So, what is the cost to buy Pastner out after this season?

(10-09-2015 08:36 PM)roundhouse74 Wrote:  So, what is the cost to buy Pastner out after this season?

Approximately $5.3M

In his current contract, Pastner is paid $2.65 annually. That contract also has two automatic one-year renewals that kick in after the 2017-18 season. If the school decides to part ways before the renewal date, they would owe him the balance of the contract sans the renewal...which, in response to your question, would be two years.

Of course the problem with all of this is you have a coach that technically doesn't have a 4-year contract in place, which many believe is a detriment to recruiting. [insert recruiting joke here]. I think the pressure will be on the administration after this season to either sign him to a firm 4-year contract or part ways.

What a colossal mistake it was to give him such a large extension especially in light of the fact he hadn't and still hasn't done anything to merit it.

We have football and basketball boosters


Just sayin

(10-10-2015 07:56 AM)RCM1029 Wrote:  

(10-09-2015 08:36 PM)roundhouse74 Wrote:  So, what is the cost to buy Pastner out after this season?

Approximately $5.3M

In his current contract, Pastner is paid $2.65 annually. That contract also has two automatic one-year renewals that kick in after the 2017-18 season. If the school decides to part ways before the renewal date, they would owe him the balance of the contract sans the renewal...which, in response to your question, would be two years.

Of course the problem with all of this is you have a coach that technically doesn't have a 4-year contract in place, which many believe is a detriment to recruiting. [insert recruiting joke here]. I think the pressure will be on the administration after this season to either sign him to a firm 4-year contract or part ways.

You must have read the same CA article I did, because that's the way Kyle Veazy made the details of Pastner's 2013 contract extension sound.

Here's his quote from that account: "Pastner's contract is in effect for the next five seasons, through 2017-18. Automatic renewals are included after each of the next two seasons, meaning the deal is structured to extend through 2019-20."

Most people would read "the next two seasons" in that context as referring to the next two seasons after 2017-18, but according to the contract, the automatic extensions occurred in April 2014 and April 2015 -- the next two seasons after the current one when he wrote the article. Apparently, Mr. Veazy, without warning, jumped back to the present time frame before describing the automatic renewals.

Josh has had a five-year contract for the last three Aprils, with the 2013 deal and the two automatic extensions that were part of it. He's on the books till 2020.

(10-10-2015 11:24 AM)MTigerBlue Wrote:  

(10-10-2015 07:56 AM)RCM1029 Wrote:  

(10-09-2015 08:36 PM)roundhouse74 Wrote:  So, what is the cost to buy Pastner out after this season?

Approximately $5.3M

In his current contract, Pastner is paid $2.65 annually. That contract also has two automatic one-year renewals that kick in after the 2017-18 season. If the school decides to part ways before the renewal date, they would owe him the balance of the contract sans the renewal...which, in response to your question, would be two years.

Of course the problem with all of this is you have a coach that technically doesn't have a 4-year contract in place, which many believe is a detriment to recruiting. [insert recruiting joke here]. I think the pressure will be on the administration after this season to either sign him to a firm 4-year contract or part ways.

You must have read the same CA article I did, because that's the way Kyle Veazy made the details of Pastner's 2013 contract extension sound.

Here's his quote from that account: "Pastner's contract is in effect for the next five seasons, through 2017-18. Automatic renewals are included after each of the next two seasons, meaning the deal is structured to extend through 2019-20."

Most people would read "the next two seasons" in that context as referring to the next two seasons after 2017-18, but according to the contract, the automatic extensions occurred in April 2014 and April 2015 -- the next two seasons after the current one when he wrote the article. Apparently, Mr. Veazy, without warning, jumped back to the present time frame before describing the automatic renewals.

Josh has had a five-year contract for the last three Aprils, with the 2013 deal and the two automatic extensions that were part of it. He's on the books till 2020.

Yeah, I wasn't sure of the date when the renewals kicked in, although I was pretty sure it wasn't in 2017 or 2018. Didn't know they had both already kicked in. As such, Memphis is on the hook for roughly $10+M if they choose to part ways with Pastner...unless a buyout is negotiated.

The point I'm trying to make is that we're on the hook for that REGARDLESS of whether we keep him or not. That shouldn't be part of the decision going forward because you can't change it. The only reason it would be is if you had to pay it in one lump sum.

If you can improve the bball program enough to increase the revenue stream more than you take away from it by employing, in effect, a second paid head coach for the same time period (can Josh, hire a replacement), you should do it. Nothing, including firing Josh and hiring another coach, can change the fact that we owe him the $10M unless Josh forgoes it for some reason.

the school is not on the hook for the entire contract amount. the boosters are footing the majority of the bill.

(10-10-2015 04:03 PM)OneShiningMoment Wrote:  the school is not on the hook for the entire contract amount. the boosters are footing the majority of the bill.

Kind of a matter of semantics.

(10-10-2015 04:07 PM)RCM1029 Wrote:  

(10-10-2015 04:03 PM)OneShiningMoment Wrote:  the school is not on the hook for the entire contract amount. the boosters are footing the majority of the bill.

Kind of a matter of semantics.

these boosters know what they can or cannot afford to do not the fans

(10-10-2015 04:10 PM)OneShiningMoment Wrote:  

(10-10-2015 04:07 PM)RCM1029 Wrote:  

(10-10-2015 04:03 PM)OneShiningMoment Wrote:  the school is not on the hook for the entire contract amount. the boosters are footing the majority of the bill.

Kind of a matter of semantics.

these boosters know what they can or cannot afford to do not the fans

The question asked wasn't about what anyone could afford.

(10-10-2015 04:10 PM)OneShiningMoment Wrote:  

(10-10-2015 04:07 PM)RCM1029 Wrote:  

(10-10-2015 04:03 PM)OneShiningMoment Wrote:  the school is not on the hook for the entire contract amount. the boosters are footing the majority of the bill.

Kind of a matter of semantics.

these boosters know what they can or cannot afford to do not the fans

Yeah, they knew they could afford to pay a top ten DI salary to Pastner because they're the ones who negotiated the contract according to Bowen. And I didn't say anything about the school owing Pastner $10M. The school pays next to nothing, comparatively, in that $2.65M per year.

(10-10-2015 05:57 PM)MTigerBlue Wrote:  

(10-10-2015 04:10 PM)OneShiningMoment Wrote:  

(10-10-2015 04:07 PM)RCM1029 Wrote:  

(10-10-2015 04:03 PM)OneShiningMoment Wrote:  the school is not on the hook for the entire contract amount. the boosters are footing the majority of the bill.

Kind of a matter of semantics.

these boosters know what they can or cannot afford to do not the fans

Yeah, they knew they could afford to pay a top ten DI salary to Pastner because they're the ones who negotiated the contract according to Bowen. And I didn't say anything about the school owing Pastner $10M. The school pays next to nothing, comparatively, in that $2.65M per year.

and if these boosters feel they could afford to support both they will.

Memphis is a stepping stone football program

Used to be a destination basketball program but not so sure what we have anymore.

(10-10-2015 07:33 PM)TruthBomb Wrote:  Memphis is a stepping stone football program

Used to be a destination basketball program but not so sure what we have anymore.

Well, our best coaches didn't seem to think we were much of a "destination" basketball program. We lost Bartow to Illinois and Cal to UK. Actually, IMO, our best coach was Kirk, but I guess we lost him to jail. I really like where the football program is and I'd sure hate to throw a ton of (other donors') money away on getting rid of a basketball coach when we might need to hit them up for keeping (or hiring) needs for fb.

(10-10-2015 10:11 PM)roundhouse74 Wrote:  

(10-10-2015 07:33 PM)TruthBomb Wrote:  Memphis is a stepping stone football program

Used to be a destination basketball program but not so sure what we have anymore.

Well, our best coaches didn't seem to think we were much of a "destination" basketball program. We lost Bartow to Illinois and Cal to UK. Actually, IMO, our best coach was Kirk, but I guess we lost him to jail. I really like where the football program is and I'd sure hate to throw a ton of (other donors') money away on getting rid of a basketball coach when we might need to hit them up for keeping (or hiring) needs for fb.

If we lose Fuente and still have Pastner, all our aspirations are dead.