Anfernee "Penny" Hardaway Net Worth

Overview

Anfernee “Penny” Hardaway is a retired American professional basketball player and current head coach. He rose to fame in the 1990s as a dynamic point guard known for his exceptional size, court vision, and athleticism. Drafted by the Golden State Warriors in 1993 but immediately traded to the Orlando Magic, Hardaway formed a formidable duo with Shaquille O’Neal, leading the Magic to the NBA Finals in 1995. His NBA career, spanning 14 seasons, included stints with the Phoenix Suns, New York Knicks, and Miami Heat. He earned four All-Star selections and two All-NBA First Team honors. Injuries unfortunately hampered his playing career. Beyond basketball, Hardaway gained cultural recognition through his Nike signature shoes and the “Lil Penny” marketing campaign. After retiring, he transitioned to coaching, eventually taking on the head coach position at his alma mater, the University of Memphis, where he currently coaches the Memphis Tigers.

Memphis Tigers

Head Coach

What Is Anfernee “Penny” Hardaway’s Net Worth

Anfernee “Penny” Hardaway, the retired American professional basketball player, has accumulated a net worth of $50 million. This financial standing reflects his successful NBA career, endorsement deals, and strategic ventures into coaching.

NBA Career Earnings and Endorsements

During his NBA career, Penny Hardaway secured approximately $120 million in salary alone, before accounting for taxes and lifestyle expenses. In addition to his NBA salary, Hardaway supplemented his income with an estimated $20 million from various endorsements. One of his most notable endorsements was with Nike, where he had a signature line of shoes. Penny Hardaway’s annual salary as the coach of the Memphis Tigers was $2.45 million, which was part of a five-year contract extension valued at $12.25 million, signed on December 21, 2020.

Early Life and Career Beginnings

Anfernee “Penny” Hardaway was born on July 18, 1971, in Memphis, Tennessee. During his senior year at Treadwell High School, he averaged 36.6 points, 10.1 rebounds, 6.2 assists, 3.9 steals, and 2.8 blocks per game. This outstanding performance led to him being named “Parade Magazine” National High School Player of the Year. Penny Hardaway played college basketball at the University of Memphis. Before entering the 1993 NBA Draft, Hardaway majored in Education at Memphis State, maintaining a 3.4 cumulative GPA.

NBA Career Highlights

In the 1993 NBA Draft, the Golden State Warriors selected Hardaway as the third overall pick in the first round and traded him to the Orlando Magic. During the 1994–95 NBA season, the Magic won 57 games, with Hardaway averaging 20.9 points, 7.2 assists, and 4.4 rebounds. His defensive contributions included averaging 1.7 steals per game. Hardaway started for the East squad at the NBA All-Star game that year. In his inaugural NBA season, Hardaway averaged 16 points, 6.6 assists, and 5.4 rebounds per game. He also recorded 190 steals, placing him 6th in the league. Hardaway earned a spot on the NBA All-Rookie’s first team and was runner-up for Rookie of the Year. In the 1994-95 NBA season, the Magic won 57 games. Hardaway averaged 20.9 points, 7.2 assists and 4.4 rebounds. In the NBA Finals, Hardaway averaged 25.5 points, 4.8 rebounds, and 8 assists, shooting 50% from the field, despite the team being swept by the Houston Rockets.

Coaching Career and Contract Details

Penny Hardaway became the coach of the Memphis Tigers college basketball team in March 2018. Penny signed a five-year contract extension with the Memphis Tigers on December 21, 2020, which was worth $12.25 million. The average annual salary he received from this contract was $2.45 million.

Film, Television, and Endorsements

Hardaway played alongside Shaquille O’Neal in the film “Blue Chips” (1994). He also participated in Nike’s “Lil Penny” advertising campaign. In 2016, Hardaway was featured in the ESPN 30 for 30 documentary “This Magic Moment.”