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Kevin Ollie Signs 1-Year, $650,000 Contract To Be UConn's Head Coach

The University of Connecticut has announced it has agreed to a one-year deal with new men's basketball head coach Kevin Ollie that will play $625,000, CBS Sports' Jeff Goodman is reporting. Ollie is taking over for Jim Calhoun, who was making over $2 million per season. Calhoun is set to announce his retirement at 2 p.m. ET on Thursday.

Ollie, 40, was entering his second season as an assistant under Calhoun, who coached at the university for 26 seasons and the former Huskie for four of them. Ollie played 13 seasons in the National Basketball Association and ended his playing career in 2009-10 with the Oklahoma City Thunder.

Last season, when Calhoun had to take a month-long medical leave, assistant coach George Blaney was named the interim head coach. However, Calhoun wanted Ollie to be the next coach in line.

For more on Jim Calhoun's retirement, please be sure to check out The UConn Blog, SB Nation Boston, our college basketball hub and SB Nation for all the latest news and updates.