Contract question

[mileskishnish72]

I admit I'm naïve on the issue, but my question is what are the differing financial consequences of firing Wojo versus him leaving (quitting) to take another job?

[33vikes]

No insights but generally if you can the coach, you owe everything on the contract. Sometimes, the institution buys out all the years in 1 payment. Charlie Weiss made like $40M off of ND for not coaching after he got whacked.

He leaves, you owe $0.00.

Again, no specifics but that's how it is typically worded in the contracts.

 

[cheebs09]

I do wonder what was agreed to in that last contract extension. Wojo might have gotten a few extra years, but MU may have gotten a better out clause. That would seem to go against the thought MU brass are all in on Wojo, but the extension was pretty late and understated if I remember.

[dinger]

So just for S&G I looked up the average buyout clause for an NCAA coach and found this:
https://watchstadium.com/college-basketball-coaching-salary-and-buyout-database-for-2019-20-season-10-24-2019/

They obviously don't show private school buyouts but we can probably assume Wojo's contract is similar to other guys in the 30-40 range.
Look at Nate Oats - salary is ~$2.5 mil - buyout is $7.35 million after March 15 this year. Other guys of similar salary are in that area. Some have lower buyouts like Pitino's kid, others have higher. If Wojo's contract is average for 30-40, that would mean potentially paying Wojo in the area of $10 million this year to fire him. This also doesn't list what the buyout is if another school hires the coach away, but a lot of times that can be negotiated away but not always (think Jamie Dixon/UCLA talks last year where UCLA didn't want to pay TCU $8m for Dixon). So if we fire Wojo for no cause, hire someone away from another school, the total bill could be well north of $10 mill. So while I am pretty firm NoJo, firing him just isn't gonna happen.

[Jay Bee]

No insights but generally if you can the coach, you owe everything on the contract. Sometimes, the institution buys out all the years in 1 payment. Charlie Weiss made like $40M off of ND for not coaching after he got whacked.

He leaves, you owe $0.00.

Again, no specifics but that's how it is typically worded in the contracts.

#FakeNews
#Lies

This is patently false. Owing “everything” would be exceedingly rare.

Wojo’s contract isn’t available to the public. Anywhere from $1 to $4 million would be a reasonable estimate. *Could be* more.

[Jay Bee]

So just for S&G I looked up the average buyout clause for an NCAA coach and found this:
https://watchstadium.com/college-basketball-coaching-salary-and-buyout-database-for-2019-20-season-10-24-2019/

They obviously don't show private school buyouts but we can probably assume Wojo's contract is similar to other guys in the 30-40 range.
Look at Nate Oats - salary is ~$2.5 mil - buyout is $7.35 million after March 15 this year. Other guys of similar salary are in that area. Some have lower buyouts like Pitino's kid, others have higher. If Wojo's contract is average for 30-40, that would mean potentially paying Wojo in the area of $10 million this year to fire him. This also doesn't list what the buyout is if another school hires the coach away, but a lot of times that can be negotiated away but not always (think Jamie Dixon/UCLA talks last year where UCLA didn't want to pay TCU $8m for Dixon). So if we fire Wojo for no cause, hire someone away from another school, the total bill could be well north of $10 mill. So while I am pretty firm NoJo, firing him just isn't gonna happen.

Your take is wrong and that website is filled with misinformation and flawed calculations.

[Mike Deane's Seat Belt]

The thought of buying out this poser of a coach with tuition and donor money makes me sick but it might be necessary because I dont think anybody is desperate enough to hire this loser unless he downgrades in program.   Really hope the donations suffer until he is off campus for good!

[dinger]

Your take is wrong and that website is filled with misinformation and flawed calculations.

Ok - help me out here
How much would it cost to fire a coach like Wojo?
How much would it cost to buy out another coach?
Is there another aggregation of contract data that is better?
Thanks in advance?

[willie warrior]

No insights but generally if you can the coach, you owe everything on the contract. Sometimes, the institution buys out all the years in 1 payment. Charlie Weiss made like $40M off of ND for not coaching after he got whacked.

He leaves, you owe $0.00.

Again, no specifics but that's how it is typically worded in the contracts.

 

Weiss didnt get it all in 1 payment. He was still getting a salary 5 years after he was whacked and was making more money than the next coach

[Jay Bee]

Ok - help me out here
How much would it cost to fire a coach like Wojo?
How much would it cost to buy out another coach?
Is there another aggregation of contract data that is better?
Thanks in advance?

It depends
It depends
Yes