It's Official: Mike Woodson to Retire at End of Season
In the midst of a tumultuous fourth season, Woodson announces plans to retire at the end of the 2024-2025 campaign
In a statement by Scott Dolson sent out on Friday afternoon, Indiana men’s basketball coach Mike Woodson will not return as head coach after the 2024-2025 season.
“During a meeting with Coach Woodson on Wednesday, he informed me he wanted to step down as our program’s head coach at the end of the current season,” Indiana Vice President and Director of Athletics Scott Dolson said in the release. “Coach Woodson is a class act. During the last four years, he has led the program during a transformational time in college athletics and helped us become a national leader in evolving areas including NIL and the Transfer Portal. No one loves IU Basketball more than he does.”
Hired as the 30th head coach of Indiana basketball on March 28, 2021, Woodson made his return to Bloomington, becoming the first Bob Knight player to become the head coach at Indiana. When he was hired, Woodson took over a program in disarray and brought it back to national relevancy in year one, earning an at-large bid to the NCAA Tournament.
Woodson’s second season was, by and large, his most successful season, leading the team to a 23-12 record and a four-seed in the NCAA Tournament, bowing out to Miami (FL) in the second round.
However, following back-to-back tournament appearances in his first two years at the helm of the Hoosiers, Woodson failed to reach the Big Dance a season ago, posting a record of 19-14. This season, after being ranked No. 17 in the preseason AP Poll, Woodson and his Hoosiers are 14-9 and need a miracle to make the NCAA Tournament.
In his four seasons at the helm, Woodson, 66, has posted a record of 77-49 and a 31-37 record in Big Ten play.
In August 2023, Woodson signed a contract amendment that boosted his guaranteed total compensation from around $3 million per year to $4.2 million. The new agreement also guaranteed Woodson 100% of his remaining contract if he was fired at the end of the 2024-25 season or sooner.
That said, with two years left on his contract after the season, Woodson is owed roughly $8.4 million from Indiana. However, there is a clause in the deal that allows Indiana to pay out that buyout in annual payments of $1 million until the buyout has been paid in full.
The Hoosiers have eight games left in the regular season, beginning with a nationally televised game against Dusty May’s Michigan Wolverines at Simon Skjodt Assembly Hall on Saturday at 1 p.m.
It’s unclear as to who will succeed Woodson at this juncture, but Indiana will begin its search for its third head coach in eight seasons.
I feel at peace. I just hope Hoosier Nation accepts this and moves on, too—it's time to put away the boos and chants and focus on supporting the team. It's not like Woody can say he's changed his mind and reverse this announcement now. Dolson is likely to have the next coach wrapped up here before Purdue comes to Bloomington (you can't convince me he hasn't been doing his homework since BFA) and will simply wait until both teams have finished post season play to make the announcement.
Woody is really gracious to let Dolson know he is retiring in early February, giving Dolson time to find his replacement at his own pace. He might not have been the best coach record wise, but he is a true Hoosier. He did get us through a difficult time and used the portal effectively. I wish him well in his retirement and I also hope Hoosier Nation will allow him to go into his retirement with their support. Give him a warm welcome at the next home game tomorrow.