By <a class="c-link lrv-a-unstyle-link" href="https://www.sportico.com/author/daniel-libit/" > Daniel Libit</a> <br>Sports Investigative Reporter<br> Jim Larrañaga could handle—and repeatedly thrived—in the old college sports system, where athletes could only get paid under-the-table, even if that meant the Feds might subpoena his text messages. But the 75-year-old <a href="https://www.sportico.com/t/university-of-miami/" id="auto-tag_university-of-miami_1" data-tag="university-of-miami" >University of Miami</a> head men’s basketball coach acknowledged this week that he didn’t have what it takes—at least not at this point in his career—to compete for talent in the unfolding open market.<br> This, despite the fact that Larrañaga’s 2022-23 national semifinalist team, led by Kansas State transfer Nijel Pack, became an early archetype for the new epoch of booster-funded <a href="https://www.sportico.com/t/nil/" id="auto-tag_nil_1" data-tag="nil" >NIL</a>.<br> In a surprise announcement Thursday, Larrañaga said he would be immediately stepping down as the Hurricanes’ coach, just two seasons after leading the program to its first Final Four. His current contract, which was extended in May 2023, ran through the end of next academic year. Miami is currently 4-8 this season after winning its first three games. <div class="admz" id="adm-inline-article-ad-1"> <div class="adma boomerang" data-device="Desktop" data-width="300"> <div style="min-width:300px;min-height:275px;" class="pmc-adm-boomerang-pub-div ad-text" data-priority="10" > <div id="gpt-sprt-dsk-tab-midarticle-uid0" class="adw-300 adh-250" data-is-adhesion-ad=""> <script type="application/javascript">
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