Darian DeVries

NorthCyd

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He is not going to leave money behind, however often contract settlements are paid back over several years.

There are professional athletes who are paid for years after their buyouts are made.

That said sounds like there is more than enough to buyout Steve and buyout the contract of a desired candidate to get him to come here.
Negotiating the length of the payout makes sense, but that's not what people on here are saying is going to happen.
 

KennyPratt42

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Many coaches contracts include a reduction in payout based on money made in subsequent coaching jobs (I haven't read through the terms in Prohms to know if his includes this). But if it does it is pretty common to negotiate a guaranteed amount which is less than what people reference about payout when that type of clause is included.

As others have said, it could also be negotiations based on the timing of payouts. Either spreading it out over a number of years or reducing the amount to have a lump sum up front (particularly if you have the above type of clause).
 
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Tornado man

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There are a lot of people who claim his wife isn't happy here and hasn't been for some time. Then you have CW saying Steve loves it here and if it were up to him he would work here his whole life and retire from ISU. So which is it? I can't see a husband saying that if mamma ain't happy.
Any "claim" that Katie Prohm isn't happy in Ames is BS - like lots of other crap made up on this board. She loves Ames.
 

bosco

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That was the speculation, considering TJ had just come back to ISU a couple months earlier (to take Abdelmassih's spot?) when everyone knew Hoiberg had one foot out the door. But I don't know that it was reported Leath demanded a search firm be used, although CBS had reported on friction over the process between Leath and Pollard.

A Google search about the subject does find comments from Leath, but probably because he was asked about it during the press conference for the Board of Regents in June so it was news. He did say JP would present him with candidates and he would interview them all alongside JP. Otz was definitely mentioned from the beginning as JP's preferred hire, though.
******* Leath. That SOB screwed over the hiring of TJ. We could be reaping the rewards of a run away freight train with the momentum we could have gotten from him at the helm. It seems like we missed the window with TJ now. And what is Leath doing now. ******* hack.
 

cycloneML

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Then that's not resigning, that's firing. Prohm has all the leverage. Not sure why he would even meet in the middle, but again maybe people are banking on him being a really nice guy. That would be really nice of him to leave half his contract behind.
Some people don’t want to be fired. It will be negotiated
 

CLONER99

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Many coaches contracts include a reduction in payout based on money made in subsequent coaching jobs (I haven't read through the terms in Prohms to know if his includes this). But if it does it is pretty common to negotiate a guaranteed amount which is less than what people reference about payout when that type of clause is included.

As others have said, it could also be negotiations based on the timing of payouts. Either spreading it out over a number of years or reducing the amount to have a lump sum up front (particularly if you have the above type of clause).


This. You negotiate a lump sum that is not eroded by future earnings. Benefits both sides and helps both move on faster.
 
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IP Guy

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It won't be Devries. He's a family man.

And as we all clearly know, Cyclone men's basketball team head coach's wives hate Ames and are the reason each coach leaves. JP will only hire bachelors from this point forth.

Or husbands of wives that love ISU and being the show in Ames. Not necessarily my vote, but . . . .
 

Sigmapolis

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The greatest buyout story in the history of sports --

After his subpar 1999 season, the Mets released Bonilla, but still owed him $5.9 million. Bonilla and his agent offered the Mets a deal: Bonilla would defer payment for a decade, and the Mets would pay him an annual paycheck of $1.19 million starting in 2011 and ending in 2035, adding up to a total payout of $29.8 million. Mets owner Fred Wilpon accepted the deal mostly because he was heavily invested with Ponzi scheme operator Bernie Madoff, and the 10% returns he thought he was getting on his investments with Madoff outweighed the 8% interest the Mets would be paying on Bonilla's initial $5.9 million. As a result, the payout was a subject of inquiry during the Madoff investment scandal investigation when it came to light in 2008.
 

Statefan10

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The greatest buyout story in the history of sports --

After his subpar 1999 season, the Mets released Bonilla, but still owed him $5.9 million. Bonilla and his agent offered the Mets a deal: Bonilla would defer payment for a decade, and the Mets would pay him an annual paycheck of $1.19 million starting in 2011 and ending in 2035, adding up to a total payout of $29.8 million. Mets owner Fred Wilpon accepted the deal mostly because he was heavily invested with Ponzi scheme operator Bernie Madoff, and the 10% returns he thought he was getting on his investments with Madoff outweighed the 8% interest the Mets would be paying on Bonilla's initial $5.9 million. As a result, the payout was a subject of inquiry during the Madoff investment scandal investigation when it came to light in 2008.
July 1st = Bobby Bonilla Day
 

Cyinthenorth

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******* Leath. That SOB screwed over the hiring of TJ. We could be reaping the rewards of a run away freight train with the momentum we could have gotten from him at the helm. It seems like we missed the window with TJ now. And what is Leath doing now. ******* hack.
Good.
 
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Sigmapolis

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******* Leath. That SOB screwed over the hiring of TJ. We could be reaping the rewards of a run away freight train with the momentum we could have gotten from him at the helm. It seems like we missed the window with TJ now. And what is Leath doing now. ******* hack.

No way to know how TJ would have worked out compared to Prohm.

And I don't think we've missed that bus yet -- he's coming to Ames if we offered.
 
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Clonestarred

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LOL!! There are a few other folks here that know what is happening. For obvious reasons it is not being shared.