Michael Malone, who won an NBA championship in 2023 with the Denver Nuggets but has never been a collegiate head coach, was hired by North Carolina to lead its men's basketball team, the university announced Tuesday.
Malone is set to become the second-highest paid college basketball coach with a six-year, $50 million contract, according to multiple reports. Only Kansas coach Bill Self, who was paid $8.8 million last season, has a higher annual average salary.
Malone, a 24-year NBA coaching veteran, has been working as a studio analyst for ABC/ESPN this season after being fired by the Nuggets on April 8, 2025.
North Carolina parted ways with Hubert Davis after last month's first-round loss to VCU in the NCAA Tournament.
"Michael was the first coach we engaged with as part of the search process because of his reputation as a selfless teacher and innovator who brings an incredible ability to connect with players and get the absolute best out of those he mentors," executive associate athletic director Steve Newmark -- who is set to become UNC's athletic director on July 1 -- said in a statement Tuesday.
"He is a brilliant coach who will deliver a modern and disciplined approach to leading our men's basketball program, which is critical in the current landscape of college athletics."
Malone was set to be introduced at a 6 p.m. ET Tuesday press conference open to the public at the Smith Center on the university's campus in Chapel Hill.
"Carolina is one of the most historic programs in college basketball, and I am honored to be the head coach of the Tar Heels. It is humbling to follow so many legends in Chapel Hill," Malone said in a statement Tuesday.
"I know from the many Tar Heels in the NBA how special the Carolina Basketball Family is, and I will do everything I can to continue UNC's championship legacy while preparing our players for professional careers and life after basketball."
The 54-year-old owns a career record of 510-394 as the head coach of the Nuggets (2015-25) and the Sacramento Kings (2013-14). He was previously an assistant with the Golden State Warriors, New Orleans Hornets, Cleveland Cavaliers and New York Knicks.
Malone was an assistant coach in the college ranks at Manhattan (1999-2001), Providence (1995-98) and Oakland (1994-95).
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