This is likely not the entire buyout as Crean might have to pick up a little bit of it
http://www.theindychannel.com/sports/15795932/detail.html?rss=ind&psp=news
:o :-*
3 million buyout first 3 years
2 million next 2 years
1 million final 3 years
http://www.indystar.com/apps/pbcs.dll/article?AID=/20080404/SPORTS0601/804040493
Apparently someone in Indiana knows what they're doing when it comes to writing up contracts...
I guess that Crean won't pay a penny. Look for some IU booster to write a check.
Yup. More importantly, the hope by some that some huge cash windfall was coming our way is officially put to bed.
Was it Cottingham who did the contract?
So the guy who wrote a buy out in a contract of $650k 2 years into a 10 year contract is now chosing the next HC?
Quote from: ChicosBailBonds on April 04, 2008, 03:07:17 PM
Yup. More importantly, the hope by some that some huge cash windfall was coming our way is officially put to bed.
I'm not so certain about that. The quote is exactly:
QuoteMeanwhile, Indiana has agreed to pay $650,000 to help buy out Crean's contract at Marquette, where he was signed through 2017.
$650k sounds like a peace offering. I'm thinking MU will negotiate for a LOT more.
Quote from: rocky_warrior on April 04, 2008, 03:11:23 PM
Quote from: ChicosBailBonds on April 04, 2008, 03:07:17 PM
Yup. More importantly, the hope by some that some huge cash windfall was coming our way is officially put to bed.
I'm not so certain about that. The quote is exactly:
QuoteMeanwhile, Indiana has agreed to pay $650,000 to help buy out Crean's contract at Marquette, where he was signed through 2017.
$650k sounds like a peace offering. I'm thinking MU will negotiate for a LOT more.
Yup, it's only a portion....though I'll just say that a reporter I spoke with thought the buyout was only in the 6 figure range so that would be consistent.
I just don't think we're getting radically crazy numbers like some have suggested....like $10 million. That just isn't going to happen. MU will be lucky to get a few million tops and I'd not be surprised if they got less.
Quote from: ChicosBailBonds on April 04, 2008, 03:21:04 PM
Quote from: rocky_warrior on April 04, 2008, 03:11:23 PM
Quote from: ChicosBailBonds on April 04, 2008, 03:07:17 PM
Yup. More importantly, the hope by some that some huge cash windfall was coming our way is officially put to bed.
I'm not so certain about that. The quote is exactly:
QuoteMeanwhile, Indiana has agreed to pay $650,000 to help buy out Crean's contract at Marquette, where he was signed through 2017.
$650k sounds like a peace offering. I'm thinking MU will negotiate for a LOT more.
Yup, it's only a portion....though I'll just say that a reporter I spoke with thought the buyout was only in the 6 figure range so that would be consistent.
I just don't think we're getting radically crazy numbers like some have suggested....like $10 million. That just isn't going to happen. MU will be lucky to get a few million tops and I'd not be surprised if they got less.
I hope no one really believed it could ever be more than $2 million. And that would have been really high. Look at the top stories: "Crean Would Owe $3M If He Resigns Within 3 Years (WRTV Indianapolis)" There's no way our contract with Crean has a bigger buyout than theirs.
Who's the dumb male offspring of a female dog that wrote up that buyout clause! No wonder they leave, we hold the door open for them!!!
i find it funny that it's $3mil for yrs 1, 2, & 3 then $2mil for yrs 4 & 5 then a $1mil after that.
i put him lasting at IU for only 5yrs, and guess what after yr 5, it's only $1mil if he was to "leave".
Where's he going? Its Indiana.
he'll go to Michigan State tomorrow if Izzo quits.
He'd go to UL-Monroe if they offered him $10 more than Indiana did