Mike Woodson has become a name synonymous with Indiana’s college basketball scene. Woodson has built a remarkable career as both a player and a coach. From his days as a star under Bob Knight at Indiana University to his tenure as head coach of the Hoosiers, Woodson’s journey has been nothing short of remarkable.
As he steps away from his role as Indiana’s head coach in 2025, many fans are curious about the financial rewards of his decades in basketball. If you’ve ever wondered the same, then keep reading, as below we have shared everything we know so far about Mike Woodson’s net worth and more.
What Is Mike Woodson’s Net Worth
Born in Indianapolis in 1958, Woodson rose through the ranks as a star athlete at Indiana University from 1976 to 1980. A two-time All-American and the 1980 Big Ten Player of the Year, he scored 2,061 points, ranking sixth in program history.
Drafted 12th overall by the New York Knicks in 1980, Woodson played 11 NBA seasons, amassing nearly 11,000 points across teams like the Knicks, Nets, and Kings. His NBA earnings, though modest by today’s standards, included $658,000 in the 1991-92 season with the Houston Rockets.
Woodson’s coaching career began in 1996 as an assistant with the Milwaukee Bucks. He later served as head coach of the Atlanta Hawks (2004-2010) and New York Knicks (2012-2014), compiling a 315-365 NBA coaching record.
In 2021, he returned to Indiana as head coach, leading the Hoosiers to an 82-53 record and two NCAA Tournament appearances over four seasons.
When Woodson signed with Indiana in March 2021, his six-year contract was valued at $3 million annually, including a $550,000 base salary and $2.45 million from external marketing and promotional sources.
In August 2023, he received a $1 million raise, boosting his annual salary to $4.2 million, making him the third-highest-paid coach in the Big Ten behind Michigan State’s Tom Izzo and Illinois’ Brad Underwood.
His contract, set to run through the 2026-27 season, included bonuses such as $100,000 for a top-three Big Ten finish and up to $685,000 for an NCAA championship. Over his Indiana tenure, Woodson earned approximately $13.2 million.
Net Worth Estimates
Estimates of Mike Woodson’s net worth vary from source to source. As of February 2024, sources report figures ranging from $7 million to $25 million. A conservative estimate, based on his coaching salaries, NBA earnings, and endorsements, places his net worth around $10-$13 million. His primary income sources include:
- Coaching Salaries: His Indiana contract alone contributed over $13 million, with additional earnings from NBA head coaching roles with the Hawks and Knicks.
- NBA Playing Career: Woodson earned at least $650,000 in the 1990-91 season, with total career earnings likely in the low millions.
- Endorsements and Investments: While specific details are not available to the public, Woodson’s long NBA career and Indiana ties suggest additional income from endorsements and personal investments.
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As Woodson transitions to a new chapter, reportedly as a top candidate for an assistant coaching role with the Sacramento Kings, he has a considerable bank account.
While he never secured a national title, Woodson’s impact on Indiana basketball remains indelible. As the Hoosiers search for a new leader, Woodson’s legacy and wealth stand as a testament to his enduring influence in the sport.
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