There was nothing wrong with that column. Don't let your views of Jacobs cloud your judgment.
I don't know the man at all, but as a father, I'd think that after 12 team changes in 13 years during his kids' formative years and building up a nice little nest egg that will take care of his grandchildren's' children, Ollie wants to take a few years off from the vagabond lifestyle. The Celtics have Brad Stevens and a long term vision (bad luck in the lottery notwithstanding) and Ollie is not high profile enough...right now...for the Knicks. Beyond that, an NBA contract is not iron clad. I'm not saying that a college contract is, but Ollie would be expected to win immediately in the NBA. If a turnaround takes longer than three years, he's gone. Yes, he earn $12-15 Mil plus a buyout, but no job certainty and he will become used goods.
By winning the nation championship, Ollie has earned probably 4-5 years of goodwill at UConn. Does he have to win another Championship in that timeframe? I don't think so (it took Calhoun 13 years to win his first and 7 years between '04 and the improbable '11 run.), but it will certainly help. In the 5 year period, Ollie will bank the same $15 million he would have in the NBA, but he will have more options. Of course that presupposes that Ollie fails in the NBA and be a success in college. On the other hand it is not a far leap. Who was the last "successful college coach to make the jump (if you concede that the jury is still out on Brad Stevens)? Ollie has already proven to be a success in college.
That said, If his daughter is close to graduation, I think he considers the NBA a little more toward the end of this contract.