Jim Valvano, who in five years led Iona College from obscurity to a 29-5 record, will be named basketball coach at North Carolina State University this morning.

Valvano, 34, will be introduced at a 10 a.m. State press conference, ending a month-long search for a replacement for Norman Sloan, who resigned to take a similar job at the University of Florida.

Valvano announced his resignation last night and Pat Kennedy, his top assistant at Iona, was named the new coach.

Valvano reportedly will interview Marty Fletcher, one of two Sloan assistants who did not accompany him to Florida, after today's press conference about an assistantship under Valvano.

The length and terms of Valvano's contract could not be learned last night. But, when De Matha Coach Morgan Wooten was talking to State officials before he withdrew his candidacy, he reportedly was told the total package would be worth $140,000 annually.

As coach and athletic director at Iona, Valvano reportedly made $50,000 to $60,000 annually. He also owns a disco in New Rochelle named The Fonz.

The Atlantic Coast Conference job will be his first at the college level in which he has not been faced with an immediate rebuilding task. Before coming to Iona, the former Rutgers University guard turned around programs at John Hopkins and Bucknell.