The Money Involved Here

[TallTitan34]

This is from the main story on cbssportsline.com:

A source told Gary Parrish of CBSSports.com that the deal is in excess of $2 million per season and will be for no less than six years. Another source said the contract might extend to 10 years to ensure it outlasts Crean's current deal at Marquette, which runs through the 2016-17 season.

$2million x 10 years = $20 million + the buyout of Creans Marquette contract has to be close to $16 million.

Coming to a grand total of roughly $36 million dollars for Crean.

[mwbauer7]

$16 Million buyout?

We better not go cheap on this next head coach...

[MarquetteVol]

I love Tom Crean. Always have and always will. But that love comes nowhere near approaching the love TC must have for his agent. As Digger would say, "TC's agent can flat out get it done."

[Daniel]

I do not think the buyout is 16M or anything close to it.  It is not just number of years left on contract times annual salary.  There is usually a buy-out clause with a dollar amount attached to it.  So it might be $2M or $3m or $5M but it won't be $16M.  But it will give us some shopping money.

[TallTitan34]

I do not think the buyout is 16M or anything close to it.  It is not just number of years left on contract times annual salary.  There is usually a buy-out clause with a dollar amount attached to it.  So it might be $2M or $3m or $5M but it won't be $16M.  But it will give us some shopping money.

Oooooooo did not realize that.  Thanks Dan.

[Tom Crean's Tanning Bed]

Not quite with buyouts.  Typically buyouts are for a % of the remaining overall contract or a fixed figure regardless of remaing years on the contract.

My guess with Crean's buyout it was probably somewhere in the range of about $2.5-$3 million overall, which is still nothing to scoff at.  Mark Cuban is backing the Brinks truck up to the Al as we speak.

[Daniel]

It will still give us a good start in hiring a quality coach.  Even a few million extra over a 5 year contract is good cushion money.  We just can't start thinking that we can get someone for what we paid Crean, or less.  That will be a disaster.  We need to hire someone BETTER that Crean now to carry us forward,

[bilsu]

If we are hiring someone else's coach we will be using the money to buy out that contract.

[mufan924]

cant blame the man for leaving and taking a significant raise...but the nonsense he spewed on the jumbotron to the entire MU community prior to every game was a crock...he is a salesman and a good one at that, but i wouldn't buy anything from the man.

[MUDPT]

Indiana's athletic department is already up a river in terms of money.