Arizona's head coach Tommy Lloyd announces new deal to stay with Wildcats: 'My Michael Jordan is Steve Kerr'

Tommy Lloyd is sticking around. The Arizona head coach said Friday that he has agreed to a new deal to stay with the Wildcats, making the announcement at a press conference ahead of the Final Four.

Arizona confirmed the five-year deal shortly afterwards.

Lloyd’s new contract, which runs through the 2030-31 season, will reportedly start at $7.2 million next season, and will average out to about $7.5 million annually, per ESPN’s Pete Thamel. The contract also includes “significant” bonuses and a big salary boost to the staff pool, while also giving Lloyd additional independence from Arizona’s athletic director.

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Lloyd’s name had been thrown around in the light of the opening at University of North Carolina, who fired Hubert Davis last month after the Tar Heels were upset by VCU in the first round of the NCAA tournament. UNC reportedly did reach out to Lloyd, offering the coach a massive contract, per CBS Sports’ Matt Norlander.

Lloyd praised North Carolina as “an amazing place” on Friday, but re-committed fully to the Wildcats. The 51-year-old coach also denied reports that he’s had a phone call with Tar Heels legend Michael Jordan, though he praised Jordan as a someone he “idolized.”

“It’s an honor to even be considered for that job,” Lloyd said during his press conference. “With that being said though, I made a decision that, you know, my Michael Jordan is Steve Kerr. And I’m proud to be an Arizona Wildcat.”

Lloyd’s extension comes as the No. 1-seeded Wildcats gear up for the program’s first Final Four appearance since 2001. Arizona has been incredibly strong under Lloyd, who led them to the NCAA tournament as a top-four seed in all five years as head coach.

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This year has been the Wildcats’ most dominant yet, with the team picking up only two losses before winning the Big 12 tournament and rolling through four March Madness games with double-digit wins.

The newly-extended Lloyd will now turn to Arizona’s next challenge: facing a similarly strong-looking Michigan team on Saturday to try and advance to Monday’s national championship.