According to the report, Hardaway, who played for the Tigers from 1991 to 1993, would target the great Larry Brown as an assistant coach were he to replace Smith.
Hardaway currently coaches East High School (Memphis, Tenn.) and runs the Team Penny AAU program on the Nike EYBL circuit.
Memphis could be interested in Hardaway to lure in prospects that Hardaway has coached including junior James Wiseman (East High School), five-star junior Chandler Lawson (East High School) along with five-star junior D.J. Jeffries who also plays for Team Penny.
According to the Memphis Commercial Appeal, attendance at Memphis games this season is the lowest since 1969-70 so the school is looking to bring in someone who can help pump life back into the program and with the name recognition of Hardaway, a name such as his could do the trick.
Smith has a $9.75 million buyout and his contract requires Memphis to pay his full salary if they do indeed fire him.