jimbo fisher out at AnM

[candycorn]

Fisher’s salary would be paid with tax dollars if he hadnt been fired

Ridiculous to pay a coach $7.5 M. According to WinterBorn, they netted $55M.

But he was terminated early and the buyout is coming from private donations

Ahh.... Must be some bizarre clause in the contract somewhere. Do you have a link to this? I used to work public sector...when a director of my department got canned, it was a big todo about how much of her contract we were going to "eat".

 

[Mac-7]

Ridiculous to pay a coach $7.5 M. According to @WinterBorn, they netted $55M.

I dont know what WinterBorn said, but I already pointed out that Fisher was overpaid

And since the Aggies never seem to learn from their mistakes they will probably overpay the next coach also

Big time college football makes money for the school so even the high salary of football coaches can be defended

But not to the extent that A&M does it

 

[lantern2814]

And the university does educate people. And the tax money is used for the students.

But what the boosters donate to, as long as it is legal, is none of our business.

Usually, if boosters give money, it’s for a specific thing (in this case to buy out the contract). If they say this money being given goes to the library, that’s where it has to go. Same for if it’s for field renovations, weight room, and there are plenty of donors contributing to classroom activities too. A&M has a lot of rich alumni and boosters. Tax money doesn’t enter into any coach’s contract buyouts, as you stated.

 

[candycorn]

This from The Athletic:

Inside the numbers on Jimbo Fisher's eye-popping $77.6 million buyout

Fisher's buyout became a popular punchline, but one important detail is often overlooked: A&M won’t have to fork it over all at once.

theathletic.com

"Fisher’s contract explains the buyout’s payment schedule as follows:

“University shall pay twenty five percent (25%) of such amount in a lump sum within (60) days of the effective date of termination of the Agreement, and the remaining balance shall be paid to Coach in equal annual payments beginning one hundred twenty (120) days after the effective date of the termination of this agreement and continuing through the original end date of this Agreement, December 31, 2031.”

Here’s a breakdown of what the payment structure will be like for the rest of Fisher’s contract, which runs through Dec. 31, 2031:

Total buyout: $77,562,500
Lump sum (25%) owed (within 60 days): $19,390,625
Eight payments, starting no later than March 11, 2024 and continuing annually through 2031: $7,271,484

And for those who think Texas A&M’s boosters are footing the bill, think again. Program sources have told The Athletic multiple times in the past year that if Fisher were fired, donors wouldn’t be the ones paying the buyout. Bjork confirmed as much on Sunday."

===

The "boosters" (they are never named of course) could make a USMB account and log on and tell you guys that they're not going to pay Jimbo's buyout....you all still wouldn't believe them. Why? Nobody knows. It would cause a short-circuit, I'm afraid, in some to come to grips with the fact that there is far too much money being spent on these games and it is 100% about ego.

Hey, remember that great win 2 years ago when the team beat the other guys in the last minute of the game? No? Thats good. Neither does anyone else. That goes for the players in the game too. They (fans, coaches, players) remember there was a game. There was a season. There was a night when they were part of the action. The extreme few truly memorable moments are great but they're not worth the outsized investment being made. Universities should educate students. A good part of that education is the experience of the university. It is, in part, school spirit, athletic achievements, and the development of traditions and pride that go along with it. But by any yardstick, the money that is being spent on these games has far surpassed (and passed it quite a while ago) any return on investment that could be expected.

 

[candycorn]

The AD at A&M also confirms that boosters are not footing the bill for the buy out:

Texas A&M Athletic Director Ross Bjork talks firing Jimbo Fisher and eating the $76M he's guaranteed

Bjork’s tenure in College Station, and the Aggies’ future, hinges on the decisions he'll make for TAMU's football program in the next few weeks.

www.wfaa.com

 

[candycorn]

The report in the post above states that with the buy-out money; they could fully fund the expenditures of running four cities in Texas for the entire year.

Just with the buy out money.