Buzz receives $2 million bonus

[GGGG]

From the Milwaukee Journal Sentinal....

June 6, 2011 7:29 a.m. | Marquette University has made no secret of its admiration for men's basketball coach.

In the university's eyes, Williams is the ideal fit for the school: a good coach with high values and a leader who cares for his student-athletes.

It's that kind of coach that other athletic programs around the country covet. Marquette, it is clear, worked hard to keep Williams.

How hard? According to a recent tax return Marquette must file with the Internal Revenue Service for the year ending June 30, 2010, Williams was paid $2,800,347.

Mary Pat Pfeil, a Marquette spokeswoman, confirmed the amount and said the compension paid to Williams and other top faculty and administrative employees at the school were for calendar year 2009.

[mu_hilltopper]

How does a $2.8m salary equate to your title of a "$2m bonus"?    Did you think he was being paid $800k?

[Brewtown Andy]

How does a $2.8m salary equate to your title of a "$2m bonus"?    Did you think he was being paid $800k?

That's the title of the JS article.

Also, the next line of the article is

Pfeil noted that, in Williams case, the $1,987,203 of Williams' pay was a one-time extraordinary bonus "given for retention purposes."

[GGGG]

Yes, he apparently had a salary of just over $800,000. 

But then the article drops this fact:

"Most coaches in top-flight collegiate programs have other arrangements that afford them even higher income.

In Williams' case, that would be a limited partnership called Team Buzz Williams. Williams is the partner and the registered agent for the organization.

Pfeil said it is not uncommon for coaches of major sports to have such arrangements. She said such agreements typically cover basketball camps and clinics, as well as media appearances and speaking engagements.

Pfeil said the limited partnership has no relationship to the university. "Marquette does not participate in the management of the limited partnership but makes payment to the LP for services rendered," Pfeil said."


So the question I have is, do the payments to the LP for "services rendered" go above and beyond the $2.8 million?  Or is this simply part of the overall compensation package?

[MUMac]

How does a $2.8m salary equate to your title of a "$2m bonus"?    Did you think he was being paid $800k?

I believe some of his salary is paid outside of the university.  The university may pay just $800,000 of his annual salary.

[bilsu]

I suspect his original contract had a base salary with incentives (bonus) built in. Buzz does well he gets paid well. Buzz does poorly he does not get bonus, but still has his job. Buzz does really poor and they can buy him out for the lessor amount. I suspect his new contract has a higher salary and less incentives. Less risk for Buzz and more risk for MU. Now it will cost MU a whole lot more to buy Buzz out, if he flops.

[BCHoopster]

We should all have Buzz's worries.  One year like that, makes life very easy, he never has to worry about
money the rest of his life, he can retire by 40 if he wanted to.  Coaching basketball, is that a job anyway?

[GGGG]

If you would have told me 20 years ago that I would be making what I am making now, I would have thought that I would have no worries in the world by this point...

And he will be 40 in about a year.  I don't think he could retire on even two years of $2.8 million.

[reinko]

We should all have Buzz's worries.  One year like that, makes life very easy, he never has to worry about
money the rest of his life, he can retire by 40 if he wanted to.  Coaching basketball, is that a job anyway?

Are you claiming that a HC of a Div 1 basketball program that historically is in the top 40 in the nation is easy, or hardly a job?

[BCHoopster]

Are you claiming that a HC of a Div 1 basketball program that historically is in the top 40 in the nation is easy, or hardly a job?

I am saying it is a great job, who would not want to do it.  Easy, that it is not, challenging yes.  Financially gratifying,
obviously.  After a few years at that salary, money is no issue.  Pressure financially is over, staying in the Top 40
or so will always be a struggle at MU. 

[Pakuni]

I am saying it is a great job, who would not want to do it.  Easy, that it is not, challenging yes.  Financially gratifying,
obviously.  After a few years at that salary, money is no issue.  Pressure financially is over, staying in the Top 40
or so will always be a struggle at MU. 

Given that most people tend to live up to - or beyond - their means, virtually nobody can say "money is no issue" after a couple years' salary, unless that salary is in the upper eight figures.
Shall we start a list of all the former multimillionaire athletes and entertainers who've gone belly up?

[dgies9156]

Look, it is all about performance. I give Buzz credit because we're on the way back to where we were in the 1970s. One Sweet 16 is not a career (are you listening Kevin O'Neill), but if you view it as a start, it's a great way to show you mean business.

As to paying Buzz $2.8 million, God Bless you Jesuits. We've talked about this elsewhere, but if Marquette wants to stop the annual "buzz" (no pun intended) over where its head coach will go, this is the kind of renumeration that will make the trollers for our coach go away quickly. Pay Buzz $2.8 million annually and there's few, if any programs, that can pay that and reimburse Marquette for the contract cancellation.

More importantly is the role basketball plays in the life of the university. Sure, if I'm a tenured professor in the Philosophy department, I'm irritated that the men's basketball coach makes more in a month than I did in years, but the reality is that much of Marquette is so linked with basketball that it's hard to imagine what the university would be without it. Basketball creates the visibility that causes students to look at our university, ensuring a more diverse student body. Basketball's buzz makes the fundraising that makes Campus Circle, the upgraded physical plant and the importation of grass into what used to be Concrete U possible.

Think of it this way. If Al, Hank and Rick, Kevin, TV Tommy and Buzz had not come here, what would Marquette be like today? St. Norbert? Loras? Belmont? Who knows? But we're a national university in no small part because of the resources and publicity created by the basketball program.

Go Warrorirs!

[BCHoopster]

Look, it is all about performance. I give Buzz credit because we're on the way back to where we were in the 1970s. One Sweet 16 is not a career (are you listening Kevin O'Neill), but if you view it as a start, it's a great way to show you mean business.

As to paying Buzz $2.8 million, God Bless you Jesuits. We've talked about this elsewhere, but if Marquette wants to stop the annual "buzz" (no pun intended) over where its head coach will go, this is the kind of renumeration that will make the trollers for our coach go away quickly. Pay Buzz $2.8 million annually and there's few, if any programs, that can pay that and reimburse Marquette for the contract cancellation.

More importantly is the role basketball plays in the life of the university. Sure, if I'm a tenured professor in the Philosophy department, I'm irritated that the men's basketball coach makes more in a month than I did in years, but the reality is that much of Marquette is so linked with basketball that it's hard to imagine what the university would be without it. Basketball creates the visibility that causes students to look at our university, ensuring a more diverse student body. Basketball's buzz makes the fundraising that makes Campus Circle, the upgrade physical plant and the importation of grass into what used to be Concrete U possible.

Think of it this way. If Al, Hank and Rick, Kevin, TV Tommy and Buzz had not come here, what would Marquette be like today? St. Norbert? Loras? Belmont? Who knows? But we're a national university in no small part because of the resources and publicity created by the basketball program.

Go Warrorirs!
[/quote


Agree totally, you can not pay for the PR, MU gets with the BB program.  Look how quickly the U got the money raised from alumni during
the Final 4 DWade run, they raised $31M pretty quickly.  They truly helps getting good recruits here, it surely is not the weather.

[ChicosBailBonds]

I finally got around to reading the article a few minutes ago.   Interesting comments below the article...ranging from support to non-support to everything under the sun.


http://www.jsonline.com/blogs/sports/123217978.html

[dgies9156]

Liberal professors?

Conservative professors?

George Bush et al?

What does this have to do with Buzz's contract and the university investing in basketball?

I live in Illinois. From our perspective, conservative and liberal, who cares? They're all part of an evil cabal out to screw the taxpayers, steal from the public and generally divvy up the public welfare to the benefit of those who contribute most to the status quo.

With that as a backdrop, that's why I come to MU Scoop. Buzz, the boys and MU basketball are escapes from the real world. Let's keep it that way and keep the politics out of the Al Room.

Thank you very much and GO WARRIORS

[MUMBA]

What does this have to do with Buzz's contract and the university investing in basketball?

Thanks for bringing it back to the topic.  The common ground we all share in this room is a deep affinity for MU Hoops.

[ChicosBailBonds]

MU made an investment, probably a smart one.  Hopefully he's here 10+ years.

[rocky_warrior]

Anybody logging a  political posts after this point will receive a ban.  We have simple rules here people.

[Brewtown Andy]

I finally got around to reading the article a few minutes ago.   Interesting comments below the article...ranging from support to non-support to everything under the sun.


http://www.jsonline.com/blogs/sports/123217978.html

I wouldn't read the comments on that article if you paid me a $2 million bonus.

[wyzgy]

if you read how buzz got his start, or better yet how his persistence to chase his dream to become a basketball coach, living in his beat up station wagon beating on the doors to head coaches houses to sweep the gym floors, to get in the door, for just the chance to pick up towels in locker rooms has lead him to the american dream.  i'd love to see a documentary of his life in about 25 years.  it would be an inspiration to many who thought they had given their all. his investment is coming to fruition.  he's like, hey, if you believe in me, jump on in to my beat up station wagon and we'll turn it in to a porsche.  he is living his dream....and getting paid for it.  give em hell buzz!!!!!!!

[brewcity77]

if you read how buzz got his start, or better yet how his persistence to chase his dream to become a basketball coach, living in his beat up station wagon beating on the doors to head coaches houses to sweep the gym floors, to get in the door, for just the chance to pick up towels in locker rooms has lead him to the american dream.  i'd love to see a documentary of his life in about 25 years.  it would be an inspiration to many who thought they had given their all. his investment is coming to fruition.  he's like, hey, if you believe in me, jump on in to my beat up station wagon and we'll turn it in to a porsche.  he is living his dream....and getting paid for it.  give em hell buzz!!!!!!!

It's a little surprising to me that we never saw a movie about Al's life, or more accurately, the 1977 season. Seems like perfect movie fodder. McGuire was a great character with more worthwhile quotes than Vitale, and how great a swan song is it to ride out the career as NCAA champions, beating vaunted North Carolina? Could also be a nice little recruiting tool...hmm, maybe it's time for me to start researching and writing a script 

[Skatastrophy]

MU made an investment, probably a smart one.  Hopefully he's here 10+ years.

Crean lover.

[ZiggysFryBoy]

if you read how buzz got his start, or better yet how his persistence to chase his dream to become a basketball coach, living in his beat up station wagon beating on the doors to head coaches houses to sweep the gym floors, to get in the door, for just the chance to pick up towels in locker rooms has lead him to the american dream.  i'd love to see a documentary of his life in about 25 years.  it would be an inspiration to many who thought they had given their all. his investment is coming to fruition.  he's like, hey, if you believe in me, jump on in to my beat up station wagon and we'll turn it in to a porsche.  he is living his dream....and getting paid for it.  give em hell buzz!!!!!!!

Sounds perfect for HBO Sports!

[wyzgy]

It's a little surprising to me that we never saw a movie about Al's life, or more accurately, the 1977 season. Seems like perfect movie fodder. McGuire was a great character with more worthwhile quotes than Vitale, and how great a swan song is it to ride out the career as NCAA champions, beating vaunted North Carolina? Could also be a nice little recruiting tool...hmm, maybe it's time for me to start researching and writing a script  

i think dick ebersol or one of those guys who worked with al mcguire during his years as a b-ball analyst had a play or something made about al's life.  didn't it run in new york for quite a while with good reviews?  other than that, i agree, excellant script for movie is out there somewhere. i've got a book by tom kertscher.  150 pages of pictures and quotes:  "every obnoxious fan has a wife at home who dominates him"   "the only mystery in life is why kamikaze pilots wore helmits"  on football players, "they do one arm pushups so that they can count with the other hand"  he thought like no other and one last quote for buzz to relay to his players-on gamblers who befriend college athletes-"you must teach your players that if there are creeps hanging around, there's a reason.  it's like when you bring flowertshome to your wife and say there's no reason.  there's a reason"

[leever]

Dick Enberg, not Ebersol