Rick Pitino Net Worth

Net Worth:	$45 Million
Date of Birth:	September 18, 1952 (71 years old)
Gender:	Male
Height:	6 ft (1.83 m)
Profession:	Basketball Coach
Nationality:	United States of America

What is Rick Pitino’s Net Worth and Salary?

Rick Pitino is an American basketball coach who has a net worth of $45 million.He has held the position of head coach for various NBA and NCAA Division I teams at prestigious Universities like the University of Louisville, the New York Knicks, the University of Kentucky, and the Boston Celtics.

Early Life

In New York City, Richard Andrew Pitino was born on the 18th of September, 1952. He was raised in Bayville, New York, and attended St. Dominic High School, where he captained the basketball team.

He enrolled at the University of Massachusetts Amherst in 1970 and became the Minutemen basketball team’s standout point guard. Rick Pitino studied at UMass and received his diploma in 1974.

Coaching Career

After graduating from the University of Hawaii, Rick Pitino kickstarted his career as a coach, and later in 1975, he became a permanent assistant the next year. To finish the 1975–1976 season, he also had the opportunity to serve as Hawaii’s interim head coach.

He later joined Syracuse as Jim Boeheim’s first assistant during his term as head coach. Pitino accepted the position of head coach at Boston University in 1978. His leadership led the squad to its first NCAA tournament berth in 24 years, demonstrating his success there.

Pitino joined the New York Knicks as assistant coach to Hubie Brown after leaving the college ranks. In 1985, he resumed his coaching career in higher education, this time at Providence College, where the team had ended 11-20 the previous season.

The New York Knicks hired Rick Pitino as their head coach in 1987. The Knicks earned their first division championship in over 20 years under his direction.

In order to become the head coach of the University of Kentucky, he left the New York Knicks in 1989.

He successfully implemented his patented full-court pressure defense strategy while playing for the University of Kentucky. In the NCAA tournament in 1996, he won the national championship after leading the team to the 1993 tournament.

The Boston Celtics hired Pitino as their head coach from 1997 to 2001, marking his return to the professional ranks. Before relocating there in 2001 to attend the University of Louisville, he fought most of his battles in Boston.

From 2001 until 2017, Rick Pitino had the longest single tenure as the head coach of the University of Louisville.

He led the team to its first Final Four in 19 years and made NCAA history by becoming the first men’s coach to lead three different schools to the Final Four.

Nevertheless, a scandal caused their 2013 NCAA National Title to be nullified.

Pitino made his EuroLeague debut in 2018 with Panathinaikos, where he remained until 2020 when he was appointed the head coach at Iona College. Moreover, Rick Pitino has led the senior national teams of Greece and Puerto Rico.

 Rick Pitino Salary

At $7.7 million per year, Rick Pitino is paid.

Residence in Miami

Pitino listed his 12,000-square-foot Miami property for $29 million in November 2017. A month later, he reduced the price to $26 million.

At a cost of $5.4 million, he bought the house in 1999. In April 2020, he ultimately fetched $17 million for the house. On the prestigious Indian Creek island, there is a former residence of his that you may see in the following video tour:

$40 Million Louisville Legal issues

In response to Louisville University’s alleged involvement in an FBI investigation into collegiate basketball corruption, Rick Pitino was placed on indefinite leave from his position as Louisville’s head coach on September 27, 2017.

He would have forfeited up to $55 million in future contract remuneration had he been terminated for cause. Pitino subsequently brought legal action against the school, requesting nothing more than the $38.7 million base salary that was still due to him in accordance with the provisions of his contract.

The two sides came to an agreement two years after being fired. Louisville agreed to modify Rick’s exit from a firing to a resignation, but it did not offer him any further compensation.

Scandals

Rick Pitino was connected to eight of the 64 violations of the policy that resulted in the team being placed on probation during his time in Hawaii.

The violations included giving gifts and “pay to play” bribes to student-athletes—including one allegation that an Adidas executive conspired to give $100,000 to the family of a top-ranked national recruit with the intention that he would represent Adidas when he turned pro—and giving false information to NCAA and University of Hawaii officials alongside the team’s former head coach, Bruce O’Neil. Pitino vehemently rejected all accusations.

Due to Rick Pitino’s lack of monitoring in an escort sex scandal involving prospects at the University of Louisville, the NCAA punished him for five games in 2017.

Pitino was named in a federal probe over recruit bribery, and their 2013 National Championship was revoked. The school claimed he was let go for good reason.

Private Life

Joanne Minardi and Rick Pitino got hitched in 1976. They had six children together, however, their son Daniel, unfortunately, passed away at the age of six months in 1987 from congenital heart failure.

To generate money for underprivileged children, the couple established the Daniel Pitino Foundation in his honor.

Pitino wrote the self-help book “Success is a Decision” as well as the autobiographical “Born to Coach.” At the 2008 Kentucky Book Fair, his book “Rebound Rules” was the best-selling title.

In 2018, he published “Pitino: My Story,” which outlined his account of what happened in relation to the Adidas and University of Louisville scandals. Pitino has given motivating speeches on several occasions.

As a partner in the Celtic Pride Stable and Ol Memorial Stable, Pitino has also been involved in the sport of thoroughbred horse racing.

Goldencents, the horse that placed 17th in the 2013 Kentucky Derby despite having 8/1 odds of winning, is owned by Pitino’s stable, RAP Racing, which holds a 5% stake in the animal. Goldencents earned $750,000 at the 2013 Santa Anita Derby.

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