Where do we realistically come up with the money to fire hawkins, 2.5 million we would owe him, and have enough left over to bring in a top fight coach. As much as I want to see it happen I honestly think the athletic department is flat broke, and with the economy in the shape it's in whatever minor boosters we have probably do not have the extra money to buy him out. We are stuck between a rock and a very hard place.
I think his buy out is around 500,000............I could be wrong
If it is truly 500K or 850K it will be viable to raise, 3 million is another world.
"Don't argue with an idiot, he'll drag you down to his level and beat you with experience."
If Mike Bohn actually signed an extension for a HC that hadn't had a winning season which upped the buyout to close to $3 million... then we need to fire Bohn first. I wouldn't trust him to negotiate the next contract.
Only Irish coffee provides in a single glass all four essential food groups: alcohol, caffeine, sugar and fat. - Alex Levine
His first contract stated that CU could terminate the contract without cause and Hawkins could claim damages of $850,000 per contract year remaining, and...
Hawkins can terminate his contract by paying $1 million in 2006 or 2007, $750,000 in 2008 and $500,000 in 2009 or 2010 - sums that "were specifically and extensively negotiated between the parties."
Not sure what the "extension" did to change any of those terms, I heard Hawkins could buy it out for $1 million.
If the school's buyout is really $2.5 million or so, then maybe getting Hawkins to buy himself out would be more affordable.
Unfortunately, we have to get used to Hackins. He's going to be here the remainder of the season at the very least. IMO. Probably longer.
I cannot imagine that Hawk gave up anything with the extension - so at a minimum, it would cost 850k (the guaranteed comp for 2010) to get rid of him.
My best guess is that the new extension either extended the terms or upped the guaranteed comp. So termination without cause by the University would cost anywhere between $2.5m and $3.5m.
If my guess is correct, I cannot believe that Bohn and the Regents would do this after what they experienced with Barnett. Hawk had little leverage at the time of the extension. It makes no sense that they would throw another $2m to him.
My understanding is that when an AD negotiates a contract with a coach that has a losing record and is considered on the hot seat... that part of that negotiation is always a reduction in the buyout. If Bohn failed in that regard, I'm speechless. What would have been the reason to give him the extension otherwise?
Hawk will not be fired this season. If we lose more next year, yes, he is gone. A lot of people are pissed right now though, so who knows, maybe donors do put up the money if this season continues to suck.
My guess above is just that - a guess. It seems to me that the likeliest scenario is the one that I outlined above. But without a copy of the extension, it is nothing more than a guess.
correct me if i am wrong here but, didnt the AD get a loan from the school for several million a few years ago? i believe that loan has been paid back.
i think three things can be done here. round up as much money from doners as you can for the buy out. sell the naming rights to folsom field (Folsom Field at ________ Stadium) as we know this is coming and use that money to add to the buy out fund. the AD gets a loan from the school for the remainder.
as posted above, the program is between a rock and a hard spot. however, IMO, if nothing is done, it will only get worse on the money side. barring a miracle, this is a 2 or 3 win team, maybe.
what i believe is going to happen, next year if DH is kept there will be a big drop in season ticket holders. in this economy, its going to be tough for many STH's to justify that kind of money for the product that is being put on the field. that will just put the AD further behind the 8-ball.
the money just will not be there to ink a hire that we would all like to see such as a Heater.
then the AD is in the position of rolling the dice on a lesser, unproven coach and hoping he can build the program a la Mac.
its not a good situation to take those steps such as the loan and the naming rights but, it may have to be done to keep the bottom from falling out in terms of fan support financially.