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Post by pnthr97 on Mar 20, 2006 15:45:19 GMT -6
Some of you may think I'm crazy, but I really respect Andy Katz's insight on college coaching. Driving back from Jacksonville, I heard him talk about the ISU coaching job, and that Pollard really is interested in Jeter. I don't think it's a token interview, as has been suggested, though that scenario also makes sense.
But, also coming from Katz, here's a way we could keep RJ:
"Why hasn't Winthrop's Gregg Marshall moved on to a bigger job? Because no one is calling him up to offer one. Marshall has nine years remaining on a 10-year deal. But he makes $250,000 and isn't going to just leave for any job. He's building a power in the Big South and would only leave for a legitimate job where he knows he can win."
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Post by dylanrocks on Mar 20, 2006 15:48:22 GMT -6
Ninety-seven, there's only one flaw with the premise: How does one know he can win at Iowa St, when the school has posted only 11 NCAA tournament victories after making its inaugural appearance in 1944?
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Post by Pantherholic on Mar 20, 2006 15:50:32 GMT -6
according to the article Freak posted earlier, ISU is paying $1.5 million for morgan's buyout plus $60k (total) for the departing staff. this money is being paid out of the dept.'s reserve fun of $4.5 million. add jeter's buyout before his base salary and that puts that cost to $2.46 million (assuming that jeter's buyout is taken from the reserve funds as well). is the university THAT desperate to where they'd deplete almost 55% of their reserve fund for Jeter? - another interesting note is that N. Iowa's coach is only getting paid $180k right now & would take until '08-'09 for him to make $350k. the article doesn't mention any buyout figure on his contract.
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Post by teddyp00 on Mar 20, 2006 15:52:04 GMT -6
But, also coming from Katz, here's a way we could keep RJ: "Why hasn't Winthrop's Gregg Marshall moved on to a bigger job? Because no one is calling him up to offer one. Marshall has nine years remaining on a 10-year deal. But he makes $250,000 and isn't going to just leave for any job. He's building a power in the Big South and would only leave for a legitimate job where he knows he can win."
Not sure how this would help us keep Jeter, since he makes more than this already. I am sure Jeter is smart enough to not just take a job where he knows he is going to lose. Every coach thinks they can win wherever they coach.
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Post by teddyp00 on Mar 20, 2006 15:54:02 GMT -6
That same article also said how it would not take long to build that reserve fund back up though. Its a reserve fund which is intended for situations just like this. If Jeter is their man they will pay the 900K.
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Post by brewtownbrian on Mar 20, 2006 15:56:30 GMT -6
According to the Journal Sentinel...if another school lures Jeter away in the first year of the deal, the "liquidated damage" clause calls for UWM to receive three times his current salary, or approximately $900,000.
This would be a buy-out clause that Iowa St. would have to pay UWM.
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damasa
Sophomore
KFC: Kick From Chuck. What else do you need?
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Post by damasa on Mar 20, 2006 16:01:55 GMT -6
That same article also said how it would not take long to build that reserve fund back up though. Its a reserve fund which is intended for situations just like this. If Jeter is their man they will pay the 900K. I agree. If they want him I'm sure they'll pay it but they had better put serious consideration into it. They are going to tank their reserve fund if they do. Sometimes reserve funds are built up quickly and sometimes they are not. IA State didn't make it to the post-season this year so they will not get funding for any tourney appearances and thus no extra money in reserves. Also, IA State isn't a school known for large alumni donations. I'm just thinking that if they take Jeter they are going to seriously threaten funding sources...
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Post by pnthr97 on Mar 20, 2006 16:03:03 GMT -6
My point was locking him up with a long-term, lucrative deal. If Winthrop can do it, we should be able to as well.
10 years @ $350K-400K per year, plus escalators, could be a way to keep RJ here for this, and a few more, seasons.
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Post by uwm6thman on Mar 20, 2006 16:03:35 GMT -6
Ok I shouldn't have said "mindless people" and for that I am sorry for, not trying to attack anyone.........proceed
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Post by teddyp00 on Mar 20, 2006 16:06:14 GMT -6
The length of the deal means little, it is more important to have a buyout clause and how much that is really determines keeping other schools away. I believe Pearl had a pretty long term contract with escalators, but it meant nothing in the scope of things.
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damasa
Sophomore
KFC: Kick From Chuck. What else do you need?
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Post by damasa on Mar 20, 2006 16:07:04 GMT -6
My point was locking him up with a long-term, lucrative deal. If Winthrop can do it, we should be able to as well. 10 years @ $350K-400K per year, plus escalators, could be a way to keep RJ here for this, and a few more, seasons. We could be able to do it but is Bud prepared to do something like this? I think that if we lock Jete Jete in such a contract we should also bump up his buyout clause. Make it that much harder for other schools to try and steal him away. When Tenn. came calling Bruce was gone. That school has more money than most people can imagine. I think the IA State money situation is much different.
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Post by pnthr97 on Mar 20, 2006 16:11:26 GMT -6
damasa - your point is a good one. There's no comparison to the ISU situation and TN.
Regarding buyouts, there have been deals in the past where the buyout of a long-term deal started at, say, $500K, then decreased with each year the coach stayed. If we signed RJ to a 10-year deal, with a $500K buyout that went down $100K each year he stayed, I think the deal would be fair for everyone. There would be no buyout after year 5, yet UWM would receive some compensation if he left prior to that point. With escalators/incentives/endorsements, this could become very lucrative if RJ continues his success.
Again, here's to hoping RJ isn't going anywhere!!!!
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Post by bball30 on Mar 20, 2006 16:21:43 GMT -6
I think the ISU money situation is different than you may think, a 900K dollar contract buyout is nothing to a few private donors who have been convinced Jeter is the guy that takes their program to the next level.
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Post by TBone on Mar 20, 2006 16:28:13 GMT -6
ISU has talked about being frugal, but can they get Jeter for a long-term, lower salary per year than another coach (who will likely also have at least some sort of buyout) who may want more?
I'm not sold the 900K is going to make that much of a difference.
T
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Post by milwsport on Mar 20, 2006 16:32:04 GMT -6
At first I felt confident that the buyout would protect us. However, the story is that Pollard already asked Bud about the buyout. He wouldn't be interviewing RJ if he didn't think he could hire him.
On the other hand that's a lot of money for a school to lay out for someone whose only been a head coach for 1 season. In the end, he may decide to look elsewhere rather than gamble maybe $3 million (considering salary, benefits and the buyout) that Jeter is the guy for ISU.
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