Tag Archives: contracts

Pitino Not on The “Hot Seat”; Gophers 2016-17 Outlook

Pitino Not On The “Hot Seat”; Gophers 2016-17 Outlook

Many preseason “coaches on the hot seat” articles list Minnesota head coach Richard Pitino and state that a poor season on the court would spell trouble for Pitino. We believe the only way Pitino would be on the hot seat is if there are continued off the court issues for the program’s student-athletes. There are a few reasons why we don’t see Pitino being on the hot seat absent off the court issues. Those reasons are listed below.

Large Buyout

Late last summer, Minnesota entered into an amendment with Pitino which effectively caused his buyout to skyrocket should he be fired without cause. If Minnesota were to terminate Pitino’s employment next March, the buyout would still be nearly $6 million.

Continue reading Pitino Not on The “Hot Seat”; Gophers 2016-17 Outlook

Sharing Options:
Facebooktwittergoogle_plusredditpinterestmail

Fact Check: Star Tribune on Kill’s Contract

Fact Check: Star Tribune on Kill’s Contract

The Star Tribune (link to their article is at the bottom of this article) recently said, “Kill is being paid an average of $2.3 million a year on his current salary and is one of the lowest-paid coaches in the country at a major program.

This isn’t even close to true. The Star Tribune’s claim is completely baseless and false.

Star Tribune: “For example, look at Iowa’s Kirk Ferentz. He signed a 10-year contract in 2010 extension that paid him approximately $4 million this season. If he were to stay on through the end of his contract in 2020, he is due an additional $21 million.

The Ferentz contract is about the most absurd single example one could come up when trying to argue that Kill is one of the lowest-paid coaches in the country at a major program.

Continue reading Fact Check: Star Tribune on Kill’s Contract

Sharing Options:
Facebooktwittergoogle_plusredditpinterestmail

Buzz’s Earnings at Marquette Peaked in 2010

Buzz’s Earnings at Marquette Peaked in 2010
May 21, 2014


BuzzVT[A]ccording to a source with direct knowledge of the deal, [Marquette] would have been paying him [Buzz Williams] in excess of $4 million within the next two seasons. That is football coach money at a school with a major commitment to being good at basketball. If all of that sounds weird, that’s because it is.” — Sports Illustrated

A week ago we walked through some specifics on the contract between Buzz Williams and Virginia Tech. The traditional media might continue to dream up a fact pattern that concludes Buzz Williams took a gigantic pay cut to get out of Milwaukee. Reality doesn’t support such a claim.

Just this month, Marquette filed their annual Form 990 for the year ended June 30, 2013. Late Night Hoops compared their reporting of Buzz Williams’ pay each year over the past several years. The trends illustrated in this article give rise to the possibility that pay might have been a source of frustration for Williams.

Continue reading Buzz’s Earnings at Marquette Peaked in 2010

Sharing Options:
Facebooktwittergoogle_plusredditpinterestmail

Buzz Williams, Virginia Tech Finalize Contract

Buzz Williams, Virginia Tech Finalize Contract
May 14, 2014

On Monday Buzz Williams and Virginia Tech entered into an employment agreement for the former Marquette head coach to run Hokie basketball. An offer letter had been provided to Williams in March, but the full deal wasn’t done until this week. Such a delay is not unusual.

Paint Touches has also reported on the contract earlier this evening and you can read their thoughts at PaintTouches.com. We recommend doing so for some of the background and additional details on the arrangement.

There are two key points based on a preliminary reading of the contract that we want to discuss in more detail. Overall, this is a very nicely done deal from a Buzz perspective. To put it in Buzz-speak, “I don’t mean this in the wrong way, but he owns Virginia Tech.”
Continue reading Buzz Williams, Virginia Tech Finalize Contract

Sharing Options:
Facebooktwittergoogle_plusredditpinterestmail

Crean’s Buyout Suggests He’s at IU for the Long-Term

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

Sharing Options:
Facebooktwittergoogle_plusredditpinterestmail

Guns Up, Cash Down: Tubby Smith Takes a Large Pay Cut at Texas Tech

April 7, 2013
Guns Up, Cash Down: Tubby Smith Takes a Large Pay Cut at Texas Tech

Tubby Smith agreed this week to become head coach of the Texas Tech men’s basketball team. He’ll start off earning $1.6 million in guaranteed compensation. That amount is scheduled to increase by $100,000 each year through the 2018-19 season.

As compared to the $1.6 million he’ll make this season in Lubbock, Smith would have been guaranteed at least $2.25 million in compensation at Minnesota (a difference of $650k or 41% more than he’ll make at Texas Tech).

Going forward the guaranteed compensation gap will close up slightly. Smith’s required annual raises under his Minnesota agreement would have been roughly half of the $100,000 he’s to receive as the leader of the Red Raiders.

Tubby shouldn’t be short on cash after the significant buyout of his contract by the University of Minnesota, but going forward his decrease in pay is substantial.

In addition to the lower guaranteed compensation, Smith’s incentive potential is far lower at Texas Tech than it was at the ‘U’. The Gophers also included some easily achievable bonuses for Tubby.

Compensation under Hypothetical Scenario for 2013-14 Season
Smith coaches team to a 4th place conference finish and NCAA tournament appearance, where his team loses in their first game. The team has an APR of 950 and graduation success rate of 50%.

Minnesota Texas Tech
Guaranteed $2.25 million $1.60 million
Incentives $0.35 million $0.08 million
  TOTAL $2.60 million $1.68 million

Using the same hypothetical scenario above for both schools, Smith would make over $900k (55%) more at Minnesota in 2013-14 than he would at Texas Tech.

Coach Smith, whose teams at Minnesota had their own troubles with APR scores, could run into academic issues at Texas Tech related mostly to seasons prior to his arrival. Beginning with the 2015-16 contract year, Smith would not receive any incentive payouts if the team is subject to a postseason ban or has been penalized otherwise with respect to poor APR performance.

Follow @LateNightHoops on Twitter.

Sharing Options:
Facebooktwittergoogle_plusredditpinterestmail

Minnesota, Tubby Smith and The Right Way

March 31, 2013
Minnesota, Tubby Smith and The Right Way

The administration at the University of Minnesota believes the men’s basketball program can and should be better. They needed to consider whether Tubby Smith gave them a decent shot at being better.

After six seasons as the Gophers’ head coach, Tubby Smith was losing his talented front line combo of Trevor Mbakwe and Rodney Williams. Smith’s teams had never been above .500 in the Big Ten and never secured a single-digit seed in the NCAA tournament.

Year seven projected to be more challenging than 2012-13. Smith was a coach with a huge contract, few results and no answers.  The Gophers’ basketball program was stuck with a low ceiling hanging over its head.

Minnesota acted the right way by terminating Smith’s employment. No matter who the next head coach is, he will give the program a chance to be better. 

The downside risk is that the team on the floor does a bit worse under a new coach than it would have under Smith. Instead of back-to-back six win seasons, maybe it’s only five wins a year. Instead of an 11-seed in the NCAA tournament, perhaps the Gophers are slotted at No. 12.

The upside potential is far greater than the downside risk. The success of the new coach is something to be judged over the next several years, not in the coming weeks. The firing of Smith is something that can be judged today and it was a wise decision.

Tubby Smith and “The Right Way”

When asking about Tubby Smith as a basketball coach the most frequent response you’ll hear is that he is a nice man. The on court performances of his teams at Minnesota were disappointing and that can’t easily be defended. The result is that Tubby supporters must rely on hypothetical nonsense or go off topic and into emotion-invoking cliches.

The fact that Smith had the men’s basketball program going nowhere fast is plenty of reason to let him go. However, a lot of people praise Smith as a great coach because of his personality or perception thereof. It’s a credit to the man that he has so many friends and fans. 

Do the cries of him being “too decent” and “doing things the right way” deserve consideration with respect to judging his shortcomings on the court?

When people say Smith (and other coaches whose teams don’t do well) does things “the right way”, they are implying that this is unique in college basketball.  Compliments are easy to hand out. However, those who praise a coach for doing things the right way as though it’s unusual will cower when asked to name some coaches that don’t do things the right way.

I think “the right way” is usually just a way to deflect attention away from relevant topics. Again, it says something about Tubby Smith that people stand up for him. He must be a truly good friend to a lot of people. That’s wonderful from a personal relationship perspective, but did he do things the right way at Minnesota?

It’s not necessary to get deep into issues that haven’t surfaced to the view of most people, but just glossing over a few well known items is enough to question “the right way” argument.

  • In the civil courts: Smith’s missteps in attempting to hire Jimmy Williams as an assistant set the tone and have cost the school substantial amounts of time, money and goodwill.
  • In the criminal courts: Multiple players brought in by Smith were guilty of multiple crimes while at the U. In addition to player issues, Smith’s own son and member of the coaching staff contributed to the crime count this fall (adding to the argument for an anti-nepotism stance going forward). 
  • Odd transfers: Players leaving a school is a normal occurrence in D1 basketball. However, the circumstances around several player departures from Minnesota have been quite unique (including Devoe Joseph [gave up a year of competition eligibility], Colton Iverson [transferred after junior season despite being required to sit out a year at Colorado State] and Royce White).
  • In the classroom: A key player became academically ineligible in the middle of a season. In addition, Minnesota’s Academic Progress Rate (APR) has been the worst in the Big Ten over the past few years. The basketball team is not of out the woods with regard to the potential of falling into postseason ban territory due to the poor academic performance of Smith’s student-athletes. 

Tubby Smith and the program under his direction didn’t perform well on the court, off the court or in the courts. Imagine if he was like most coaches and had done things the wrong way.

Follow @LateNightHoops on Twitter.

Gear up for the Basketball Season at Eastbay, check out our Basketball Equiptment!

Sharing Options:
Facebooktwittergoogle_plusredditpinterestmail