MORE: Highest-paid college coaches | Why Smith was Coach of the Year
And he’s about to cash a big paycheck. Parrish reports that the contract is a five-year, $15.45 million deal.
Smith, 64, brings an impressive resume to Memphis. He is one of two coaches to bring five different programs (Tulsa, Georgia, Kentucky, Minnesota and Texas Tech) to the NCAA Tournament, including a national title with Kentucky in 1998. He took the Red Raiders to the dance last season for the first time since 2007.
Memphis failed to make the NCAA Tournament in each of the last two seasons under Pastner, who took over in 2009 when John Calipari went to Kentucky.
