Well Tech decided to buy out Hewitt's $8.5 million contract. GT is looking for a big time hire to build excitement for their new arena that is expected to open by the 2012-13 season.

8.5 million, Ouch!

Yea, like a 8.5 Million contract is not BIG TIME?

(03-13-2011 11:58 AM)insideualr Wrote:  8.5 million, Ouch!

I'm not sure if they will pay it all at once or over 6 years. His contract allowed for annual payments or lump sum. Either way it is alot of money, but obviously Tech supporters had enough and have put up the money to fire Hewitt and bring in another coach.

Must be nice to be able to fire and pay off a coach who's taken you to the final four. But his last four years, as I recollect, haven't been very good. Many programs are not satisfied to be mediocre. When they're paying you millions, mediocre doesn't cut it.

(03-13-2011 03:36 PM)outsideualr Wrote:  Must be nice to be able to fire and pay off a coach who's taken you to the final four. But his last four years, as I recollect, haven't been very good. Many programs are not satisfied to be mediocre. When they're paying you millions, mediocre doesn't cut it.

I was wrong, his buyout is only for $7.2 million which is for 5 instead of 6 years. His rollover doesn't kick in until April, which obviously he didnt' make it to that point. According to the local news, he had 4 losing seasons out of the last 6. And he only had 1 out of 11 years of being over .500 in conference. So he wasn't even mediocre in ACC play. Also, attendance was wayyyy down. The AJC did some analysis which indicated Tech was losing about $2 million or so in seat donations and season ticket sales. So I guess if you go by opportunity cost, they will cover his buyout if they get the right coach to get those missed sales going again.