During his time as an assistant coach for the Memphis Grizzlies, Damon Stoudamire played a vital role in the team's most successful season in franchise history. In the 2010-2011 season, they finished third in the Southwest Division with an impressive 46-36 record. 

In a recent episode of 'Broken Play', Stoudamire revealed that his coaching job with the Grizzlies came about because the team's then-owner, Michael Heisley, owed him money. Heisley, who had a net worth of $1.9 billion, owed Stoudamire some money and decided to offer him the coaching position as a way to settle the debt. Stoudamire explained, "He told the new coach, Lionel Hollins, 'We'll call Damon cause I owe him some money . .. anyway.'"

Stoudamire's path to coaching began after his playing career took a downturn. As a player, he had signed a four-year deal with the Grizzlies, hoping to lead the team as a veteran presence. However, an early-season injury and subsequent surgery derailed his plans, and he never fully regained his form. The Grizzlies ultimately waived him in 2008.

Stoudamire's coaching career also includes stints with college teams such as Memphis, Arizona, and Rice. His strong playing and coaching profile have earned him a five-year contract with Georgia Tech, and the team's officials have high hopes for his ability to strengthen the program.