VCU expected to announce Mike Rhoades as new head basketball coach

UPDATE 3/21/17, 1:20 PM:

Well, that didn’t take long. CBS Sports is reporting that VCU is in advanced talks with former assistant coach Mike Rhoades, now head coach at Rice University:

Rice’s Mike Rhoades is in advanced talks with VCU and is expected to soon be named the Rams’ next coach, a source told CBS Sports on Tuesday.

Rhoades was a VCU assistant on Shaka Smart’s staff from 2009 to 2014. He’s spent the past three years at Rice, where his Owls finished 23-12 this season.

The announcement could be imminent.

UPDATE 3/21/17, 11:00 AM:

VCU has released an official statement on Coach Will Wade’s departure:

VCU Associate Vice President and Director of Athletics Ed McLaughlin confirmed this morning that Will Wade would not be returning as head men’s basketball coach at Virginia Commonwealth University and that he had accepted the same position at Louisiana State University.

“I always meet with coaches after the season to determine the best ways to build their programs and put our student-athletes in the best position to reach their potential, McLaughlin said. “Will and I agreed on the necessary next steps, and we met all of Will’s requests. He ultimately decided he would rather coach elsewhere.

“We have a world-class practice facility, a sold out arena every night and one of the greatest fan bases in all of college basketball. VCU Basketball is bigger than one person. We remain committed to ensuring that VCU Basketball remains a top-25 program nationally. We have a tradition of remarkable success that is focused ultimately on providing our student-athletes with a positive experience, focusing on our core values: student-athlete focus, drive to excel and integrity.”

A national search will begin immediately for the position.

ORIGINAL STORY:

VCU Men’s Basketball coach Will Wade is leaving the school, and Richmond, after two seasons, it was confirmed overnight. Wade signed a six-year contract with Louisiana State University for the school’s head coaching position, solidifying a rumor that began several days ago when LSU’s Athletic Director was seen in Richmond and met with Wade.

More details of the deal are expected to be announced today. Wade, 34, led the Rams to the NCAA Tournament both seasons as coach with a 51-20 record, taking the reigns from predecessor Shaka Smart, who left for Texas following the 2015 season.

LSU announced the news late Monday night on Twitter:

Wade’s new employer fired head coach Johnny Jones following a period of record losses for the team, whose record was 2-16 in SEC play.

Salary information for Wade’s new deal was not immediately available, but he was to make $1.5 million per year at VCU for seven more years and his contract at the school prescribed a $1 million buyout should he leave during the contract period.

We’ll continue to follow this story as new details emerge.

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