Dean Smith Net Worth

What Is Dean Smith Net Worth?

Dean Edwards Smith, a celebrated American college basketball coach, had an estimated net worth of $5 million at the time of his death in February 2015. Born in Emporia, Kansas, in February 1931, Smith built a legacy through his remarkable coaching career, primarily at the University of North Carolina.

Dean Smith’s Coaching Career and Earnings

Smith’s coaching journey began with assistant roles at the University of Kansas (1953-1955) and Air Force (1955-1958). He then transitioned to the University of North Carolina, where he served as an assistant coach from 1958 to 1961 before becoming the head coach. In 1961, when Dean Smith was hired as the basketball coach at UNC, his starting annual salary was $9,200. In 1966-67, Smith was paid $12,600. Smith did not achieve pay parity with UNC’s football coach until 1971-72, when he and Bill Dooley, were both paid $25,000. Smith’s head coaching tenure at North Carolina spanned from 1961 to 1997. In 1976, he also coached the United States men’s national team, adding to his prestige and influence in the sport. Upon retiring in 1997, Smith held the record for the most victories (879) as a coach.

After retiring from coaching in 1997, Dean Smith took on a consultant role at UNC. In 2001, he agreed to a contract that mirrored his starting salary as head coach in 1961, receiving $9,200 annually. However, prior to this agreement, he had been receiving $162,750 annually, with half coming from his salary and the other half from his pension.

While specific details regarding endorsement deals or other income streams during his career are not widely available, it’s understood that a significant portion of his net worth was accumulated through his salary as head coach, speaking engagements, and potentially other sports-related ventures. Dean Smith’s influence extended beyond the court. He was known for his focus on academics, with 96.6% of his athletes earning their degrees. His most famous student-athlete was Michael Jordan. Smith played a role in promoting desegregation, recruiting the school’s first African American basketball player on scholarship. His coaching achievements include a Gold Medal at the Olympics, 13 ACC Tournament Championships, 17 ACC Regular Season Championships, and 1 NIT Championship. He was also recognized as National Coach of the Year four times and ACC Coach of the Year nine times. Smith’s contributions led to his induction into the North Carolina Sports Hall of Fame, Kansas Sports Hall of Fame, and FIBA Hall of Fame.

Dean Smith’s Legacy and Impact

Dean Smith’s impact went beyond wins and losses. His commitment to his players was evident even after his death. It was revealed that Smith’s will included a provision to send $200 to each of his former players, instructing them to “enjoy a dinner out compliments of Coach Dean Smith.”. Approximately 180 players received this gift, totaling around $36,000.

Dean Smith’s legacy as a coach and a leader remains strong, remembered not only for his on-court achievements but also for his integrity and dedication to his players.