Net Worth Ranker
What Is Robert “Bobby” Montgomery Knight’s Net Worth?
At the time of his death on November 1, 2023, Robert “Bobby” Montgomery Knight, the legendary American basketball coach, had a net worth of approximately $8 million. This figure reflects his earnings throughout his illustrious career, which included coaching salaries, endorsement deals, speaking engagements, and other ventures.
Bobby Knight’s Coaching Career and Earnings
Bobby Knight’s coaching career spanned several decades, with notable tenures at Army, Indiana University, and Texas Tech University. His time at Indiana University, from 1971 to 2000, was particularly significant, leading the Hoosiers to three NCAA championships (1976, 1981, and 1987) and 11 Big Ten Conference championships. According to a report released by Indiana University in 2000, Bobby Knight’s salary in his final year coaching for the Hoosiers was $163,118. His contract included additional benefits such as the use of a new car each year, access to the school’s private plane for official business, and free undergraduate tuition for his two sons.
During his time at Indiana, Bobby Knight supplemented his base salary with income from deferred compensation, clothing endorsements, and speaking fees. He operated under a contract originally signed in 1987 and extended in 1997. At the time of his termination, one year remained on the final extension.
In 2001, Bobby Knight accepted the position of head coach at Texas Tech University. He signed a five-year deal worth $4.5 million, which translates to an average annual income of $900,000. The contract was structured as follows: $250,000 in base salary, $150,000 in deferred income, and $500,000 in “guaranteed outside income.” Knight voluntarily returned his $250,000 base salary for the 2001 season, citing dissatisfaction with the team’s fundamental execution.
Additional Ventures and Assets Contributing to Bobby Knight’s Net Worth
Beyond his coaching salaries, Bobby Knight’s net worth was also influenced by various other ventures. He served as a part-time commentator for ESPN from 2008 to 2015, earning income from his media appearances. He also authored several books, including his autobiography “Knight: My Story,” co-written with Bob Hammel, which generated royalties and additional income. Knight’s international coaching experience with the US men’s basketball teams at the 1979 Pan American Games and the 1984 Summer Olympic Games, where he won gold medals, further contributed to his overall profile and potential earnings.
In July 2019, Bobby and his wife Karen purchased a newly-built, 5,000 square-foot home in Bloomington, Indiana, for $572,000. The property is located near Indiana University. The Knights also owned a home in Lubbock, Texas.
Bobby Knight’s Early Life and Career Beginnings
Robert Montgomery Knight was born on October 25, 1940, in Orrville, Ohio. He attended Orrville High School, where he began his basketball career. Knight played college basketball at Ohio State University from 1958 to 1962 under coach Fred Taylor. In 1960, Knight and the Ohio State Buckeyes won the NCAA championship title. Following his graduation, Knight served as the junior varsity basketball coach at Ohio’s Cuyahoga Falls High School for a year. He then served in the US Army from 1963 to 1969, during which he became an assistant coach for the Army Black Knights, later being promoted to head coach.
