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Fiasco in Manhattan

Discussion in 'Colorado Football Message Board' started by Duff Man, May 20, 2009.

  1. Duff Man

    Duff Man Moderator Club Member Junta Member

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  2. Sexton Hardcastle

    Sexton Hardcastle Club Member Club Member

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    I think Bill Snyder is a good coach, but I really don't see how he's going to work his way out of this.
     
  3. Coloradosker

    Coloradosker Active Member

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    Ron Prince is such a scumbag. He was a snake oil salesman from day one. KSU could've done so much better and not set back their program several decades.
     
  4. buff4bcs1985

    buff4bcs1985 Hail to the King

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    honestly no they couldnt... have you ever been to Manhattan KS... there is nothing to recruit to it was **** before synder the first time and they will be **** pretty quick this time or shortly after he leaves
     
  5. Duff Man

    Duff Man Moderator Club Member Junta Member

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    When Gary Patterson turned down the job before Snyder was hired, that probably should have given them the hint that the job is just not that attractive. I do agree that the program is ****ed.

    I love it.:thumbsup:
     
  6. chipwich

    chipwich Administrator Club Member Junta Member

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    [​IMG]
    .........................................[​IMG]
     
  7. unbiasedtruth

    unbiasedtruth Well-Known Member

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    fwiw..... gary patterson would turn more than the just the KSU job to stay at TCU......:thumbsup:
     
  8. sliderNcider

    sliderNcider MacLovin Club Member

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    Meh they don't have to make payments until 2015-2020...Snyder will be dead by then
     
  9. Duff Man

    Duff Man Moderator Club Member Junta Member

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    I know, but he was realistically the biggest name KSU could land. When he fell through, the writing was on the wall.
     
  10. Mick Ronson

    Mick Ronson Well-Known Member

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    Patterson would have been a great hire for them. pipeline to the "B" players in Texas with all the JUCO wizardry. TCU was one of the most athletic teams i saw last year. they were freakish on D. QB play was spotty and shot with injury, but those guys on D could play.

    Snyder times 2: seems like a farce. even the most loyal HCBS/EMAW guy can't be liking this.
     
  11. unbiasedtruth

    unbiasedtruth Well-Known Member

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    agreed. Patterson always wins with defense it seems. If he can ever get the offensive side of the ball clicking like the defensive side, look out. Its fun going to a TCU home game in Ft. Worth if LB and I cant maje it to a Big XII matchup.
     
  12. BIGREDIOWAN

    BIGREDIOWAN Well-Known Member

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    I love it, I ****ing hate KSUcks with an absolute passion! :thumbsup:
     
  13. BornRed

    BornRed Member

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    I could tolerate KSU when Grandpa was there the first time but after Ron Prince took over.....I really despise them and still do.
     
  14. Coloradosker

    Coloradosker Active Member

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    What I meant was they could've done better when Snyder retired the first time. KSU was what? 1-2 years off a big XII title? Their program wasn't in disarray yet and was still known as a decent place. Remember, Snyder was against hiring prince in the first place. He obviously knew he wasn't the guy for the job and they did it anyway...sounds pretty familiar to me.
     
  15. leftybuff

    leftybuff Iconoclast Club Member

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    KjSU is circling the drain. They will be battling ISU to stay out of the cellar for years to come.
     
  16. Buffarino

    Buffarino Math - how does it work? Club Member

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    They deserve everything they get. **** KjSU.
     
  17. sackman

    sackman Club Member Club Member

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    Not knowing all the specifics, this was defined as "deferred" compensation. Which means that whoever it gets paid to is earning it currently, and the University is holding it in trust, where it should earn interest or capital gains, and then be paid out at a future date. It's not that big of a deal. It's a pay me now or pay me later kind of thing and wouldn't cost the University one cent more than they were already obligated to pay.


    Much ado about nothing if you ask me.
     
  18. SINKRATZ

    SINKRATZ Club Member Club Member

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    Uh, paying a guy a couple million 10 years after he was fired, based an an agreement the President of the University didn't know about sounds like a big deal to me. I doubt Prince was making minimum wage while he was there knowing he had "deferred salary" coming years from now.

    This smells of an AD falling on his sword so the University can weasel out of a bad deal they regret signing.
     
  19. Buffarino

    Buffarino Math - how does it work? Club Member

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    All depends on whether the AD had the authority to sign the contract, IMO. If he did, the school will likely have to pay.

    Anyone know who signed Prince's original contract?
     
  20. leftybuff

    leftybuff Iconoclast Club Member

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    You have to wonder if there wasn't more to it, like RP threatening to sue for racial discrimination, breach of contract etc.
     
  21. leftybuff

    leftybuff Iconoclast Club Member

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    Ron Prince?:smile2:
     
  22. buffedup

    buffedup Cooler than a Popsicle Stand. Club Member

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    The University fired him not long after he signed a new contract so they definitely owe him, and the numbers I'm seeing for the payout are pretty inline with what he would probably be owed. I just think KjSU is trying to weasel out of the contract because it is expensive. Whether he deserved it or not, I'm glad we never had this fiasco with Barnett's payout.
     
  23. BlackNGold

    BlackNGold Club Member Club Member

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  24. SINKRATZ

    SINKRATZ Club Member Club Member

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    You're right, they probably do owe him, just like Al Davis probably does owe Shanahan and Kiffin from their deals, but that won't stop the guy who has to sign the check from trying everything he can to get out of it.

    I can just see some accounts payable person down at the bursar's office 10 years from now cutting a $400,000 check to Ron Prince thinking..."Who the hell is Ron Prince?"
     
  25. sackman

    sackman Club Member Club Member

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    Again, it's DEFERRED compensation. Meaning that he's owed the money and has agreed to defer receiving it until a later date in order to take advantage of investment opportunities. It doesn't matter whether the school pays him now or in 20 years, it still owes him the money. In fact, they probabaly already paid him, but the funds are in some investment vehicle somewhere.

    I'm making a lot of assumptions based on what I know of deferred compensation plans, and this might be a completely different situation. But from my own experience, what is being detailed here is no big deal. The big deal is that it was apparently done without the approval of the appropriate university authorities. The amount of the payments should not be in question.
     
  26. SINKRATZ

    SINKRATZ Club Member Club Member

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    I understand what deferred means, but thank you for the explanation. I don't doubt that they owe him the money, all I'm saying is that if I'm a university president and I have to write a big fat check to some joker who got fired years ago because of a contract I never approved...I'm pissed and it would be a pretty damn big deal to me.

    Even Tharp never pulled a stunt like this.
     
  27. sackman

    sackman Club Member Club Member

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    I have no doubt that it will cause some people to grumble under their breath when the time comes to write the check. But I suspect (again, I have no independent knowledge of the agreement) that the check has already been written, and that the funds are in an investment vehicle somewhere (Mutual fund, municpal bonds, money market account, whatever). Prince didn't want to pay taxes on the full amount of his compensation, so he agreed to defer it out several years.

    And for all we know, Tharp did pull a stunt like this. Although I would suspect that he, being a lawyer, would have had the sense to clear it through appropriate channels first.
     
  28. Hugegroove

    Hugegroove Club Member Club Member

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    Hmmmm. Just as I suspected, nothing on their web site about it.
     
  29. rodrigo

    rodrigo Well-Known Member

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  30. sackman

    sackman Club Member Club Member

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    Yeah, because Sports Illustrated has such a great reputation for accurately representing every story it reports, right? :rolleyes:


    That story didn't mention the words "deferred compensation".

    Now if this is something more than that, then it's a big deal. BUT, if the compensation was all part of his original contract, and Prince simply wanted to defer some of it to a later date for tax purposes and established this other company to receive it, it really isn't a big deal. That's the part that isn't being reported. Is this money that was part of his contract or is it additional funds? If it's additional funds, I'd be pissed too.
     

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