IU to pay MU $650K for buyout of Crean

[ChicosBailBonds]

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

[mugrad99]

 

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

[GuyIncognito]

Apparently someone in Indiana knows what they're doing when it comes to writing up contracts...

[Fullodds]

I guess that Crean won't pay a penny.  Look for some IU booster to write a check.

[ChicosBailBonds]

Yup.  More importantly, the hope by some that some huge cash windfall was coming our way is officially put to bed.

[Chicago_inferiority_complexes]

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?

[rocky_warrior]

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:

Meanwhile, 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.

[ChicosBailBonds]

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:

Meanwhile, 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.

[TJ]

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:

Meanwhile, 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.

[mu72warrior]

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!!!

[muPARTY]

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".

[4everwarriors]

Where's he going? Its Indiana.

[ecompt]

he'll go to Michigan State tomorrow if Izzo quits.

[MUsoxfan]

He'd go to UL-Monroe if they offered him $10 more than Indiana did