Additional Insight on Tom Crean and His Contract With Indiana
“It reminded me a lot of the political theater I used to be part of”
— Indiana Athletic Director Fred Glass on announcing Crean’s extension to a packed Assembly Hall
The media is again struggling to get the specifics of the buyout provisions correct, so we’ll step in. In this article we’ll also discuss a few other angles of interest related to this topic.
What is the amount of Tom Crean’s buyout?
His buyout depends on the timing of termination. If he were to be terminated at the end of this month (March 2015), the buyout would be a minimum of $11.1MM and could be as high as $12.0MM.
From now through June 30, 2015, the buyout is the lesser of $12MM and the remaining “outside, marketing and promotion income” payable under his contract. $11.1MM represents the buyout total if there have been no annual merit increases. However, such merit increases are allowable under the employment agreement and just a 5% increase would push the buyout figure as of the end of this month to $11.6M.
On July 1 of this year the buyout drops to $7.5MM.
Today the White House released 2016 budget documents for the United States Government. Included within those documents was at least one measure that may have college sports fans on opposite sides of the political spectrum agreeing with each other.
Currently, seat donation fees and similar “required donations” to universities as a prerequisite to buying tickets to sporting events are generally 80% deductible as deemed charitable contributions.
President Obama’s budget would eliminate this, as he puts it, “loophole.”
We’d guess the uproar over this may become significant and – all things considered and without delving deep into politics – we think it’s likely that Obama will not get his way on this one. But he could.
Jerry Kill: Winning Helps Everything? September 18, 2013
Minnesota Gopher football head coach Jerry Kill and his ongoing battles with epilepsy have been heavily documented. Nonetheless, there are many missing pieces to the story that probably won’t ever be addressed. We hope that all the answers Kill needs to help him remain healthy will be found, but they might never be.
A look back at some of Coach Kill’s publicly known seizures indicate that winning may be some of the best treatment he could receive. Is there reason to believe that elevated levels of stress are a trigger for some of Kill’s significant seizure episodes? That’s a matter of educated opinion. Continue reading Jerry Kill: Winning Helps Everything?→
Big Ten’s Top 25 Players for 2013-14; Austin Hollins Snubbed September 17, 2013
We’re not big fans of “top X lists” because they usually lack substance and are little more than conversation starters.
However, Inside the Hall (Indiana basketball focus) and UM Hoops (Michigan) recently published a list of the “Top 25 Big Ten Players for 2013-14” that offered commentary on each player. Both websites produce excellent original content and are highly recommended reads for fans of college basketball.
August 9, 2013 Crean’s Buyout Suggests He’s at IU for the Long-Term
Indiana’s buyout cost to early terminate their head men’s basketball coach dropped last month from $16 million to $14 million
Oftentimes the end date of a coaching contract has little meaning. This is due to termination provisions and the frequency of amendments and restatements. However, if Tom Crean tells a recruit, “I’m staying with Indiana for the long haul and vice versa”, his employment agreement with the school would appear to support his words. Continue reading Crean’s Buyout Suggests He’s at IU for the Long-Term→
July 21, 2013 Minnesota: Point Guard and Practice Facility Package Deal?
2016 Wolfgang Novogratz of The City (NY) travel team is a 6’2” point guard who has some early interest from the Gophers. He’s a vocal leader on the court despite playing with and against older, more experienced players. See his LNH player page for more information.
With his excellent passing skills and evolving overall game, Novogratz is a name for Minnesota fans to keep an eye on. We’ll update his player page with thoughts on his play in the future, but the remainder of this article will focus on a unique back story.
July 10, 2013 Minnesota’s Facilities Plan Set Up for Failure
This afternoon at a University of Minnesota Board of Regents meeting, athletic director Norwood Teague discussed “Phase One” of his department’s master facilities plan.
If the goals Mr. Teague stated are accomplished, he should be praised and his compensation should be tripled. However, it’s not realistic to believe they will be.
An increasingly pressing need is a basketball practice facility. The smart move, in our opinion, would be to push for the allocation of current revenue streams (i.e., media contracts) to fund a practice facility project. This course of action may prove to be inevitable, but at a minimum a long delay in getting construction started due to an insistence that money be fully privately funded will continue to adversely affect the program.
On the one hand, we applaud Teague’s willingness to be bold in reaching for the sky. Unfortunately it just seems his goals are teetering on the edge of when consideration of a mental health hold is warranted. Continue reading Minnesota’s Facilities Plan Set Up for Failure→