If we re-sign Buzz to a longer term deal after the season, would his seemingly large buyout clause remain intact?
It's been a while since Mr. Naple's business law class, but I'm assuming it wouldn't - which leads me to my next question:
Could Buzz use his leverage this year to both lock up a few extra seasons of job security at Marquette AND get the chance to at least listen if/when other schools come calling in the future (i.e. sign an extension and reduce the buyout clause)?
Because right now it seems like $3.8 million is scaring away many would-be suitors.
(Sorry for the non-game related topic. Regardless of the answer...give 'em hell on Friday boys!)
Quote from: MarquetteNation on March 23, 2011, 08:48:32 PM
If we re-sign Buzz to a longer term deal after the season, would his seemingly large buyout clause remain intact?
It's been a while since Mr. Naple's business law class, but I'm assuming it wouldn't - which leads me to my next question:
Could Buzz use his leverage this year to both lock up a few extra seasons of job security at Marquette AND get the chance to at least listen if/when other schools come calling in the future (i.e. sign an extension and reduce the buyout clause)?
Because right now it seems like $3.8 million is scaring away many would-be suitors.
(Sorry for the non-game related topic. Regardless of the answer...give 'em hell on Friday boys!)
It would be a private contract so the terms are up to the parties. Buzz does have more leverage to get rid of the high buyout this time.
Quote from: HoopsMalone on March 23, 2011, 09:00:48 PM
It would be a private contract so the terms are up to the parties. Buzz does have more leverage to get rid of the high buyout this time.
I would say reduce, not get rid of. I doubt Cottingham would get rid of it entirely. Likely a reduction over the life of the contract as well. If they get rid of it, he could pull a Mike Anderson, sign it and then sign with OU.
After what happened with Crean.....I think the buyout is not going anywhere......
I can see Buzz going to $2m to 2.25m......but the buyout would not go away.....
I think the buyout is a percentage of the "length" and thus "behooves" both sides to keep both sides to keep "renewing".....
Also I think the $3.8 is a little high......
From a lot of reading and thru the process of elimination I am pretty sure it is above $3 million and below $3.8 million.....with no negotiation available for a "lowering" of that number!
I realize coaches want lower buyouts, but if we pony up and pay Buzz like one of the top coaches in the country($2M+), I hope we keep the high buyout as well to protect MU. I don't want to go through this crap every year. Gato on the other board had the suggestion of making it a huge buyout, but letting Buzz pick a job that would be his dream job (maybe Texas, who knows?), and there would be no buyout if he went there. That lets Buzz chase his dreams if he wants to, but protects us from having to deal with this every year. I like that idea.
Regardless of whether its $3 million or even slightly lower, the buyout clause seems to be well above the norm. I think it would be perfectly reasonable for Buzz to offer that he signs an extension but only with a more normalized buyout clause.
That clause would still be quite large (as I assume most buyout clauses are more significant in the first few years), but it would likely lose its luster by the time his "initial" contract would end in three years.
I agree about not wanting to go through this every year. And keeping the high buyout. I love Buzz and want him to stay - I know we are destined for great things.... but all this talk about staying or going is getting tiresome. :(
Quote from: LovinCrowder on March 23, 2011, 09:30:17 PM
but all this talk about staying or going is getting tiresome. :(
+1
Quote from: MarquetteNation on March 23, 2011, 08:48:32 PM
It's been a while since Mr. Naple's business law class
Loved Naples. Dude was hilarious.
First, Naples was a great professor.
As for the buyout, they are each free to agree to a change in terms of the contract. But the operative term is "agree."
One fact that everyone here fails to mention is that when Buzz was given the MU job (and it was a gift) there was an understanding that part of the reason he got the job was so he wouldn't bolt (ie TC) and would commit to MU long term. Buzz isn't going anywhere. I would go into actual physiological shock if he left for another NCAA gig.
Marquette's long term plan put in place when Deane was fired was 1) get the best practice facility and stay in the BC since it's an NBA facility; and 2) get a young coach who committed for the long haul. We have the AL and are still in the BC
TC didn't hold up his end of the deal. Marquette learned it's lesson and will not be repeating recent history with Buzz.
Quote from: drewm88 on March 24, 2011, 10:18:35 AM
Loved Naples. Dude was hilarious.
Tim Reuth. Hilarious and really tied into hoops. Anyone know where he is?
Quote from: Avenue Commons on March 24, 2011, 10:33:21 AM
First, Naples was a great professor.
As for the buyout, they are each free to agree to a change in terms of the contract. But the operative term is "agree."
One fact that everyone here fails to mention is that when Buzz was given the MU job (and it was a gift) there was an understanding that part of the reason he got the job was so he wouldn't bolt (ie TC) and would commit to MU long term. Buzz isn't going anywhere. I would go into actual physiological shock if he left for another NCAA gig.
Marquette's long term plan put in place when Deane was fired was 1) get the best practice facility and stay in the BC since it's an NBA facility; and 2) get a young coach who committed for the long haul. We have the AL and are still in the BC
TC didn't hold up his end of the deal. Marquette learned it's lesson and will not be repeating recent history with Buzz.
Seems to me the more MU commits (length of contract) the more Buzz commits (buyout). I can see where it goes down over time, but TC had a $600,000(?) buyout. Outrageously low for a 10 year commitment.
Quote from: Avenue Commons on March 24, 2011, 10:33:21 AM
First, Naples was a great professor.
As for the buyout, they are each free to agree to a change in terms of the contract. But the operative term is "agree."
One fact that everyone here fails to mention is that when Buzz was given the MU job (and it was a gift) there was an understanding that part of the reason he got the job was so he wouldn't bolt (ie TC) and would commit to MU long term. Buzz isn't going anywhere. I would go into actual physiological shock if he left for another NCAA gig.
Marquette's long term plan put in place when Deane was fired was 1) get the best practice facility and stay in the BC since it's an NBA facility; and 2) get a young coach who committed for the long haul. We have the AL and are still in the BC
TC didn't hold up his end of the deal. Marquette learned it's lesson and will not be repeating recent history with Buzz.
I agree completely. I hope it happens just as you have said - that the university still has those same goals and Buzz is committed for the long haul.
As I've said, I believe the extension is already in place... heck, there might have even been a vesting clause in the current contract that Buzz hit after the buzzer sounded in Cleveland on Sunday.
Quote from: Avenue Commons on March 24, 2011, 10:33:21 AM
One fact that everyone here fails to mention is that when Buzz was given the MU job (and it was a gift) there was an understanding that part of the reason he got the job was so he wouldn't bolt (ie TC) and would commit to MU long term. Buzz isn't going anywhere. I would go into actual physiological shock if he left for another NCAA gig.
This is the first I'm hearing of this, but I can't say that I disagree. For a university whose identity - right or wrong - is mostly tied up in its basketball program, long-term stability is crucial to not only the success of the basketball team but also the progress and competitiveness of Marquette in today's higher education world.
[Disclaimer - the following is pure speculation of one possible scenario, it is not intended to be construed as truth or reality]I'm going to go one step further (or backward) and say that perhaps the "understanding" wasn't conveyed at the time Buzz took the head coaching position... it was conveyed when he was hired as an assistant. Maybe there was something in the extension with TC in 2003 that if he did leave, he could only do so by meeting certain conditions, i.e. having a suitable successor, an heir apparent if you will, in place. Quite possibly, Buzz knew that when TC hired him, he was going to be the head coach in a year or two on the condition that if he performed, he was going to be around for the long term.
Buzz wouldn't have had much leverage at the time. A coach with one year of D-I experience is offered a position as the eventual head coach of a Big East team on the one condition that there would be a probationary period of 6 years, and if he succeeded the university would have a "club option" to retain him for a long time.
The above seems a bit crazy, however:
1) This is nothing compared to what people put into personnel contracts these days,
2) It would explain why Buzz was making $400,000 as an assistant coach, and
3) It would explain why Buzz was hired so quickly after TC resigned.
Perhaps, when Buzz said, "I'll be here as long as they'll have me," he was making a statement of obligation, not desire.
Quotehttp://espn.go.com/blog/boston/high-school/post/_/id/5800/nd-preps-mayo-commits-to-marquette
ESPN's Adam Finkelstein reported earlier today that Notre Dame Prep shooting guard Todd Mayo, the younger brother of NBA star O.J. Mayo, has verbally committed to Marquette University for the fall of 2011.
"I've had a long year here at Notre Dame Prep, and while some schools are picking up interest now, Marquette has been loyal to me the entire time," Mayo, a McDonald's All-American nominee, told Finkelstein. "Their whole staff has seen me play and they all feel like I'm a great fit for the Marquette family."
I truly believe Buzz stays and it's because I believe he is shares this same attitude that Todd Mayo displayed in this quote.
Wouldn't it be great if coaches in general had the same sense of loyalty and honor that some high school kids do? I've heard a similar quote to that with recruits many many times; with coaches it seems to be the exact opposite (again, not Buzz or a few other good examples).