Less than half what Tubbs was gonna get.


https://www.commercialappeal.com/story/s...451022002/

That's a slight bump from what East was paying him.

(03-22-2018 06:03 PM)BIGDTiger Wrote:  Less than half what Tubbs was gonna get.


https://www.commercialappeal.com/story/s...451022002/

Showed how much he wanted the job. Took less money while UM paying off Orlando.

Very fair contract for someone with zero NCAA coaching experience (minus the two days he has been in the role)...I’m sure there are many incentives in the contract to help negate the price difference, and the contract is long enough where it shows the school is investing in him (to lessen the negative recruiting angle). If he turns out to be the next Cal, there are easy opportunities to extend and increase the salary. In the slim chance he is Josh Pastner 2.0 (slim but still needs to be considered), the school won’t have a Tubby-like buyout (where he is still making more than Penny this season)

1.5 Penny + 1.5 to pay off Orlando=3 mil Tubby was making. Add the increase in tickets sales = U of M win!

This was about what I expected, though I did think he would get four years. Lots of incentives I'm sure. Probably better for Penny that it is a three year contract.

(03-22-2018 06:36 PM)ncrdbl1 Wrote:  

(03-22-2018 06:03 PM)BIGDTiger Wrote:  Less than half what Tubbs was gonna get.


https://www.commercialappeal.com/story/s...451022002/

Showed how much he wanted the job. Took less money while UM paying off Orlando.

Lol...1.5 Million is a great deal for Penny coming in with no experience at all.

(03-22-2018 08:37 PM)macgar32 Wrote:  

(03-22-2018 06:36 PM)ncrdbl1 Wrote:  

(03-22-2018 06:03 PM)BIGDTiger Wrote:  Less than half what Tubbs was gonna get.


https://www.commercialappeal.com/story/s...451022002/

Showed how much he wanted the job. Took less money while UM paying off Orlando.

Lol...1.5 Million is a great deal for Penny coming in with no experience at all.

Penny needs $1.5 million like Soros needs a $20 bill. He's already wealthy....he ain't doing it for the money...he's passionate for the school and city. Larry Finch 2.0 .

It's all our beloved UofM can afford but we should all recognize and appreciate Mr. Hardaway's altruism.

He is a true tiger.

Penny's net worth is $50+ million. He obviously doesn't need the money. His first contract is more than Pastner's but less than Smith's. Interesting that he only signed a 3-year deal. Almost every single new coach we get signs an initial 4-year deal. Looks like the university is hedging their bet.

(03-22-2018 06:44 PM)TigerFan40 Wrote:  Very fair contract for someone with zero NCAA coaching experience (minus the two days he has been in the role)...I’m sure there are many incentives in the contract to help negate the price difference, and the contract is long enough where it shows the school is investing in him (to lessen the negative recruiting angle). If he turns out to be the next Cal, there are easy opportunities to extend and increase the salary. In the slim chance he is Josh Pastner 2.0 (slim but still needs to be considered), the school won’t have a Tubby-like buyout (where he is still making more than Penny this season)

Slim ... I like your optimism. Every coaching hire is a risk. Penny is a bigger risk than most. Not saying it's not the right move, but it's still a big risk.

This is actually a pretty good deal for Penny. $1.5M for a first-time head coach is great money. He will likely be making more than Sampson at Houston.

(03-22-2018 06:44 PM)TigerFan40 Wrote:  Very fair contract for someone with zero NCAA coaching experience (minus the two days he has been in the role)...I’m sure there are many incentives in the contract to help negate the price difference, and the contract is long enough where it shows the school is investing in him (to lessen the negative recruiting angle). If he turns out to be the next Cal, there are easy opportunities to extend and increase the salary. In the slim chance he is Josh Pastner 2.0 (slim but still needs to be considered), the school won’t have a Tubby-like buyout (where he is still making more than Penny this season)

^^^100%^^^. I thought $1.5M was the absolute ceiling and could have been $1 - $1.2M in year one based on experience. If Penny does what we think he is going to do, the $$$ will come over time.

(03-23-2018 06:52 AM)TOGC Wrote:  Penny's net worth is $50+ million. He obviously doesn't need the money. His first contract is more than Pastner's but less than Smith's. Interesting that he only signed a 3-year deal. Almost every single new coach we get signs an initial 4-year deal. Looks like the university is hedging their bet.

I don't think that's it. There was nothing about this process that showed any reluctance on the part of the U or boosters. I think this has more to do with the buyout(s) outstanding.

(03-22-2018 08:37 PM)macgar32 Wrote:  

(03-22-2018 06:36 PM)ncrdbl1 Wrote:  

(03-22-2018 06:03 PM)BIGDTiger Wrote:  Less than half what Tubbs was gonna get.


https://www.commercialappeal.com/story/s...451022002/

Showed how much he wanted the job. Took less money while UM paying off Orlando.

Lol...1.5 Million is a great deal for Penny coming in with no experience at all.

welp...Penny is not doing it for the money.

We can all agree on that.

For now, for the first three years. Paying Penny 1.5M / year and paying off Tubby 1.5M / year is no more out of pocket annually than keeping Tubby on at around 3M per........

(03-23-2018 07:09 AM)NigelTufnel Wrote:  Slim ... I like your optimism. Every coaching hire is a risk. Penny is a bigger risk than most. Not saying it's not the right move, but it's still a big risk.

perhaps, but it's the closest thing to a sure thing that we could ask for.

He has been so impressive. He loves the school and sees this a a mission...his sincerity is what strikes me.

He's where he wants to be, doing what he wants to do, with the city's support. He's a winner. We couldn't hope for a better situation.

(03-23-2018 08:24 PM)mphsfan Wrote:  

(03-23-2018 07:09 AM)NigelTufnel Wrote:  Slim ... I like your optimism. Every coaching hire is a risk. Penny is a bigger risk than most. Not saying it's not the right move, but it's still a big risk.

perhaps, but it's the closest thing to a sure thing that we could ask for.

He has been so impressive. He loves the school and sees this a a mission...his sincerity is what strikes me.

He's where he wants to be, doing what he wants to do, with the city's support. He's a winner. We couldn't hope for a better situation.

He already has done more than Tubby did in 2 years. We got ourselves a winner.

Penny is a high reward/low risk. He was/is bound to get quality players which is a result of his unique relationship that he has built with top players around the country and not only those players in Memphis.

He acknowledged that Nike is excited because he’s the first signature athlete to be a head coach ever! Think about that, Memphis fans has the advantage of someone that no single college basketball program in this country can claim, a coach who has a current brand! Can you imagine the publicity and Sports media chatter when the whole team one day coming up will all be wearing Penny shoes, the coaches own signature shoes? Can you imagine the following that we will get from some casual college basketball fans to none sports-watching people who all are into brands? Add top players and start winning games and Memphis tiger basketball will be a national following. Lil Penny too


Bet on it