What was Bobby Knight's Net Worth and Salary?
Bobby Knight was an American basketball coach who had a net worth of $8 million at the time of his death at the age of 83.
Bobby Knight was best known for coaching the Indiana Hoosiers for nearly three decades, from 1971 to 2000. He led the Hoosiers to three NCAA championships and 11 Big Ten Conference championships. Knight also had two undefeated seasons and won a gold medal as the coach of the US men's basketball team at the 1984 Summer Olympics. He holds the record for the highest number of wins by any retired coach in NCAA Division I and is currently third behind current coaches.
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Bobby Knight was born on October 25, 1940, in Orrville, Ohio. He attended Orrville High School, where he started his career playing organized basketball.
Collegiate Career
For college, Knight went to the Ohio State University from 1958 to 1962. He played college basketball under Hall of Fame coach Fred Taylor. Knight and the Ohio State Buckeyes won the NCAA championship title in 1960. They also made it to two more consecutive championships, but fell short both times.
Army Coaching
After graduating from OSU, Knight served as the junior varsity basketball coach at Cuyahoga Falls High School in Ohio for a year. He then enlisted in the US Army, serving from 1963 to 1965 and subsequently in the reserves until 1969. Knight became an assistant coach and later the head coach for the Army Black Knights. He accumulated 102 wins over his six seasons as head coach at West Point.
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In 1971, Knight joined Indiana University as head coach. During his tenure, he led the Hoosiers to great success, winning numerous Big Ten Conference championships and three NCAA championships. However, in 2000, Knight was fired after an investigation revealed that he had physically abused a player during a practice session.
Texas Tech Coaching and Retirement
After leaving Indiana, Knight became the head coach at Texas Tech University in 2001. He achieved success at Texas Tech, leading the Raiders to multiple postseason appearances. Knight retired in 2008 and held the record for the most NCAA Division I men's basketball wins at the time, with 902.
Hoosiers Salary
According to a report from the University of Indiana in 2000, Knight's salary during his final year coaching for the Hoosiers was $163,118. He also received additional benefits such as the use of a new car every year, the use of the school's private plane for official business, and free tuition for his two sons.
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When Knight joined Texas Tech in 2001, he signed a five-year $4.5 million contract, which included a base salary, deferred income, and guaranteed outside income. However, in 2002, Knight returned his base salary for the previous season, expressing his dissatisfaction with the team's performance.
International Coaching
Knight coached the US men's basketball teams at the 1979 Pan American Games and the 1984 Summer Olympic Games. Both teams won the gold medal.
Post-Coaching Career
After retiring from coaching in 2008, Knight worked as a studio analyst for college basketball games on ESPN until 2015.
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Several books have been written about Bobby Knight, his coaching career, and his controversial behavior. One notable book is John Feinstein's "A Season on the Brink," which chronicles the 1985-86 Indiana Hoosiers season and was adapted into an ESPN television film in 2002. Knight has also published his autobiography titled "Knight: My Story" in 2003.
Personal Life
Bobby Knight was married twice. He married Nancy Falk in 1963, and they had two sons before divorcing in 1985. In 1988, Knight married former high school basketball coach Karen Edgar. In recent years, Knight has faced health issues and has struggled with his memory.
Real Estate
As of July 2019, Bobby and Karen Knight owned a newly-built, 5,000 square-foot home in Bloomington, Indiana, and a modest home in Lubbock, Texas.
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