declined to offer specifics, the Star was told Lloyd will receive a five-year deal worth a total of $37.5 million in guaranteed compensation and that UA will increase revenue-sharing for men's basketball next season while also agreeing to increase fundraising efforts for outside NIL money.

Lloyd has been finishing out the first year of a revised five-year contract that is paying him $5.5 million in guaranteed funds this season, $5.1 million of which is coming from UA. He is believed to have a player roster budget of about $10 million, counting outside NIL funds and $3.5 million in school-paid revenue sharing, though that budget is likely the smallest among the Final Four teams.

Lloyd's new deal includes assurances he will be able to work directly with UA president Suresh Garimella over issues around his program's financial support, though Lloyd said  "this wasn't meant to be a leverage deal," and that it's about everyone supporting his program. 

"I love being in the middle of that, so I'm thankful," Lloyd said.

The new extension, which is subject to formal Arizona Board of Regents approval, calls for Lloyd to now receive $7.22 million in total guaranteed compensation next season, including payment for additional duties and image rights. Annual escalators will pay him a total of $37.5 million over five seasons.

When Lloyd signed a revised deal last spring, that one did not offer him a raise over what he was already scheduled to make but did add a clause saying UA must agree with him on a roster budget by every Feb. 15 for the following season.

Seated at Lloyd's news conference, Reed-Francois confirmed only that Lloyd would receive a new-five year deal taking him through 2030-31.

"We made the announcement, so we want to focus on our team," Reed-Francois said. "But I'm very excited that we got this extension done, and look forward to the incredible trajectory of our program."

Asked if the negotiations had to do with the amount of revenue-sharing funds men's basketball is getting from the UA, or the now-allowed school marketing efforts to secure outside NIL money, Lloyd declined to offer specifics.

"It's a holistic approach," Lloyd said. "Everything surrounding it needs to push it forward. It's my (job) to be captain of the ship and put everything behind our program. It's not easy getting that alignment and I think we are taking big steps toward doing that."

Since North Carolina fired Hubert Davis as coach earlier in the NCAA Tournament, Lloyd has faced questions about the job at nearly every one of his news conferences. He has steadily declared that his "full focus" was on the team, and repeated that assertion when asked Friday about dealing with negotiations while he was preparing for the Final Four.

"Honestly, I've been full focus" on basketball, Lloyd said. "There's obviously people behind the scenes that were helping me and working with the administration."

Lloyd said it "wasn't meant to be a leverage deal," and that he appreciated administrators rallying behind what the vision for Arizona basketball can be.

"It's not about me, it's about everyone that identifies with the block 'A.' To me, that's the driving force. I've always wanted to be able to deliver the kind of entity that our community can rally around and feel good about. I love being in the middle of that."

While Lloyd said he never had a reported conversation with North Carolina and NBA legend Michael Jordan about the Tar Heels' opening, he called UNC "an amazing place" and thanked the school for its interest.

"It's a one of one, and it's an honor to even be considered for that job," Lloyd said. " For me, as a young kid being a college basketball junkie, watching those games at home, I never would have thought something like that could have happened to somebody like me. North Carolina is a first-class organization, and I appreciate them for the way they've handled this."

With all that said, Lloyd said Arizona and the city of Tucson have proven a fit for him in basketball and culturally.

"It's a special place for the right people," Lloyd said. "You know, I look at our fan base and, just, I kind of laugh. I mean, when I close my eyes, I think of an Arizona fan. There's lots of them, so don't just pigeonhole this into one, but I see this guy about my age that hasn't shaved in a few days, got a flat bill hat on, and he's wearing a jersey.

"I'm like, what 50-year-old dudes wear jerseys? You know who does? Arizona basketball fans do, and I love those guys, I connect with those people. I honestly love the community of Tucson."

Lloyd's team sang the head coach's praises following the announcement. 

“It’s a testament to who he is as a person and how much he loves the Arizona community," senior forward Tobe Awaka said. "I know he’s got deep ties to the community and the people around. He wants to build something great here at Arizona, and keep pushing the culture and identity of the program. … He’s one of the most emotionally intelligent coaches I’ve played for. I think he’s a genius for how he takes teams and builds them together. It’s been a great experience. I’ve grown as a person and a player.”

Added forward Dwayne Aristode: “Happy for him. Glad he’s staying. … This year, he made an example out of what he can do next year.”

“It’s super cool. I’m super happy and excited for Tommy. He deserves this, for sure," said star freshman Koa Peat. "He’s a really good coach. He loves Tucson and Tucson loves him. It’s definitely a special moment, for sure.”