Coack K to the Lakers, revisited: Why Duke coach famously turned down record-breaking offer in 2004

Mike Krzyzewski, better known as Coach K, had been coaching Duke since 1980 before he retired in 2022.

Krzyzewski and Duke are synonymous even years after he's stepped away from basketball. There was a moment when that may not have been the case, however.

The Los Angeles Lakers needed a head coach after Phil Jackson and the organization parted ways following the 2004 NBA Finals loss to the Detroit Pistons. Krzyzewski received a major offer to be Jackson's successor, but he declined and remained at Duke for nearly two more decades.

Dan Hurley recently made a similar move, spurning the Lakers to remain at UConn. It will be interesting to see if he can build a Coach K-like legacy with the Huskies or if Hurley will live to regret passing on the reported six-year, $70 million deal.

Why didn't Krzyzewski take the lucrative offer from Los Angeles? The Sporting News answers that and revisits Krzyzewski's coaching career at Duke.

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Why did Krzyzewski decline Lakers coaching offer?

Krzyzewski said the decision was fairly easy to stay at Duke because he followed his heart. It sounds cliche, but it's what kept him in Durham, North Carolina.

"Your heart has to be in whatever you lead," Krzyzewski told the Gainesville Sun. "It became apparent that this decision was somewhat easier to make because you have to follow your heart and lead with it and Duke has always taken up my whole heart."

The Lakers hoped Krzyzewski would take over for Jackson after the 2004 squad lost to the Pistons in the NBA Finals.

Jackson had won three straight championships with Shaquille O'Neal and Kobe Bryant at the forefront of the roster. An aging Karl Malone and Gary Payton joined the team in search for Los Angeles' fourth title in five years.

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Krzyzewski won three NCAA championships at that point in his career, and the Lakers offered him a lucrative deal to leave the Blue Devils behind for the purple and gold. The deal was reportedly five years, $40 million, according to ESPN's Stephen A. Smith.

Bryant, who had blossomed into a perennial MVP candidate at this point, was involved in the coaching search and apparently pushing for Krzyzewski.

The search came a few years after Krzyzewski had signed a "lifetime" contract with the Blue Devils. His deal kept him at the university until at least 2011. It wasn't the first time the NBA sought out Krzyzewski either. He was close to a deal with the Celtics in 1990.

Krzyzewski ultimately remained at Duke through the 2021-22 season and won another two championships to put his career total at five.

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Lakers coaching history

Jackson was running the Los Angeles show through the early 2000s before leaving after the 2004 season.

Rudy Tomjanovich and Frank Hamblen split time coaching the Lakers during the 2004-05 season. Los Angeles brought back Jackson one year later.

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This outlook could have been different had Krzyzewski signed on to be the Lakers head coach in 2004.

Coach K Duke record

Coach K Duke salary

Krzyzewski likely raked in over $100 million in earnings over his four-decade career at Duke through contracts, endorsements and bonuses. He retired from coaching in 2022, but he's constantly seen in commercials today.

Here's what his salary breakdown looks like since 2001, according to Sportico and USA Today.

Coach K net worth

Krzyzewski's net worth is listed at $45 million, according to Celebrity Net Worth.