Malone, 57, led the Denver Nuggets to their first-ever NBA Championship during the 2022-2023 season and became the franchise's all-time leader in wins (471) as their head coach.
After spending a decade as an assistant coach in the NBA, Malone started his head coaching career with the Sacramento Kings, where he spent two seasons before spending the next 10 in Denver.
In his 10 years with the Nuggets, the team had only two losing records - his first two seasons. Since then, Denver had never once finished a season with fewer than 46 wins.
As for UNC, they've faced back-to-back years of being bounced in the first round of the NCAA tournament under Davis. In his first season with the team, Davis led the Tar Heels to the Finals, where they lost to Kansas 72-69.
The following year, UNC failed to make the tournament for just the fifth time since 2000 before making it to the Sweet 16 the following year to be eliminated by Alabama - the same year UNC won the ACC Championship for the first, and only, time under Davis as head coach.
Malone hasn't coached in college since 2001, when he was an assistant for Manhattan College.