New Mexico hires UC San Diego basketball coach Eric Olen

Mark Zeigler, The San Diego Union-Tribune on Mar 30, 2025

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SAN DIEGO — Eric Olen is a New Mexico Lobo.

The architect of UC San Diego’s magical men’s basketball season that came within a rimmed-out 3-pointer from taking mighty Michigan to overtime in the NCAA Tournament has been hired by New Mexico. The San Diego Union-Tribune reported Saturday that he was a finalist for the job; UNM announced the hire Sunday morning.

Olen said he was “honored” to be the Lobos’ new coach.

“This is one of the most special programs in college basketball, and my family and I are thrilled to be a part of Lobo Nation!” he said. “I can’t wait to get to work and write the next great chapter in New Mexico basketball history.”

The Lobos finished 27-8, claimed the Mountain West regular-season title and won a game in the NCAA Tournament, but then lost against Michigan State and lost coach Richard Pitino to Xavier of the Big East.

UNM athletic director Fernando Lovo called Olen “a proven winner with an incredible track record.”

“Beyond the accolades and success on the court, he is a values-driven leader who puts student-athletes first,” Lovo said. “We’re confident he’ll bring tremendous energy and vision to our program. Please join me in giving a warm welcome to Eric, his wife Lauren, and their daughters Avery and Madeline — we’re excited to have them join the Lobo family here in Albuquerque.”

The other known finalist was Andy Kennedy from Alabama-Birmingham, but Olen is younger (44 compared to 57) and likely came far cheaper, with his contract buyout lowered from $712,000 to $150,000 when he signed a new deal last summer.

Details like that have become important for mid-major programs scrambling to keep up with the explosion of NIL payments to players. Everything saved in paying or acquiring coaches can be diverted to building a competitive roster.

Olen’s base salary at UCSD went from $270,000 to $345,000 in his new contract, plus an $85,000 “talent fee” that took it to $430,000. Performance bonuses for Big West coach of the year and the NCAA Tournament appearance elevate it to $485,000, although he will not qualify for a $65,000 “retention” bonus that was triggered only if he was still at UCSD on June 30.

Olen likely will double or triple his salary at New Mexico. Pitino made $1.2 million last season.

For UCSD, it is the latest challenge to sustaining the incredible success realized in the school’s first year as a full-fledged NCAA Division I member. The top three players — Big West Player of the Year Aniwaniwa Tait-Jones, Big West Defensive Player of the Year Hayden Gray and all-conference sharpshooter Tyler McGhie — were all fifth-year seniors and out of eligibility. Now the head coach for the past 12 seasons is gone, too.

And a campus-wide hiring freeze for faculty and staff amid major projected budget shortfalls may hamper efforts to replace him and any assistants he takes with him to Albuquerque.

When asked last month how that might impact a job search when Nobel Prize winners across campus are being told to slash their budgets, UCSD athletic director Earl Edwards said:

“Those things I still have to sort out. I couldn’t say one way or the other. It could impact us, but I’m hoping that it doesn’t, particularly if we’re using funds that are generated funds versus state funds.”

It may mean UCSD has no choice but to promote associate head coach Clint Allard, who many predicted would be the lead candidate for the position anyway should Olen leave.

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