Thunder name Billy Donovan head coach, deal reportedly worth $30M

The Oklahoma City Thunder have found their third head coach in franchise history.

The Thunder have named former University of Florida head coach Billy Donovan as the team's new head coach, announcing him as the replacement for the deposed Scott Brooks on Thursday.

"I am honored and humbled to be named the head coach of the Oklahoma City Thunder. I knew that it would take a unique opportunity to leave the University of Florida and that is clearly how I look at this situation," said Billy Donovan in a statement.

Read More: Thunder bet on culture over NBA experience in hiring Billy Donovan

The Thunder showed no concerns with dipping into the college ranks for their next head coach, eschewing NBA experience for a perceived cultural fit. General manager Sam Presti highlighted the philosophical similarities between Donovan and the Thunder organization when introducing the 50-year-old:

It became quite evident that Billy was the ideal fit for the Thunder as we look to transition our team into the future.

Billy has achieved an incredible level of success and experience within his 21 years as a head coach and has shown the unique ability to not only create but sustain an elite program.
...
Billy's core values and alignment with our culture and community, as well as his proven tactical abilities, make him an ideal addition to the Thunder organization.

It was reported early Wednesday that Donovan was leaning toward taking the job and that the team was preparing a formal contract offer, and multiple media outlets reported that he was in the process of finalizing the deal. Since Donovan has a contract with the Gators through 2020, he owes the school, with whom he spent 19 years, his $500,000 buyout.

The two-time college national champion has signed a five-year agreement worth a reported $30 million, according to a report from Adrian Wojnarowski of Yahoo Sports.

That would make Donovoan one of the highest paid coaches in the league. Doc Rivers and Stan Van Gundy are the only coaches believed to make more than that amount, and each also handles front office duties along with their coaching responsibilities. Gregg Popovich, largely considered to be the league's best coach, makes the same $6 million annually that Donovan will.

Donovan's contract at Florida paid him $4 million-plus per season, and it was believed he would require a raise to uproot his family from Gainesville. If that seems expensive for a risky hire, that's because it is, and the Thunder continue to show a willingness to spend that wasn't present just a few years ago.

Presti had been clear at the start of the search that it would be conducted without player input, even though Kevin Durant, the league's reigning MVP, can become a free agent after the 2015-16 season. Durant, meanwhile, had reportedly reached out to the substantial roster of former Donovan charges in the NBA and became "generally positive" about the potential hire.

The coach is familiar with offers at the professional level. In 2007, he agreed to coach the Orlando Magic, but changed his mind and returned to Florida. He was barred from consideration for head coaching positions in the NBA for the duration of that would-be five-year deal.