Miami, FL (My Sportsbook) - Florida International University introduced Isiah Thomas as its new men's basketball coach on Wednesday and the Hall of Famer said he is ready to take on the new challenge.

"I like rolling up my sleeves," said Thomas, who will coach on the collegiate level for the first time after spending five seasons as an NBA mentor. "I like taking something from the bottom and taking it to the top. There's a lot of risk in that and there's a lot of reward in that.

"I want to take FIU to the next level."

And he's doing it for nothing.

During the news conference, athletic director Pete Garcia said Thomas is donating his first year's salary back to the university.

FIU's position became vacant on Monday when Sergio Rouco was reassigned within the school's athletic department after five seasons at the helm. The Golden Panthers were 55-94 under Rouco, including a 13-20 mark this past season.

Garcia, who knew Thomas through mutual friends, said the hiring of the former Detroit Pistons star was not made to gain publicity for the school.

"The importance of this hire for FIU is a landmark day in our history," Garcia stated. "We have a lot great things to offer at this university."

Thomas led the Pistons to a pair of NBA titles during his 13-year Hall of Fame playing career and has also worked in the front offices of the Toronto Raptors and New York Knicks. He also coached the Knicks for two disastrous seasons and spent three seasons on the bench with the Indiana Pacers.

College will be different for Thomas, but not on the floor.

"Basketball is basketball, whether it's at the grade school level, college level or professional level," Thomas said. "When you talk about basketball, you really talk about the fundamentals.

"The rules outside of basketball, those are things I'll have to get up to speed on. I have to do a little more studying. I'm willing to learn. I think I can catch up."

Before taking the FIU job, Thomas spoke with a couple of college legends about building a program.

"I talked a lot with coach [Bob] Knight and Coach K about how Indiana got started, about how Duke got started," Thomas said in mentioning his former college coach at Indiana and Duke's Mike Krzyzewski. "We can build a very exciting program here. I'm very excited to bring the best players here, to recruit the best players."

Thomas, who turns 48 at the end of this month, has a career coaching record of 187-223. His Indiana teams never advanced past the first round of the playoffs and the Knicks didn't make the postseason during his short tenure. He was also New York's team president for five years.

"I loved New York. I loved the Knicks," Thomas said. "My regret is that I wasn't able to deliver what the people in New York wanted -- a championship. I don't think there's a person there that won't understand how hard I tried to give New York what they wanted. I wasn't able to do it. I regret I wasn't able to give them the championship they yearn for and desire."

Thomas' tenure with the Knicks was also marred by a sexual harassment lawsuit filed by former team executive Anucha Browne Sanders. This past October, he was hospitalized in Westchester County after an apparent overdose of sleeping pills.

Garcia said those issues were investigated and Thomas briefly addressed the past history without going into much detail.

"It's safe to say, the last two years have definitely taken a toll on my family," Thomas said. "I think all of us are pretty comfortable with who we are and what we stand for."

Despite his lack of overall success as a coach, Thomas was a tremendous player in both college and the NBA. He led Indiana to the 1981 national title, then was selected by the Pistons with the second overall pick of the 1981 draft.

The Chicago native led the Pistons to the 1989 and 1990 NBA titles, capturing the Finals MVP in '90. He was a 12-time NBA All-Star, was selected to the league's 50th Anniversary all-time team in 1996 and was elected to the Naismith Basketball Hall of Fame in his first year of eligibility in 2000.

"We want to win. We understand that winning is a process," Thomas remarked. "We understand it takes a lot of hard work, a lot of commitment. We understand the work that's ahead of us. We understand the commitment it takes to take this program to the next level."