The decision came following the team's loss in the Metro Atlantic Athletic Conference (MAAC) title game to Mount St. Mary's, who will face American for a play-in spot in the NCAA tournament. The winner will face top-seeded Duke.
Iona even upset top-conference seed Quinnipiac 81-73 en route to the conference title game, but the program still decided to go in a different direction.
"We appreciate Tobin and everything he has done for our program," said Iona Athletic Director Matthew Glovaski in a statement. "He has been a valuable member of our Iona community. With the impact of NIL changing college basketball in ways no one could have imagined, Iona feels the need to shift the direction of our men's basketball program. This requires an overhaul of our entire business model and program structure."
Iona finished 17-17 overall this year (12-8 conference), marking back-to-back seasons under Anderson without a winning record.
He finishes with a 33-34 record, zero NCAA tournament appearances, and zero conference titles at Iona. However, most are arguing against the decision since Anderson was left to basically restart the program from scratch.
In the spirit of March Madness, for those who may forget, Anderson was the head coach of 16th-seed Fairleigh Dickinson when they knocked off number one-seeded Purdue, becoming just the second 16th seed in NCAA tournament history to do so.
New Orleans Pelicans assistant coach Dan Geriot is currently the front runner to replace Anderson's job at Iona.