He began his career after graduating from Bethune–Cookman College and spending some time in the Eastern Professional Basketball League, first with the Sunbury Mercuries from 1955 to 1963 and Williamsport Billies from 1963 to 1966.

[2] Inheriting a one-win team in 1966 at Simon Gratz High School in Philadelphia, Chaney compiled a 63–23 record in six seasons.

He was well known for his early-morning practices, match-up zone defense, tough non-conference scheduling, and winning basketball teams.

Chaney entered the conference mid-speech, calling him an "Italian son-of-a-bitch," accusing Calipari of manipulating the referees.

Chaney praised Calipari's coaching ability and defended him over the Derrick Rose controversy at the University of Memphis.

[9] In 2005, Chaney ordered backup forward Nehemiah Ingram into the game to commit hard fouls against Big 5 rival Saint Joseph's in response to what he thought were several missed calls by the referees.

[11] On March 13, 2006, Chaney announced his retirement from coaching at a press conference, effective after Temple's play in the National Invitation Tournament (NIT).

Chaney was later inducted into the Big 5 Hall of Fame, which recognizes the best in Philadelphia's college basketball history.