To help the unaware or people who live in a vacuum.
USC head coach Andy Enfield also earned an extension out to 2027-28 earlier today. His name was directly linked to the opening at Maryland, since Enfield has ties to both his native Pennsylvania and time in Maryland.
Coaches like Pike, are in demand when openings happen and will start to happen across the country. My educated guess is a school or more than 1 school, requested permission to inquire about the interest of whatever job may not be open or is already open. Enfield earned his extension, because his name surfaced at Maryland. I am not saying that Maryland, Louisville or others have reached out to Pike's agent, but you would have to be living under a rock, to believe otherwise.
If I went down the list of coaches who are successful, and have elevated dormant programs, there are very few coaches who fit that profile. I am guessing (not really guessing), that Pike's name was asked about by multiple search firms, in regards to offers elsewhere.
So you either have 2 choices if you are Pat Hobbs and RU
A) you allow another school to set the market for your Head Coach and allow him to be poached, which to me, is an immediate "I would fire Hobbs today", if he allowed Pike to leave for more years and or slightly more money.
OR
B) You extend him an additional couple of years, maybe with a raise for Pike, or maybe a slightly more attractive assistant coaching pool, so you reward the entire staff.
I am not the smartest guy, but the choice is relatively easy....give Pike the extension that he and the staff has earned.
The last time this came up as being too soon or foolish was around 2 years ago, as RU was battling to make their 1st NCAA appearance and Pike got his extension in February 2020. Obviously the pandemic hit, but he has put together 3 straight NCAA caliber rosters in a row.
If you wait, the price rarely goes anything other than UP.....I don't see the downside here, whatsoever......