Penny Hardaway is Memphis' new men's basketball coach and school officials hope he can rejuvenate the program at his alma mater.

Hardaway is a former NBA player who starred at Memphis in the early 1990s. He replaces Tubby Smith, who was fired Wednesday after two seasons as the Tigers coach. Smith's tenure with Memphis fell short of expectations on the court and didn't draw fan interest _ a combination that led to decreased attendance and diminishing donations.

Smith went 40-26 but failed to reach the postseason. Attendance this season dropped to its lowest level in 48 years.

The university owes Smith almost $10 million after buying out the final three years of his contract.

Hardaway has no college coaching experience but just led East High in Memphis to a third straight Tennessee Class AAA state title.