I guess I don't understand the knee-jerk reaction of some of the GMac supporters that say "ISU is broke" or "We simply cannot afford a buyout". It is not a simplistic, black/white dynamic.
While the contract may require something along the lines of 5 yrs x $500,000 = $2.5 million, these types of situations usually are resolved through negotiation. ISU does have leverage in this matter. If GMac wants to coach again (a fair assumption), he and his agent cannot afford to get into an acrimonious, lame duck situation with ISU by insisting on the full buyout or staying on through the full term.
JP starts at $1.0 million. Agent says no, full $2.5 million. There is a lot of room for a win-win situation that basically sets up GMac and his family for life while he still has a lot of coaching years in him. It isn't that hard to imagine that something like $1.5 - $1.75 million couldn't be structured with $1.0 million paid first year, and the remainder paid in year 2. However, if GMac finds another position by year 2, the second payment is waived or pro-rated based on his average compensation over the life of his new contract.
We could get off with a $1.0 million or slightly more. If I had a nickel for every post that stated "GMac is a great guy", we would already be half way there. There is little incentive for this great guy to try and rob ISU for the bogus 3 year extension buyout value when ISU has set his family up financially for life and he can move on himself.
Now, $1.0 million+ ain't chump change. But ISU has raised over $700 million towards its $800 million goal in this current campaign, plus MBB itself just received a multi-million $$ practice facility. The economy is very tough right now, but there is still financial support for ISU available in the donor/booster community. Who knows who might step up and help out? It's not like the $20+ million we need to start the stadium bowl.
As far as salary, Greg is scheduled to make $850/$900k next year? ISU was paying LE over $1.0 million nearly ten years ago, so any argument that we cannot afford $900k/$1.0 million isn't supported by history or current facts. I think there would be a number of qualified candidates at that pay range.
At some point in time, we have to ask whether we can afford not to make a change. That was the basic driver behind JP's decision on DMac. It certainly wasn't that he was not a great guy or didn't represent ISU well. JP made the call that continuing would be more "costly" than change. He made that call before, and he should consider that decision again at the end of this year if the season continues to swirl the drain. Some fans are already at that point now, others are waiting the season out before their determination, others are still firmly behind GMac. All opinions are fair. No different than opinions on Dan that also ranged from end to end.
Anyway, it is funny to me that people throw out the economic argument as if they have dinner with JP and know the intimate details of what the cost/benefit is or what some donors might be willing to do. They don't.
Sometimes we have to realize that a journey begins with a first step. IF JP makes the call, we may be one year closer to competitive MBB.
While the contract may require something along the lines of 5 yrs x $500,000 = $2.5 million, these types of situations usually are resolved through negotiation. ISU does have leverage in this matter. If GMac wants to coach again (a fair assumption), he and his agent cannot afford to get into an acrimonious, lame duck situation with ISU by insisting on the full buyout or staying on through the full term.
JP starts at $1.0 million. Agent says no, full $2.5 million. There is a lot of room for a win-win situation that basically sets up GMac and his family for life while he still has a lot of coaching years in him. It isn't that hard to imagine that something like $1.5 - $1.75 million couldn't be structured with $1.0 million paid first year, and the remainder paid in year 2. However, if GMac finds another position by year 2, the second payment is waived or pro-rated based on his average compensation over the life of his new contract.
We could get off with a $1.0 million or slightly more. If I had a nickel for every post that stated "GMac is a great guy", we would already be half way there. There is little incentive for this great guy to try and rob ISU for the bogus 3 year extension buyout value when ISU has set his family up financially for life and he can move on himself.
Now, $1.0 million+ ain't chump change. But ISU has raised over $700 million towards its $800 million goal in this current campaign, plus MBB itself just received a multi-million $$ practice facility. The economy is very tough right now, but there is still financial support for ISU available in the donor/booster community. Who knows who might step up and help out? It's not like the $20+ million we need to start the stadium bowl.
As far as salary, Greg is scheduled to make $850/$900k next year? ISU was paying LE over $1.0 million nearly ten years ago, so any argument that we cannot afford $900k/$1.0 million isn't supported by history or current facts. I think there would be a number of qualified candidates at that pay range.
At some point in time, we have to ask whether we can afford not to make a change. That was the basic driver behind JP's decision on DMac. It certainly wasn't that he was not a great guy or didn't represent ISU well. JP made the call that continuing would be more "costly" than change. He made that call before, and he should consider that decision again at the end of this year if the season continues to swirl the drain. Some fans are already at that point now, others are waiting the season out before their determination, others are still firmly behind GMac. All opinions are fair. No different than opinions on Dan that also ranged from end to end.
Anyway, it is funny to me that people throw out the economic argument as if they have dinner with JP and know the intimate details of what the cost/benefit is or what some donors might be willing to do. They don't.
Sometimes we have to realize that a journey begins with a first step. IF JP makes the call, we may be one year closer to competitive MBB.
