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Post by gman2 on Jan 9, 2013 21:11:25 GMT -6
From the contract: "Promote University's men's basketball program..." FAIL, FAIL, FAIL This contract is an abomination. Well, hold on. Does this language give the University an out? I mean, clearly this coach has not held this end of the bargain up. Contract only gives the University an out if Jeter violates certain terms of the contract. The following is a link to the contract that was amended after the NCAA Tournament appearance. Scroll to the bottom and click on the link to get the PDF version. usatoday30.usatoday.com/sports/graphics/basketball_contracts/flash.htmUnless someone posts proof of a new contract, this is the last example we have. |
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Post by illwauk on Jan 9, 2013 21:56:06 GMT -6
So... we hire a hooker to seduce him and have someone take pictures?
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Post by hippy on Jan 10, 2013 6:51:06 GMT -6
Yes, right after we bring a few high school ballers to his house for a cookout?
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Post by uwm97 on Jan 10, 2013 7:54:31 GMT -6
Who advised the university on this contract? Fran?
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Post by PantherLou on Jan 10, 2013 9:10:23 GMT -6
Contract only gives the University an out if Jeter violates certain terms of the contract. The following is a link to the contract that was amended after the NCAA Tournament appearance. Scroll to the bottom and click on the link to get the PDF version. usatoday30.usatoday.com/sports/graphics/basketball_contracts/flash.htmUnless someone posts proof of a new contract, this is the last example we have. I am looking at a copy of it right now and would be glad to upload it here if possible. The newest amended contract , referred to by the original poster has a term of April 11, 2005 through June 30, 2017. Base salary is listed at $452,129.70 annually, paid in monthly installments. If the university terminates the contract without cause, we are on the hook for the balance of the contract. Meaning, if Jeter were to be fired on March 30th of this year, he would be owed $1,921,555.20. Good news is that it does not have to be paid as a lump sum. The university can continue to pay it monthly over the remainder of the term!  The contract your link refers to has a term of 4/11/05-6/30/13. Somewhere along the way, this contract was extended by 4 years. It appears as though this happened at the end of October this year, but I don't think that's the case. I think there was another amendment to the agreement between 2006 and 2012 that extended the term. |
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Post by ghostofdylan on Jan 10, 2013 10:34:29 GMT -6
"Life is too short to waste on you."
-- signed Ben Cantwell
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Post by gman2 on Jan 10, 2013 11:07:00 GMT -6
Contract only gives the University an out if Jeter violates certain terms of the contract. The following is a link to the contract that was amended after the NCAA Tournament appearance. Scroll to the bottom and click on the link to get the PDF version. usatoday30.usatoday.com/sports/graphics/basketball_contracts/flash.htmUnless someone posts proof of a new contract, this is the last example we have. I am looking at a copy of it right now and would be glad to upload it here if possible. The newest amended contract , referred to by the original poster has a term of April 11, 2005 through June 30, 2017. Base salary is listed at $452,129.70 annually, paid in monthly installments. If the university terminates the contract without cause, we are on the hook for the balance of the contract. Meaning, if Jeter were to be fired on March 30th of this year, he would be owed $1,921,555.20. Good news is that it does not have to be paid as a lump sum. The university can continue to pay it monthly over the remainder of the term! The contract your link refers to has a term of 4/11/05-6/30/13. Somewhere along the way, this contract was extended by 4 years. It appears as though this happened at the end of October this year, but I don't think that's the case. I think there was another amendment to the agreement between 2006 and 2012 that extended the term. Jeter did not get a three year or four year extension all at once, what we have is the fourth extension of his contract. Bud extended the contract each of his last three years as AD. |
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Post by kingsteve on Jan 10, 2013 11:12:23 GMT -6
Here is what is so frustrating. The length of the contract and extensions. Yes, the salary is quite high especially for results achieved . We can second guess providing an extensions awhile back but could be justified in some quarters. I am just shocked though that we have signed him through 2017!!!!!! Could see if results were better but for mediocre if not awful record this is fiscally negligent IMO. You know, we have this big structural deficit and some say lets not make coach the whipping boy. Well, he certainly has contributed to this structural deficit by both the waning nature of the program , lost opportunity costs but certainly a $450,000 salary locked in year after year!! While not totally responsible for aforementioned structural deficit certainly a major contributor to it and NOT a victim of it!!!!!!!!
You know, as depressing as this is I could almost take it if at least we were playing at the Cell and had a good not diminished game experience. Again, decline of mens basketball (hardly any buzz anymore or coverage in JS), is major reason back at the KC with our tail between our legs. The financial cliff here while not totally due to Jeter certainly there has been HORRIBLE management of the Athletic Dept...how much money did we have to fork over to payoff idiots like Koonce and Costello as well as not have the sufficient oversight to keep Haidet in check at the end before he gave away the farm to Jeter. Hard to ante up money next year or beyond for season tickets or other support with only KC and Jeter to look forward to until 2018!!! Rob will be paid almost $2 million more regardless...so based on projected length of contract we will have paid him about $6 million over theyears plus perks for what?? Lost opportunity costs and going back to the KC...yeah, he is a whipping boy...right....major contributor to the whole fiasco but hold the Athletic Directors mostly to blame as well as the UWM administation. On a side note can not believe Lovell allowed this. (move back to KC). and in my opinion Geiger has lost his fastball, more money down the drain for him contributing a move back to KC...IMO Geiger crapped the bed and sooner the old codger is gone the better. Stuck with Jeter though...
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Post by kingsteve on Jan 10, 2013 11:41:51 GMT -6
Additonal comment on Haidet.... one thing giving an extension after the first year when apparently there was some outside interest and flight risk after the NCAA appearance albeit with none of his recruits....If Bud gave Rob extensions regularly after the three lousy subsequent seaons as well as the salary increase it is mind boggling......welcome structural deficit...man, Jeter must have had pictures on him or he was senile at the time
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Post by freshmilwaukee on Jan 10, 2013 12:42:24 GMT -6
My understanding of our AD situation was they were all on one year contracts not multi-year deals like Rob. Salary has been around $150,000 or so. I believe Costello was in a situation where they had cause for him to leave, so I can't anticipate a major buyout there.
Overall I can't believe there have been extensions provided to this contract. There has been little success to earn an extension. This is a shame for any AD that comes in after Geiger. We all know this will handcuff the athletic department for a long time to come. Embarrassing.
I can't see an extension being signed by Geiger in October 2012. If I'm in Geiger's shoes I know I'm not going to be here beyond the end of the 2013 season, I wouldn't sign an extension for a coach who still has substantial time left on his deal. I would be putting the AD that follows me in a difficult situation.
Similar to a GM that gets stuck with an overpaid, under-performing washed up star player. Getting stuck with a contract that is unreasonable and will restrict what the GM can do for a team.
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Post by ghostofdylan on Jan 10, 2013 12:49:06 GMT -6
The extensions granted after the 2006-07 and 07-08 seasons positively boggle the mind.
I would love to ask Bud what he saw after those two abominations that warranted a rollover.
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dutchpthr
Junior
ain't much if it ain't dutch
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Post by dutchpthr on Jan 10, 2013 14:33:12 GMT -6
How is this something so many are shocked by? This is info we have know for awhile, as there are numerous locations on this board where people have stated that the contract ran thru 2016 at least based off of the extensions that Bud had given out to coaches after their "positive year end reviews". This was the same situation with Sandy i believe and that was part of the reason why no one let her go after the decline the women's teams were having she had a contract that was too large and would have cost too much to be fired, which would be my guess as why she stayed on but in a different role with the university, my guess is that there was a re-purposing of her talents shall we say.
We were all aware that Bud gave Jeter extensions after the first few years and those were auto generated after the season, and tacked on the back end, and when he left the contract extension rollovers were put on hold by the university due to the massive debt the department was/is in.
I'm sorry but this has always been my gripe with giving Bud so much praise, he did bring us to Division 1 but he also handicapped us big time in more then one area and if you go back and look at the reason why we are in the financial issues we are in a lot of the reason point to him, so while he did do some good things and those are great he is not the saint that some like to make him out to be and honestly i do not think he should have a court or hall of fame named after him here at UWM.
Now all of the Bud fans can yell at me and tell me how wrong I am but i ask you if he is such the gem you all claim he is then why are we as a department millions of dollars in debt and stuck with an under performing lead program that we are supposed to route for?
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Post by kingsteve on Jan 10, 2013 15:12:00 GMT -6
So he could possibly be "re-assigned" as a way out?? Could that be at a lower salary? Way of forcing him out??? Frankly, if I am Jeter not only four more years of this hurting the program but his career won't be worth a darn...maybe best for both if he could get out now but.....I think he would make a great head assistant for Bo or someone else which is really the pre Peter principle level...
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Post by apaladino on Jan 10, 2013 15:18:22 GMT -6
Question.....Am I correct in stating that once a new AD is hired, that Geiger will stay on? If so, how can we afford both, yet can't find a way to get rid of Jeter?
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dutchpthr
Junior
ain't much if it ain't dutch
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Post by dutchpthr on Jan 10, 2013 15:21:33 GMT -6
So he could possibly be "re-assigned" as a way out?? Could that be at a lower salary? Way of forcing him out??? Frankly, if I am Jeter not only four more years of this hurting the program but his career won't be worth a darn...maybe best for both if he could get out now but.....I think he would make a great head assistant for Bo or someone else which is really the pre Peter principle level... I was just assuming with the situation with Sandy, i have no basis for it other then my own opinion so i honestly don't know if that is true or if it is even a possibility, but i can't see how it would be an option for Rob at all. Sandy is in the alumni relations area now if i remember correctly but i don't see any way that type of situation happens with there being almost $2 million that is owed to Rob. But i have to agree i don't see how this year helps him out any in the eyes of other programs for furthering his career, i doubt we will be seeing the news reports of him being interviewed for decent job opening like we have in the past, doesn't typically happen to coaches who win less then 10 games (and for now I am being nice with that total) |
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