According to Chad Leistikow of the Des Moines Register, Iowa basketball is on the hook for the entirety of the $4.26 million contract buyout to former head coach Fran McCaffery. Leistikow reports that the contract extension McCaffery signed with Iowa in 2021 does not include a reduction clause with McCaffery taking another job.

March 27 (UPI) -- The Penn Quakers hired Fran McCaffery as their new men's basketball coach, the school announced Thursday. The former Iowa coach, who was fired earlier this month, led the Hawkeyes to a 297-207 record over the last 15 years. He will take over a Quakers program that went 7-21 over the last two seasons.

Iowa announced Monday that Ben McCollum is its next head men's basketball coach. Here's what to know about McCollum, who will replace Fran McCaffery.