The school (read: boosters) doesn't have to come up with $10.6 million. They have to come up with ~$3-5 million dollars. The $10.6 is already planned/budgeted/accounted for. The only new money is paying the new coach, which we have no reason to be paying $2+MM for. Should be ~$1MM or so.

So if we keep him, we come up with no new money. If he's fired, we come up with the new salary during the overlap periods. Still a chunk of change, but nearly a third of the number that keeps getting thrown around.

(But they can do as they see fit. Definitely not my place to tell them how they should spend their money. Just like I'm tired of others telling me to spend my money to go watch the train wreck, lol)

(02-05-2016 08:42 AM)Tygrys Wrote:  

(02-05-2016 08:34 AM)UofMemphis Wrote:  

(02-05-2016 08:03 AM)hsvtiger Wrote:  If necessary, cancel/delay the new basketball practice facility and use part of that money to buy out CJP. We really do not NEED that right now. At least not nearly as much as we need a new leader.

That's the stupidest thing I've heard in a while...

I imagine the vast majority of the funds for the facility were restricted donations to the facility, ala the school cannot take the funds and then just decide to use them for something else...

I know, just seems like putting the cart in front of the horse.

(02-05-2016 01:28 AM)tigers311 Wrote:  

(02-05-2016 01:22 AM)450bench Wrote:  He'll be gone at the end of the year.

He needs to be gone in the morning.

I worry buying out now will kill football progress and hopes for a P5 conference along the way.

UNTIL we get a p5, it IS either a) 10 mill for a bball buyout (/or X mill for new coach) OR b) an overachieving football program on an outside-top-50 budget.

I prefer b, I think that enhances p5 chances more.

I therefore think a is irresponsible.

IF YOU HAVE 10 MILL (or 3-5) GIVE IT TO FOOTBALL OR RESEARCH TO IMPROVE TOWARDS AAU AND P5 ADMISSION.

Wait till the buyout lowers, then flush that down the bball buyout toilet.

With the rescission of charter jet travel, I trust this administration has p5 priorities.

Stay away from pawn shops and car loans, people.

(02-05-2016 09:01 AM)MemTigerFan Wrote:  The school (read: boosters) doesn't have to come up with $10.6 million. They have to come up with ~$3-5 million dollars. The $10.6 is already planned/budgeted/accounted for. The only new money is paying the new coach, which we have no reason to be paying $2+MM for. Should be ~$1MM or so.

So if we keep him, we come up with no new money. If he's fired, we come up with the new salary during the overlap periods. Still a chunk of change, but nearly a third of the number that keeps getting thrown around.

(But they can do as they see fit. Definitely not my place to tell them how they should spend their money. Just like I'm tired of others telling me to spend my money to go watch the train wreck, lol)

Is that new 3-5 mill per year? Either way, we're still paying for 2 coaches with no guarantees, as non p5 school. I just have problems doing that, I think it's fiscally iresponsible.

Is this a Wren Baker (I think that's the name, in the Ath dept, left for Mizzou) legacy? Or nah?

(02-05-2016 08:34 AM)UofMemphis Wrote:  

(02-05-2016 08:03 AM)hsvtiger Wrote:  If necessary, cancel/delay the new basketball practice facility and use part of that money to buy out CJP. We really do not NEED that right now. At least not nearly as much as we need a new leader.

That's the stupidest thing I've heard in a while...

Stupider than a 10 mill buyout for a non p5 bball coach? lol...

(02-05-2016 08:42 AM)Tygrys Wrote:  

(02-05-2016 08:34 AM)UofMemphis Wrote:  

(02-05-2016 08:03 AM)hsvtiger Wrote:  If necessary, cancel/delay the new basketball practice facility and use part of that money to buy out CJP. We really do not NEED that right now. At least not nearly as much as we need a new leader.

That's the stupidest thing I've heard in a while...

I imagine the vast majority of the funds for the facility were restricted donations to the facility, ala the school cannot take the funds and then just decide to use them for something else...

exactly.

(02-05-2016 09:18 AM)kabluey Wrote:  

(02-05-2016 09:01 AM)MemTigerFan Wrote:  The school (read: boosters) doesn't have to come up with $10.6 million. They have to come up with ~$3-5 million dollars. The $10.6 is already planned/budgeted/accounted for. The only new money is paying the new coach, which we have no reason to be paying $2+MM for. Should be ~$1MM or so.

So if we keep him, we come up with no new money. If he's fired, we come up with the new salary during the overlap periods. Still a chunk of change, but nearly a third of the number that keeps getting thrown around.

(But they can do as they see fit. Definitely not my place to tell them how they should spend their money. Just like I'm tired of others telling me to spend my money to go watch the train wreck, lol)

Is that new 3-5 mill per year? Either way, we're still paying for 2 coaches with no guarantees, as non p5 school. I just have problems doing that, I think it's fiscally iresponsible.

no, 3-5 mill total (over the 4 years of overlap)

But I'll disagree with you on the fiscal responsibility. Keeping Josh is fiscally irresponsible. I guarantee that keeping Josh these 4 additional years (or any additional years) will cause greater monetary losses for a longer period of time than would firing him would.

GP's article today mentions the buyout. It's becoming a national laughingstock

http://www.cbssports.com/collegebasketba...onnecticut

(02-05-2016 01:49 AM)tigers1125 Wrote:  

(02-05-2016 01:41 AM)muffinman Wrote:  

(02-05-2016 01:30 AM)bluecrew Wrote:  

(02-05-2016 01:28 AM)muffinman Wrote:  

(02-05-2016 01:22 AM)450bench Wrote:  He'll be gone at the end of the year.

Id like to say the same... But I just cant see the school/boosters coming up with that amount of money...

I'll ask this because it keeps getting brought up- is there some sort of acceleration clause if we fire him? If not, don't we owe him the 10 over the lifetime of the contract whether he coaches or not? If there isn't, firing him does not cost anyone anymore money than keeping him (other than whatever the new coach makes)

From what I know, which isnt much. Is that Memphis would just continue paying his contact as if he were coaching. We wouldnt owe him all $10.6M immediately.

However, you'd still by paying someone $10.6M (over 4 years) to someone that is not a employee of the school anymore, basically just to make him go away.

Technically your right, though. If JP was fired, the only additional expenses the University would have next year would by the new coach salary + whatever their buyout from the school you took them from is.

And with the right hire, you would increase revenue by $6-8 million per year. You would pay Josh $2M (negotiated) and Archie Miller $2.5M. At least $1.5M more left to subsidize football.

Where's the 6-8 coming from, and Archie? Are most activated payouts negotiated? Is the 6 the worst case scenario?

(02-05-2016 09:28 AM)MemTigerFan Wrote:  

(02-05-2016 09:18 AM)kabluey Wrote:  

(02-05-2016 09:01 AM)MemTigerFan Wrote:  The school (read: boosters) doesn't have to come up with $10.6 million. They have to come up with ~$3-5 million dollars. The $10.6 is already planned/budgeted/accounted for. The only new money is paying the new coach, which we have no reason to be paying $2+MM for. Should be ~$1MM or so.

So if we keep him, we come up with no new money. If he's fired, we come up with the new salary during the overlap periods. Still a chunk of change, but nearly a third of the number that keeps getting thrown around.

(But they can do as they see fit. Definitely not my place to tell them how they should spend their money. Just like I'm tired of others telling me to spend my money to go watch the train wreck, lol)

Is that new 3-5 mill per year? Either way, we're still paying for 2 coaches with no guarantees, as non p5 school. I just have problems doing that, I think it's fiscally iresponsible.

no, 3-5 mill total (over the 4 years of overlap)

But I'll disagree with you on the fiscal responsibility. Keeping Josh is fiscally irresponsible. I guarantee that keeping Josh these 4 additional years (or any additional years) will cause greater monetary losses for a longer period of time than would firing him would.

Im not for keeping Pastner over the life of the contract. And your clarification of your plan for the new theoretical 3-5 mill contract does mitigate the financial blow.

(02-05-2016 09:29 AM)bluecrew Wrote:  GP's article today mentions the buyout. It's becoming a national laughingstock

http://www.cbssports.com/collegebasketba...onnecticut

Which was worse? This buyout or St Louis's dome deal with the Rams?



I know, they both suck...

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.

Why can we not just continue to pay his yearly contract to not coach? If he want to coach somewhere else, he can void the contract. Otherwise he will just draw a paycheck from us for the next 5 years and stay at home. I would think he would prefer to coach someplace else for less than stay at home.

Don't forget, if we get a good coach, there will probably be a buy out on that side of things, too.

I'd like to see the possibilities of giving a short contract or interim to Stoudemire.

(02-05-2016 09:56 AM)tiger ron Wrote:  Why can we not just continue to pay his yearly contract to not coach? If he want to coach somewhere else, he can void the contract. Otherwise he will just draw a paycheck from us for the next 5 years and stay at home. I would think he would prefer to coach someplace else for less than stay at home.

If we pay him his salary not to coach, then we're locked in to 2.6 mill. per year over the next 4 years.

If we fire him, he has a breach of contract claim against us. At that point, if he wants to pursue his claim, his duty to mitigate kicks in and he must go look for another job. Him getting another job does not void his contract unless he does so willingly before we fire him, which is unlikely (but not impossible).

(02-05-2016 10:00 AM)Nashville Tiger Wrote:  Don't forget, if we get a good coach, there will probably be a buy out on that side of things, too.

I'd like to see the possibilities of giving a short contract or interim to Stoudemire.

An interesting idea, but too risky for my blood. Stoudamire is an unknown as an HC (as was Pastner). I'd hope we go to a mid-major school and hire away their coach. Someone proven, like Steve Forbes (who had a great coaching stint at a FL JuCo), Matt McCall or Brad Underwood. We could get them for about a mill, and it would let us balance the budget during the Pastner payout.

(02-05-2016 10:00 AM)Nashville Tiger Wrote:  Don't forget, if we get a good coach, there will probably be a buy out on that side of things, too.

I'd like to see the possibilities of giving a short contract or interim to Stoudemire.

No way.

(02-05-2016 09:56 AM)tiger ron Wrote:  Why can we not just continue to pay his yearly contract to not coach? If he want to coach somewhere else, he can void the contract. Otherwise he will just draw a paycheck from us for the next 5 years and stay at home. I would think he would prefer to coach someplace else for less than stay at home.

I like it. Make him the highest paid video production assistant in history and hire a new coach. He will essentially be forced to leave on his own if he wants to coach. Otherwise, he could hang around collecting a check and never be heard from again. Of course, this wouldn't look too good for the university (it's petty), but desperate times...

(02-05-2016 10:04 AM)T-County Tiger Wrote:  

(02-05-2016 09:56 AM)tiger ron Wrote:  Why can we not just continue to pay his yearly contract to not coach? If he want to coach somewhere else, he can void the contract. Otherwise he will just draw a paycheck from us for the next 5 years and stay at home. I would think he would prefer to coach someplace else for less than stay at home.

I like it. Make him the highest paid video production assistant in history and hire a new coach. He will essentially be forced to leave on his own if he wants to coach. Otherwise, he could hang around collecting a check and never be heard from again. Of course, this wouldn't look too good for the university (it's petty), but desperate times...

Because his contract says it is for duties as the head coach at Memphis. This idea was brought up before.