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Fiasco in Manhattan

Coloradosker said:
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.
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Snyder is too Coloradosker. Kept El Robertson on the team for a bowl game after he got into some trouble, lost the bowl game, and a week later kicked him off the team. Remember when he scored that useless touchdown against Nebraska when there was just a few seconds left. Bo chased Snyder off the field at the end of the game. Snyder looked like a dog with his tail between his legs. Bo was screaming in his ear the whole way.
 
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sackman said:
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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Sacky, I think it's been pretty clear from all the reports that this wasn't Ron Prince asking KSU to defer some compensation and pay him later. It was the AD doing a secret deal that would pay him ONLY if he was fired. KSU hasn't paid it out immediately, and apparently haven't funded anything yet as they are claiming they won't fund anything.

The real motive here is going to be very, very interesting and I think it involves major donor(s) that were VERY against Prince continuing and very against paying him off to leave....
 
buffaholic said:
Sacky, I think it's been pretty clear from all the reports that this wasn't Ron Prince asking KSU to defer some compensation and pay him later. It was the AD doing a secret deal that would pay him ONLY if he was fired. KSU hasn't paid it out immediately, and apparently haven't funded anything yet as they are claiming they won't fund anything.

The real motive here is going to be very, very interesting and I think it involves major donor(s) that were VERY against Prince continuing and very against paying him off to leave....
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If that's the case, then they shouldn't have referred to this as deferred compensation. It's more of a buyout. I agree that the more that is coming out about the story, the less it's looking like deferred compensation, although that was the term originally used to describe the agreement.

It may have simply been a brain fart on the part of the reporter who originally wrote the story in calling it a deferred compensation agreement. Or, more likely than not, the moron didn't know what a deferred compensaton plan is, and threw the phrase out there in the hopes it would make him look smarter. In fact, that's looking more and more likely as we hear more and more of the story.
 
sackman said:
If that's the case, then they shouldn't have referred to this as deferred compensation. It's more of a buyout. I agree that the more that is coming out about the story, the less it's looking like deferred compensation, although that was the term originally used to describe the agreement.

It may have simply been a brain fart on the part of the reporter who originally wrote the story in calling it a deferred compensation agreement. Or, more likely than not, the moron didn't know what a deferred compensaton plan is, and threw the phrase out there in the hopes it would make him look smarter. In fact, that's looking more and more likely as we hear more and more of the story.
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It's possible that this WAS labeled a "deferred compensation" agreement so it wouldn't raise any eyebrows internally at KSU. You're not going to label an agreement "Shady, secret, under the table golden parachute" because that would raise some red flags.
 
Really? I worked with a guy once who wanted to hide some files on the network, so he put them in a folder he called SECRET. :smile2:
 
77buff said:
Snyder is too Coloradosker. Kept El Robertson on the team for a bowl game after he got into some trouble, lost the bowl game, and a week later kicked him off the team. Remember when he scored that useless touchdown against Nebraska when there was just a few seconds left. Bo chased Snyder off the field at the end of the game. Snyder looked like a dog with his tail between his legs. Bo was screaming in his ear the whole way.
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I'm calling BS on that. Snyder had just whipped the nubs on their home field for the like the 1st time ever in KSU history. I have no problem with a little payback for years of lopsided outcomes. I guarantee you he felt nothing like a dog with his tail between his legs. The only thing I saw was a crybaby temper tantrum from Pelini, while Snyder maintained his composure instead of stooping to that level. If Pelini didn't want them to run up the score he should have done something about it with all his defensive genius.
 
More on the story:

http://rivals.yahoo.com/ncaa/footba...time-for-the-funeral-of-his-?urn=ncaaf,165949

Here's the situation K-State finds itself in after Kraus' 10-month run as AD from April 2008 to January 2009: As university vice president for institutional advancement, Kraus signed off on a $1.9 million "consulting" deal with then-AD Tim Weiser in January '08, exactly one week before Weiser resigned to become the Big 12 conference's deputy commissioner; in August, Kraus agreed to a five-year extension with Prince, then 12-13 in two seasons, which included a very visible $1.2 million buyout on top of the secret deal for $3.2 million; less than three months later, Krause fired Prince with three games to go in the season and hired 69-year-old Wildcat legend Bill Snyder for $1.8 million a year through 2013, claiming he didn't talk to any other coaches in the process; a $70 million expansion to athletic facilities is "stalled," according to the Kansas City Star
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Season ticket sales are down for the fifth straight year -- directly corresponding with the prospects of the team, appropriately enough, with little hope for the foreseeable future: Of the 19-man junior college class Prince inked in a risky bid for instant impact in 2008, all of three were still listed on the spring roster, and Snyder's first incoming class in the transition was rated as the worst in the Big 12 by a fairly wide margin in February.
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the more I'm reading about this, the less it's looking like a deferred compensation agreement. So I'll jump on the bandwagon here and say "HA HA!!!!"

I hope the mildcats enjoyed their brief taste of success. They're back to where they belong - at the bottom of the conference.
 
I hate to harp on this, but that rivals article used the term "deferred compensation" again. :bang:

Somebody really needs to get his facts straight on this.
 
Reporters aren't the brightest lights on the Christmas Tree. The reporter is using the term deferred compensation because it was used already or he remembers hearing it before and it sounds like he knows what he's talking about.
 
sackman said:
I hate to harp on this, but that rivals article used the term "deferred compensation" again. :bang:

Somebody really needs to get his facts straight on this.
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I would love to take a deposition from Bob Krause. It would be interesting to see if they could find out what he was thinking when he did this.

It sounds like the University Administration went rogue, firing Tim Weiser (and don't kid yourself he was pushed out) who is a smart guy and I believe he was a good AD and then appointing a bobble-head as the AD. I have to ask myself what was behind all this?
 
96 Buff said:
16 players from Prince's 2008 class are gone? Holy ****.
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No kidding. I couldn't believe that when I read it.

BlackNGold said:
The KSUFAN response to the story was classic delusional fan....I guess every program has them, although Nebraska has cornered most of the market.
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I can only imagine. My dad works with one pretty hardcore KSU fan and that guy cannot stop talking about how Snyder is going to take them back to the top. They are headed for the toilet.
 
Boulder Buff said:
No kidding. I couldn't believe that when I read it.



I can only imagine. My dad works with one pretty hardcore KSU fan and that guy cannot stop talking about how Snyder is going to take them back to the top. They are headed for the toilet.
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Maybe to a KSU fan the top of the toliet is 'The Top'.:confused:



:smile2:
 
Sounds like an agency question to me. Did Prince and his attorney have reason to believe that the AD could sign this agreement and bind the school. Did the AD have the authority to do so? I would look at the school and the AD individually as named parties. In any event, this is very fishy. Prince appears to have questionable ethics and the AD is a dumbass. I bet BS was the only one they could get to come in and take the steaming pile of crap RP is leaving behind.
 
Wyo Buff said:
Sounds like an agency question to me. Did Prince and his attorney have reason to believe that the AD could sign this agreement and bind the school. Did the AD have the authority to do so? I would look at the school and the AD individually as named parties. In any event, this is very fishy. Prince appears to have questionable ethics and the AD is a dumbass. I bet BS was the only one they could get to come in and take the steaming pile of crap RP is leaving behind.
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Exactly. If he would have had any sense, he would have stayed retired.
 
Unleash Hell said:
I am still scratching my head ob why Phil Steele picked the kitties 3rd in the north this year.
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He's banking too much on them only having to play 1 true road game against North foes, but this is one pick I'm just not seeing. He even states that they had the worst yard-differential in the conference and he ranks 3 or their 4 offensive units 10th or lower. :wow:
 
Apparently, the Power of One did not apply to slush funds.

I don't see an NCAA penalty out of this...yet.

That might change if any players names show up in association with any of those undocumented expense items.
 
I wonder if some of those funds were used for the Power Towels?
 
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