John Thompson Net Worth

What was John Thompson net worth?

The late John Thompson was an American college basketball coach with an estimated net worth of $5.5 million. John Thompson left the world on August 30, 2020, when he was 78 years old, having left a legacy larger than life. His most lasting contribution came during his 27-year tenure as the head coach of the Georgetown men’s basketball team. Most importantly, Thompson will be remembered as the first African-American head coach to have secured a major college athletic championship. This historic feat was achieved when the Hoyas emerged victorious in the NCAA Tournament of 1984.

Biography

Born on September 2, 1941, in Washington, D.C., John Thompson first came to acclaim as a brilliant basketball player when he was still at high school at Archbishop Carroll. He graduated as the leading scorer in the history of the Washington Catholic Athletic Conference and went on to enjoy much success within college basketball at Providence College, where he would leave his name among all-time leaders in points, assists, and steals, all the while setting numerous school records and earning All-American honors. Drafted in 1964 by the Boston Celtics, life took a defining twist for Thompson when he found out that he was actually called into coaching. Thus, he retired from professional play in 1966 to pursue the current calling.

Thompson started his coaching career with St. Anthony High School, coaching from 1966 to 1972 with a brilliant record of 122-28. He then became the head coach at Georgetown University, where he was working until his death. Thompson’s seven Coach of the Year Awards over almost three decades with the team helped to make Georgetown a college basketball powerhouse. Under his tenure, the team boasted a formative 596-239 record before he retired in 1996.

During his tenure at Georgetown, Thompson mentored numerous future basketball legends, including Allen Iverson, Alonzo Mourning, and Patrick Ewing. More than two decades later, a player that Ewing was, he succeeded Thompson’s son, John Thompson III, as head coach at Georgetown, where he had been coaching since 2004.

After retiring from coaching, Thompson continues being a commentator on sport, and for many years, he hands the experience and the perspective from years back down to the basketball community.

Salary and Career Earnings

Decades following his retirement as head coach, Thompson continued to receive compensation from Georgetown University. University tax records show that Thompson was paid an annual salary of $405,000 and benefits totaling $26,000 for the title “presidential consultant for urban affairs.” When asked about this in 2006, school officials at Georgetown said the payment represented some of Thompson’s deferred compensation during his 27 years of coaching. Georgetown University President Jack DeGioia said that the university, under Thompson’s coaching tenure, found it hard to meet the scale of remuneration similar to his colleagues and resorted to the deferred payment structure to reflect his commitment.

Only a decade before the new century, the men’s basketball head coaches usually pocketed between $200,000 and $400,000 on an annual basis. The exact earnings of Thompson throughout were not however revealed, and in his last season, 1998-1999, he received a salary amounting to $610,040, supplemented with $24,529 in deferred compensation. Evidently, contemporaneous basketball coaches drew between $800,000 to $1 million per annum.

The revelation of Thompson’s deferred compensation places him as the second-highest-paid employee of Georgetown, only trailing President Jack DeGioia, whose earnings amount to $512,228.

A striking juxtaposition comes when one examines John Thompson’s son’s earnings, John Thompson III, who coached 13 seasons as head coach of the Hoyas. Had a top salary of $3.6 million—nearly triple his father’s most highly paid year and almost 10 times more than his papa, who made in the early ’70s when he became the first African-American head coach to Another Thompson II Hoya player, Patrick Ewing, was brought in to lead the Hoyas in 2017 as head coach at a $4 million annual salary.

FAQ about John Thompson Net Worth

1. What was John Thompson net worth before his passing?
   • John Thompson net worth was $5.5 million at the time of his death in August 2020.
2. What was John Thompson’s most notable achievement as a basketball coach?
   • Thompson’s most significant accomplishment was leading the Georgetown men’s basketball team to victory in the NCAA Tournament of 1984, making him the first African-American head coach to secure a major college athletic championship.
3. Where was John Thompson born and raised?
   • John Thompson was born on September 2, 1941, in Washington, D.C.
4. What were John Thompson’s contributions to Georgetown University’s basketball program?
   • Thompson served as the head coach of the Georgetown men’s basketball team for 27 seasons, during which he earned seven Coach of the Year Awards and transformed the team into a powerhouse in college basketball.
5. Who were some notable players mentored by John Thompson during his coaching career?
   • Thompson mentored several future basketball legends, including Allen Iverson, Alonzo Mourning, and Patrick Ewing.
6. What was John Thompson’s salary during his coaching tenure at Georgetown University?
   • While the exact figures from his coaching years remain undisclosed, Thompson’s final season salary in 1998-1999 was $610,040, supplemented by deferred compensation.
7. Did John Thompson receive compensation after retiring from coaching?
   • Yes, Georgetown University continued to compensate Thompson post-retirement, with an annual salary of $405,000 plus benefits, under the title of “presidential consultant for urban affairs.”
8. How did John Thompson’s earnings compare to his successors at Georgetown?
   • Thompson’s son, John Thompson III, earned a peak salary of $3.6 million during his coaching tenure, surpassing his father’s earnings. Patrick Ewing, another former player under Thompson, commanded an annual salary of $4 million as head coach.

Quick Summary

1. Last year, John Thompson, the unapologetic black man from the projects who became one of the most revered and successful coaches in college basketball history, died with an estimated net worth of $5.5 million. In 1984, as champions, Georgetown claimed their title with him being the first black coach to have ever won a major college championship. Thompson’s run began by him being a standout player before switching to coaching, where he excellently participated at St. Anthony High School before proceeding to Georgetown University. He earned seven Coach of the Year Awards during his near three-decade tenure with the Hoyas.
2. He later worked as an analyst. He had also been on a payroll annually by Georgetown as compensation for deferred payment to him for coaching, which was $405,000 plus benefits. This was as an appreciation of the hard work he had done for the program. His successors at Georgetown, including his son John Thompson III and one of his former players, Patrick Ewing, gave themselves much higher salaries for the head coach position.

Mahbubur R. Mamun

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