On Monday night ESPN reported that Wade agreed to a six-year deal to become the next men's head basketball coach at LSU. An LSU contact later also confirmed the hire.
Prior to his time as head coach at Chattanooga and VCU, Wade was an assistant under Smart at VCU from 2009-2013, which included a trip to the Final Four in 2011.
The move comes only days after the Rams were bounced from the NCAA Tournament by Saint Mary's. He made the NCAA Tournament with VCU each of his two seasons on the job, going 26-9 this past season, but was eliminated in the first round.
The last coach LSU hired so young to direct a major sport was 33-year-old Mike Archer to coach the football team in 1987.
Wade replaces Johnny Jones who was sacked earlier this month after a 10-21 season that included a LSU record 15-game losing streak. He was making $1.4 million a year at VCU.
Meanwhile, VCU will have to find another coach who can keep the program on top of the conference, just as it did after Shaka Smart, Anthony Grant and Jeff Capel left for bigger programs. The record was the first time Jones fell below the.500 mark in his tenure as LSU coach.