A lot of these issues make it more reasonable that a buyout will be negotiated and he will be gone. Like others have said, I think it will be a lump sum no where near $10 million.

Negotiate a settlement where he gets a dollar a year for the next 10.6 million years.

(02-05-2016 01:30 PM)450bench Wrote:  A lot of these issues make it more reasonable that a buyout will be negotiated and he will be gone. Like others have said, I think it will be a lump sum no where near $10 million.

What issues would make it not merely reasonable but likely that the buyout wont be 10 mill, and how much lower can we expect it to be?

Maybe someone can research this, but what is the range, median, etc for buyouts pre vs post negotiation? Around 90%? 50%? 75%?

(02-05-2016 01:40 PM)HoopDreams Wrote:  Negotiate a settlement where he gets a dollar a year for the next 10.6 million years.

There is NOTHING in the contract that says that couldn't be done. That's why I keep harping on the fact that a negotiated number will be worked out.

(02-05-2016 01:43 PM)450bench Wrote:  

(02-05-2016 01:40 PM)HoopDreams Wrote:  Negotiate a settlement where he gets a dollar a year for the next 10.6 million years.

There is NOTHING in the contract that says that couldn't be done. That's why I keep harping on the fact that a negotiated number will be worked out.

The contract is just that - a contract - with terms ending in 2020. If he is to be fired, he is to be paid MONTHLY his full salary until the contract ends in 2020. You could renegotiate the terms of the contract but BOTH parties have to agree. You can't just arbitrarily renegotiate the contract based upon the whims of one party.

I do think there is a chance that he will accept a renegotiation and buyout of the existing contract along with some type of soft language and PR like "Memphis and Pastner have parted ways."

A week ago I wasn't so sure and he still holds most of the cards.

Well here's a question... When the UofM extended JP's contract, did that UofM have to have that money for the full worth of the contract at that point? Or can they base his salary off of estimated donations from the boosters?

What I mean is, lets say Bowen does fire JP. Does this make Laurie, Martin, etc. angry enough that they pull a good amount of their yearly donations to the school as a punishment to the Athletic department? So now the school has to find more boosters to not only pay a new coach's salary, but also to fulfill the terms of JPs bloated contract.

(02-05-2016 02:04 PM)muffinman Wrote:  Well here's a question... When the UofM extended JP's contract, did that UofM have to have that money for the full worth of the contract at that point? Or can they base his salary off of estimated donations from the boosters?

What I mean is, lets say Bowen does fire JP. Does this make Laurie, Martin, etc. angry enough that they pull a good amount of their yearly donations to the school as a punishment to the Athletic department? So now the school has to find more boosters to not only pay a new coach's salary, but also to fulfill the terms of JPs bloated contract.

They likely have some agreement with the university where they donate that $ and it is to be used only for that purpose. You don't get to have that kind of $ without having something in place that guarantees you get your tax benefit out of those types of transactions and that your $ is being used for your intended purposes.

I don't think "parted ways" will be of any value to Pastner. When a University suffers a huge financial loss to get rid of a coach everyone knows he was not only let go but really FIRED! I certainly believe you can negotiate a front end payment at a lesser amount just like any other contract, but you are talking probably only a 10% reduction in money owed. I am confident the money will be found but it will not be easy or painless.

(02-05-2016 01:30 PM)450bench Wrote:  A lot of these issues make it more reasonable that a buyout will be negotiated and he will be gone. Like others have said, I think it will be a lump sum no where near $10 million.

Why? His agent alone would not want to reduce the number. Josh is wealthy and wont need to sacrifice money to get a big payout now. $220,000 a month for the 48 months and likely working somewhere else at the same time sounds great to me.

But I guess there is nothing wrong with talk and offers. Either way Josh is in the drivers seat.

(02-05-2016 01:43 PM)450bench Wrote:  

(02-05-2016 01:40 PM)HoopDreams Wrote:  Negotiate a settlement where he gets a dollar a year for the next 10.6 million years.

There is NOTHING in the contract that says that couldn't be done. That's why I keep harping on the fact that a negotiated number will be worked out.

Yeah, except for the part where it is annual compensation and all.

(02-05-2016 01:20 AM)muffinman Wrote:  As everyone knows, JP will get $10.6M if he gets canned this year. After some research, that will mean that JP will receive the second largest "buyout" of any college coach in any sport.

The only guy to receive more money to go away? Charlie Weiss, who was paid a estimated $18.6M by Notre Dame to go away. Who's currently in second place? Bo Pellini who was paid $8M to leave Nebraska.

I say this to say, that he is not going anywhere. Not at least for another year.


Even though endowments aren't a good measure for athletic departments. They are decent indicator in donations that a school receives. Which possibly could be extrapolated to the amount of money a athletic depart receive in donation.

Endowments:
Notre Dame - $10billion
Nebraska - $1.6billion
Memphis - $218million

Simply put, we just dont have the money to make him go away. The big boosters either dont care about basketball, or will support Josh until his contract expires.

(02-05-2016 02:12 PM)Tigerx3 Wrote:  

(02-05-2016 01:30 PM)450bench Wrote:  A lot of these issues make it more reasonable that a buyout will be negotiated and he will be gone. Like others have said, I think it will be a lump sum no where near $10 million.

Why? His agent alone would not want to reduce the number. Josh is wealthy and wont need to sacrifice money to get a big payout now. $220,000 a month for the 48 months and likely working somewhere else at the same time sounds great to me.

But I guess there is nothing wrong with talk and offers. Either way Josh is in the drivers seat.

He doesn't have an agent.

(02-05-2016 02:19 PM)roundhouse74 Wrote:  

(02-05-2016 01:43 PM)450bench Wrote:  

(02-05-2016 01:40 PM)HoopDreams Wrote:  Negotiate a settlement where he gets a dollar a year for the next 10.6 million years.

There is NOTHING in the contract that says that couldn't be done. That's why I keep harping on the fact that a negotiated number will be worked out.

Yeah, except for the part where it is annual compensation and all.

Disagree all you want and that's fine but they'll negotiate a buyout and be done.

(02-05-2016 11:09 AM)MemphisCanes Wrote:  

(02-05-2016 10:26 AM)tiger2000 Wrote:  

(02-05-2016 09:43 AM)MemphisCanes Wrote:  My guess is that the school and coach negotiate a "lump sum" payment perhaps in order to send Pastner on his way. I think that only about 5 million of the remaining contract is collectible, if a Court were to rule on it.

Either that, or the school helps leverage Pastner into a new coaching gig elsewhere. The contract principal of mitigation would mean that the school could credit Pastner's new salary against what the school owes him. I.e. Pastner gets a lesser gig making $800k a year at lesser school; Memphis gets to credit the $800 per year against the $2.6 mil per year that we owe him, and only pay him $1.8 mil.

Can you expound on the "5MM collectible" part?

As far as I can tell, since this is not technically a buyout, Pastner has the duty to go out and find another job if he is fired (i.e. he must mitigate his damages).

Just spitballing, but I'm guessing it's reasonable for him to find another job making $800,000 per year in coaching. That means instead of the 2.6 mill. we owe him, we may only owe him 1.8 mill. 1.8 mill. over 4 years is 7.2 mill.

That's a bit off from the 5 mill that I mentioned earlier, but if Pastner is able to find another HC gig at $1,000,000 per year, then you can see how this cuts that amount down even farther.

It all depends on what a "reasonable salary" is for Pastner going forward.

So he could take a job for a dollar a year and have us pay the rest? Oy vey....

Ole Joshua p. Pastner has us by the short and curlies.

(02-05-2016 02:32 PM)TigerSeth Wrote:  

(02-05-2016 11:09 AM)MemphisCanes Wrote:  

(02-05-2016 10:26 AM)tiger2000 Wrote:  

(02-05-2016 09:43 AM)MemphisCanes Wrote:  My guess is that the school and coach negotiate a "lump sum" payment perhaps in order to send Pastner on his way. I think that only about 5 million of the remaining contract is collectible, if a Court were to rule on it.

Either that, or the school helps leverage Pastner into a new coaching gig elsewhere. The contract principal of mitigation would mean that the school could credit Pastner's new salary against what the school owes him. I.e. Pastner gets a lesser gig making $800k a year at lesser school; Memphis gets to credit the $800 per year against the $2.6 mil per year that we owe him, and only pay him $1.8 mil.

Can you expound on the "5MM collectible" part?

As far as I can tell, since this is not technically a buyout, Pastner has the duty to go out and find another job if he is fired (i.e. he must mitigate his damages).

Just spitballing, but I'm guessing it's reasonable for him to find another job making $800,000 per year in coaching. That means instead of the 2.6 mill. we owe him, we may only owe him 1.8 mill. 1.8 mill. over 4 years is 7.2 mill.

That's a bit off from the 5 mill that I mentioned earlier, but if Pastner is able to find another HC gig at $1,000,000 per year, then you can see how this cuts that amount down even farther.

It all depends on what a "reasonable salary" is for Pastner going forward.

So he could take a job for a dollar a year and have us pay the rest? Oy vey....

He could but that wouldn't satisfy his duty to mitigate, if it does indeed apply.

The money is huge -- don't get me wrong -- but I believe the money is secondary to the coverup attempt. If Pastner stays, he gets paid whatever and moves on. If he is fired and there is a negotiation and a settlement (which will probably still be the biggest buyout in basketball history), if you think the story dies there, you don't know the meaning of the term "investigative journalism." The person/persons who negotiated that contract will be outed at some point, and they will be the butt of every social media spoof and every late night talk show monologue and included in every joke book published for years to come. Nobody but nobody wants to have that happen to them.

(02-05-2016 02:57 PM)MTigerBlue Wrote:  The money is huge -- don't get me wrong -- but I believe the money is secondary to the coverup attempt. If Pastner stays, he gets paid whatever and moves on. If he is fired and there is a negotiation and a settlement (which will probably still be the biggest buyout in basketball history), if you think the story dies there, you don't know the meaning of the term "investigative journalism." The person/persons who negotiated that contract will be outed at some point, and they will be the butt of every social media spoof and every late night talk show monologue and included in every joke book published for years to come. Nobody but nobody wants to have that happen to them.

I don't think our BB program is big enough any more to be used publicly.
We've kinda fallen below the level of ridicule, sad to say.

(02-05-2016 02:30 PM)450bench Wrote:  

(02-05-2016 02:19 PM)roundhouse74 Wrote:  

(02-05-2016 01:43 PM)450bench Wrote:  

(02-05-2016 01:40 PM)HoopDreams Wrote:  Negotiate a settlement where he gets a dollar a year for the next 10.6 million years.

There is NOTHING in the contract that says that couldn't be done. That's why I keep harping on the fact that a negotiated number will be worked out.

Yeah, except for the part where it is annual compensation and all.

Disagree all you want and that's fine but they'll negotiate a buyout and be done.

Well, you've stopped putting the "imo" in your posts on this, so I assume you either know somebody with a lot of money, or you're starting the Gofundme page.

If you were Pastner, had millions in the bank, and knew you could leave today for a few million more, would you stick around for all the public humiliation on TV, in the city, pressure from every direction for a couple/few million more ? You'd start thinking ... "Can I take this for another year ? It will get worse because I won't be able to recruit. The place will be empty. The media scrutiny. The impact on my health and family in public. If I'm going to leave, I should just do it now and take what I can get. It was a good run."