Buzz's New Deal

[Shanunu]

Jeff Goodman from Fox Sports just tweeted that Buzz is going to probably sign a new deal with Marquette by next weekend. He says that Buzz will likely get more than $2 million a year.

http://goo.gl/B5nIZ

[The Lens]

http://jeffgoodman.yardbarker.com/blog/jeffgoodman/source_buzz_williams_likely_to_restructure_deal_remain_at_marquette/4455406

Buzz Williams is likely remaining at Marquette, sources have told FOXSports.com, and could ink a new deal with the school prior to the Final Four next weekend.

Williams, 38, who has led the Golden Eagles to three consecutive NCAA tournament appearances since taking over after Tom Crean left, is on the verge of signing a new contract that will pay him in excess of $2 million per year.

He has a 69-37 record and led Marquette to the Sweet 16, where the Eagles lost to North Carolina.

Williams was, according to sources, one of the leading candidates for the vacant Oklahoma job.

However, his buyout was excessive at $3.8 million and Williams wasn't sold on the job, anyway, despite the fact that he's a Texas native.

Williams has been working with a six-year rollover deal that paid $1.6 million this past season, according to sources

[Mr. Nielsen]

Isn't Jeff Goodman and Buzz are pretty close?

[martyconlonontherun]

I wish the article would go into more detail. Does this prevent him from leaving this year alone, or multiple years? If so, how? Is it based on the fact we offered him more money so we have his word he is staying, or does it prevent a buy-out for 2 years?

I don't mean to rip on Buzz but if he had no intention of ever leaving and was a man of his word, why did MU have to step up to the plate to keep him?

[NersEllenson]

Isn't Jeff Goodman and Buzz are pretty close?

This is VERY good news that it came from Goodman.  He probably is the tightest with Buzz of any media guy.

[marqfan22]

how many coaches make 2 million a year?
will this the job a top 15 salary?

[pbiflyer]

I don't mean to rip on Buzz but if he had no intention of ever leaving and was a man of his word, why did MU have to step up to the plate to keep him?

Maybe we just stepped up to pay him what he is worth to MARQUETTE, regardless of what he may be worth to other schools.

[ChicosBailBonds]

I wish the article would go into more detail. Does this prevent him from leaving this year alone, or multiple years? If so, how? Is it based on the fact we offered him more money so we have his word he is staying, or does it prevent a buy-out for 2 years?

I don't mean to rip on Buzz but if he had no intention of ever leaving and was a man of his word, why did MU have to step up to the plate to keep him?

There is no contract that prevents him from leaving any year.  He can leave whenever he wants.

[martyconlonontherun]

There is no contract that prevents him from leaving any year.  He can leave whenever he wants.

So it could be a Crean like situation where he gets a raise every time a team is ruined to going after him?

[ChicosBailBonds]

I'm just saying that contracts are made to be broken and there is no contract that binds him here.  If he wants to leave, he can leave....now, he may need to pay a huge buyout penalty, but nothing that puts him into indentured servitude.

Another article

http://www.sbnation.com/ncaa-basketball/2011/3/27/2075075/buzz-williams-marquette-basketball-coach

[MarquetteDano]

http://jeffgoodman.yardbarker.com/blog/jeffgoodman/source_buzz_williams_likely_to_restructure_deal_remain_at_marquette/4455406
However, his buyout was excessive at $3.8 million and Williams wasn't sold on the job, anyway, despite the fact that he's a Texas native.

I hope this is true about his buyout being $3.8 million.  That will really, really cushion the blow IF he leaves, and also make him unattractive to all but the big boys.  Good for the administration that they were able to negotiate a decent buyout.

[martyconlonontherun]

What's a rollover contract?

[MUMac]

What's a rollover contract?

Think of it as a contract that automatically extends each year. 

[ort5210]

What's a rollover contract?

Yea I have been wondering the same thing? whats the difference between that and a regular contact, during my quick google search i couldnt find a clear cut answer

[martyconlonontherun]

Think of it as a contract that automatically extends each year. 

So say he never signed an extension, and he continued on his "roll-over" contract. In 4 years, would he still have 6 years left on his "roll-over contract." If not, still don't understand.

[MUMac]

So say he never signed an extension, and he continued on his "roll-over" contract. In 4 years, would he still have 6 years left on his "roll-over contract." If not, still don't understand.

Correct. 

[GGGG]

I'm sure the contract has a provision that MU could stop the roll-over within a certain window at the end of a season, and then the six year clock would start ticking down.

[HoopsMalone]

Great news.  Hopefully this will provide some certainty with recruits. 

[ChicosBailBonds]

I would be surprised if the buyout remains at the reported $3.8M.  Buzz will likely want that taken down to give him flexibility if his "dream" job opens up.

[Warrior1969]

If Texas ever wants him, they can handle 4 million.

[TJ]

I'm surprised the progression has gotten to Buzz potentially making $2+ million this quickly.  Not that I care, but I didn't think he'd be paid this well by his 4th year here.  Congrats to Buzz on that.

[Shack]

I'm surprised the progression has gotten to Buzz potentially making $2+ million this quickly.  Not that I care, but I didn't think he'd be paid this well by his 4th year here.  Congrats to Buzz on that.

Could be part of the "Milwaukee tax."  Once Milwaukee has good thing going owners/ADs/GM's start to overpay  because they believe it's harder to get someone to stay, regardless of their true market value.  I really hope Buzz is closer to being Al McGuire or Robin Yount than he is Michael Redd. 

[ChicosBailBonds]

If Texas ever wants him, they can handle 4 million.

Yes, but it makes it that much harder.  As a coach, you don't want it too high because very few schools can offer that kind of money for a buyout. 

[Goose]

Kudo's to Buzz and MU if this materializes. Continuity of a program is very critical today. Wish there was a way that we would not need to worry about this next year or the year after for that matter, but so is college ball in 2011.

[Tugg Speedman]

A 6-year roll over contract means every year the contract is extended so it always has six years left.

Why?  If MU ever wants to fire him, we owe him six years of salary, regardless of the year.

So, while we are all happy that his contract has a huge buyout ($3.8 million), the trade-off is we owe him $12 million (6 years at $2 million a year) if we fire him.

Looks like Buzz is with us for a while.  The buyout and current salary makes him too expensive to hire and the six year rollover makes him too expense to fire.