Jeff Jones has been named as the 13th head men's basketball coach at Old Dominion University. Jones has agreed to a five-year agreement with a pay of $440,000 annually and performance bonuses.

Jones, 52, will also be given amounts required for radio, television and marketing. He will be replacing former coach Blaine Taylor, who was fired in February, a month earlier to the finish of his 12th season.

University officials alleged that one of the reasons for ousting Taylor was because of the team's dismal performance after they posted a record of 2-20.

"I am very impressed with the growth of ODU and came away from my interview with great respect for President John Broderick and his vision for the university and commitment to a successful athletic program," Jones said. "The facilities, including the Constant Center, are outstanding, and the community support and attendance for men's basketball is incredible.

Prior to Old Dominion, Jones was the head basketball coach at American University for the past 13 years, and for eight years at the University of Virginia.

Possessing an overall 21 years of experience of coaching basketball program, Jones posted a 212-182 record at American University and 146-104 as head coach of the University of Virginia. Both his teams qualified for nine postseason appearances, including six at UVa and three at AU; a 1995 NCAA Elite Eight, a 1993 NCAA Sweet 16 appearance and a 1992 NIT championship at UVa.

Director of Athletics Wood Selig feels that Jones was the right choice to lead Division I men's basketball program, as he is one of the most respected head basketball coaches in the country.

University signed a different deal with Jones

Comparing the salaries of the head coaches, Taylor's salary is claimed to be much higher than Jones', with a base salary of $208,000. Jones' base salary is estimated to be around $206,200, wherein he will receive his remaining salary amount as additional income, which will be given by the Old Dominion Athletic Foundation (ODAF)

While Taylor received his annual ODAF bonus once a year, around April, Jones's ODAF money will be included in his bi-weekly salary.

Jones is also set to receive $500,000 for TV, radio and marketing, compared to the $600,000 allocated for Taylor.