How much was Lute Olson worth?
Net Worth: | $6 Million |
---|---|
Profession: | Professional Basketball Coach |
Date of Birth: | September 22, 1934 (aged 85) |
Country: | United States of America |
Height: | 1.9 m |
About Lute Olson
American basketball coach Robert Luther “Lute” Olson (September 22, 1934 – August 27, 2020) had a reputed $6 million fortune. For 25 years, Olson oversaw the men’s squad for the Arizona Wildcats. Both the National Collegiate Basketball Hall of Fame and the Naismith Memorial Basketball Hall of Fame have inducted Lute Olson.
Robert Luther “Lute” Olson, one of the founding fathers of Division I basketball, began his coaching career at the high school level. He then oversaw programs at many colleges in the Midwest and Southern California before transitioning to the college levels at Long Beach City College in 1973.
Once he entered college, Olson’s career really took off. Before transferring to the Big 10’s Iowa Hawkeyes in 1974, he spent one year at Long Beach CC and another at Long Beach State. By winning the conference championship in 1979 and making the Final Four in 1980, he turned the Hawkeye program into a major force.
Following a trip to the Sweet Sixteen in 1983, Olson shocked the collegiate basketball world by joining Arizona, a team with a relatively low national profile. However, Olson transformed the Wildcats into a renowned team that made the NCAA Tournament every year but his first. His 1997 team, which included Michael Dickerson, Miles Simon, and Mike Bibby, won the National Championship, earning extra style points for eliminating three top seeds in the process.
Private matters and Olson’s leave of absence
In 1953, Lute and Bobbi Olson got hitched. During her husband’s recruiting visits, Bobbi Olson was rumored to be making pancakes for potential candidates. She passed away in January 2001 from ovarian cancer. The “Lute and Bobbi Olson Court” is the title given to Arizona’s home court in her honor.
Olson remarried in 2003, but the union wasn’t nearly as happy as the first. Olson missed the entire 2007–08 season as a result of problems with his divorce from his wife in 2007. Under the direction of assistant Kevin O’Neill, the Wildcats had their poorest year since Olson’s Arizona debut, finishing 19-15 overall, 8-10 in the Pac 10, and missing the NCAA Tournament cut for the first time since 1984. O’Neill won’t serve as an assistant again in 2008-2009.
Controversy
Since regaining control, Olson’s reign has been… tumultuous.
Elite point guard prospect Brandon Jennings decided to forego college and turn pro in Europe, prompting Olson to say that he will no longer pursue one-and-done players.
Olson is also being looked into for possible NCAA infractions as a result of a letter to boosters this summer asking for donations.
Unexpected Retirement
Olson never quite came back from his hiatus. On October 24, he made his retirement announcement, leaving the Wildcats after 25 seasons and four Final Four appearances.
- Position:
- Head Coach
- Team:
- Arizona Wildcats
- Career Record:
- 780-280
- Coaching Tree:
- Steve Kerr (general manager, Phoenix Suns), Kevin O’Neill (Arizona, Northwestern, Toronto Raptors)
- Great Players:
- Sean Elliott, Gilbert Arenas, Mike Bibby, Jason Richardson, Damon Stoudamire, Andre Iguodala, Richard Jefferson, Luke Walton (Arizona)
- National Championships:
- 1997 National Champion Arizona Wildcats
- Other Honors:
- Inducted into the Naismith Memorial Basketball Hall of Fame in 2002
Death
Lute Olson entered hospice care in August 2020 following a stroke that he experienced in 2019. On August 27, 2020, Olson passed away.
Lute Olson had a $6 million net worth at the time of his passing. At 85 years old, he was.