Re: McDermott's Magic Extension: Last Time, I Promise
Im kinda surprised that it isnt out there if it was signed 3 years ago.
Im kinda surprised that it isnt out there if it was signed 3 years ago.
All "Gripes" with Greg McDermott
- Thread starter cyclonestate
- Start date
re: All "Gripes" with Greg McDermott
Read the actual original contract. It does NOT say that. It basically says 'for each YEAR that iowa state both doesnt make the NCAA tourney and also suffers from a loss of scholarship from something prior to GMac being hired, gmac shall receive an additional year.'
Since we took 3 scholarship hits, but all were in 06-07, it should have only been a 1 year extension.
Also, apparently someone in the AD told Paul Clark yesterday that gmac was given an extension for 3 years in April 07, so it comes direct from the dept.
Read the actual original contract. It does NOT say that. It basically says 'for each YEAR that iowa state both doesnt make the NCAA tourney and also suffers from a loss of scholarship from something prior to GMac being hired, gmac shall receive an additional year.'
Since we took 3 scholarship hits, but all were in 06-07, it should have only been a 1 year extension.
Also, apparently someone in the AD told Paul Clark yesterday that gmac was given an extension for 3 years in April 07, so it comes direct from the dept.
re: All "Gripes" with Greg McDermott
A few things......
Nobody is blaming McDermott for signing the contract so there's no need to make excuses for him. The blame for this ridiculous contract lies with JP and even his most ardent nut huggers have to admit that he screwed us over royally with the clauses that effectively turned a 6 year contract into a 9 year contract.
The D1 scheduling thing was a joke. It was an excuse that Pollard used to axe Morgan that amounted to absolutely nothing.
We were paying more than squat. There are incentives in the contract that would have pushed that gross pay up over $1 mil/year which was plenty competitive at the time. It's not our fault that McD has never come close to cashing in on any of those incentives.
A few things......
Nobody is blaming McDermott for signing the contract so there's no need to make excuses for him. The blame for this ridiculous contract lies with JP and even his most ardent nut huggers have to admit that he screwed us over royally with the clauses that effectively turned a 6 year contract into a 9 year contract.
The D1 scheduling thing was a joke. It was an excuse that Pollard used to axe Morgan that amounted to absolutely nothing.
We were paying more than squat. There are incentives in the contract that would have pushed that gross pay up over $1 mil/year which was plenty competitive at the time. It's not our fault that McD has never come close to cashing in on any of those incentives.
re: All "Gripes" with Greg McDermott
Let's see trust the interpretation of message board posters or trust the interpretation of the legal team that ISU has representing them. Hmmmm, that is a tough decision.
Let's see trust the interpretation of message board posters or trust the interpretation of the legal team that ISU has representing them. Hmmmm, that is a tough decision.
re: All "Gripes" with Greg McDermott
I know what you're saying, but it would be a whole lot easier to just trust ISU on this one had they even issued a press release when the extensions were triggered.
I know what you're saying, but it would be a whole lot easier to just trust ISU on this one had they even issued a press release when the extensions were triggered.
re: All "Gripes" with Greg McDermott
Read the contract yourself. Or the other thread we have on this. It doesnt take a lawyer to read the language, its all pretty simple.
Read the contract yourself. Or the other thread we have on this. It doesnt take a lawyer to read the language, its all pretty simple.
re: All "Gripes" with Greg McDermott
Ticks me off that the lawyers did not have clauses in the contract if you lose more than two thirds of your players and that you fail to sniff a tournament in four consecutive years that you get a rebate back for damaged goods.:biglaugh:
Ticks me off that the lawyers did not have clauses in the contract if you lose more than two thirds of your players and that you fail to sniff a tournament in four consecutive years that you get a rebate back for damaged goods.:biglaugh:
Re: Puzzled by Coach Mac
Exactly. I don't recall anybody complaining much about our Elite 8 team having nobody in the 7-8 man rotation with ties to Iowa. In a down year, maybe, but when you win you could have a starting 5 from Iraq and I wouldn't care.
Exactly. I don't recall anybody complaining much about our Elite 8 team having nobody in the 7-8 man rotation with ties to Iowa. In a down year, maybe, but when you win you could have a starting 5 from Iraq and I wouldn't care.
re: All "Gripes" with Greg McDermott
We were paying crap. Every contract has incentives so you have to go back to base salary. Guaranteed money was/is less than our competitors. If GMac was making $755K here + incentives, other colleges were offering $1 mil + incentives. Less money equals more years. Most coaches sign five year deals so it really only equated to one more year.
Like I said, understand the situation at the time. Which it looks like you don't. D1 Scheduling was a joke but at the time we were hiring, it was being investigated and no one knew what would come out of it including potential hires and the AD. It is very easy for you to say right now that D1 Scheduling was a joke but at that time you had no idea how it would turn out. No one did. don't acct like the contract was signed after the D1 investigation was complete. It wasn't
We were paying crap. Every contract has incentives so you have to go back to base salary. Guaranteed money was/is less than our competitors. If GMac was making $755K here + incentives, other colleges were offering $1 mil + incentives. Less money equals more years. Most coaches sign five year deals so it really only equated to one more year.
re: All "Gripes" with Greg McDermott
Nobody needs a 9-yr contract to rebuild a basketball program. 6 Years is plenty! A 1-yr extension would have been more than sufficient to make up for the lost scholarships, considering the fact that each scholarship was lost for only Year 1. Heck, we were giving scholarships to walk-ons in Year 2 anyway, so we didn't even utilize those scholarships the following year.
And now we are backed into a corner. Which is why a competently written contract would have given a 1-yr extension in total, rather than a yr for each individual case.
Nobody needs a 9-yr contract to rebuild a basketball program. 6 Years is plenty! A 1-yr extension would have been more than sufficient to make up for the lost scholarships, considering the fact that each scholarship was lost for only Year 1. Heck, we were giving scholarships to walk-ons in Year 2 anyway, so we didn't even utilize those scholarships the following year.
And now we are backed into a corner. Which is why a competently written contract would have given a 1-yr extension in total, rather than a yr for each individual case.
re: All "Gripes" with Greg McDermott
I have read too many legal documents and thought I understood them to know that they are never as simple as they look. That is why with my job and personal life, I always have a lawyer look them over.
Like I said "Let's see trust the interpretation of message board posters or trust the interpretation of the legal team that ISU has representing them. Hmmmm, that is a tough decision."
I have read too many legal documents and thought I understood them to know that they are never as simple as they look. That is why with my job and personal life, I always have a lawyer look them over.
Like I said "Let's see trust the interpretation of message board posters or trust the interpretation of the legal team that ISU has representing them. Hmmmm, that is a tough decision."
Re: McDermott's Magic Extension: Last Time, I Promise
If nobody has requested it, the ISU athletic department isn't just going to post it on the internets.
If nobody has requested it, the ISU athletic department isn't just going to post it on the internets.
re: All "Gripes" with Greg McDermott
So the point of emphasis is that Jamie really screwed up by shafting Morgan out of a fair chance, and compounded the problem by entering into negotiations from a weak leverage perspective.
So the point of emphasis is that Jamie really screwed up by shafting Morgan out of a fair chance, and compounded the problem by entering into negotiations from a weak leverage perspective.
re: All "Gripes" with Greg McDermott
....but this contract had no downsidefor GMcD if he screws up.
....but this contract had no downsidefor GMcD if he screws up.
re: All "Gripes" with Greg McDermott
As an attorney (and as a lay person for that matter) it looks clear from the face of the document that GMac gets one year for each YEAR we are down a scholarship and not for each scholarship.
As an attorney (and as a lay person for that matter) it looks clear from the face of the document that GMac gets one year for each YEAR we are down a scholarship and not for each scholarship.
re: All "Gripes" with Greg McDermott
I don't disagree CI but I think a big thing to take into consideration is D1 Scheduling. While we know NOW that it was a bunch of bunk, no one knew how it would turn out or what the penalties would be. Throw in that we were only three years removed from the LE crap and there was a lot of bad pub/accusations about ISU. We looked like a school filled with scandal and quick with the trigger finger
I don't disagree CI but I think a big thing to take into consideration is D1 Scheduling. While we know NOW that it was a bunch of bunk, no one knew how it would turn out or what the penalties would be. Throw in that we were only three years removed from the LE crap and there was a lot of bad pub/accusations about ISU. We looked like a school filled with scandal and quick with the trigger finger
re: All "Gripes" with Greg McDermott
Sure, the context of the contract is something to keep in mind as a justification for why JP did what he did. But in interpreting the contract, the context doesn't matter at all - only the terms of the contract, i.e. what is actually written, matters.
Sure, the context of the contract is something to keep in mind as a justification for why JP did what he did. But in interpreting the contract, the context doesn't matter at all - only the terms of the contract, i.e. what is actually written, matters.
re: All "Gripes" with Greg McDermott
I contract like that would have been justified for a bigger name. GM was nationally known as a decent coach, but was never a big name. We would never have gone after him had he not been down the street. I really don't think a 9 year contract was needed to get someone to move from Cedar Falls to Ames.
I contract like that would have been justified for a bigger name. GM was nationally known as a decent coach, but was never a big name. We would never have gone after him had he not been down the street. I really don't think a 9 year contract was needed to get someone to move from Cedar Falls to Ames.
