What's new
AllBuffs | Unofficial fan site for the University of Colorado at Boulder Athletics programs

This is a sample guest message. Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

  • Prime Time. Prime Time. Its a new era for Colorado football. Consider signing up for a club membership! For $20/year, you can get access to all the special features at Allbuffs, including club member only forums, dark mode, avatars and best of all no ads ! But seriously, please sign up so that we can pay the bills. No one earns money here, and we can use your $20 to keep this hellhole running. You can sign up for a club membership by navigating to your account in the upper right and clicking on "Account Upgrades". Make it happen!

Ringo: CU Buffs officials face difficult decision on Jon Embree

I must be taking crazy pills, because I've never seen buyout language like that
 
Ringo tweet

For those asking, the buyout numbers in my story today for Embree and Bieniemy are correct. I verified them with CU. Total of $2.25 million

Embree $500,000 a year for 3 years or $1.5 million. Bieniemy $250,000 for three years or $750,000.

so we save 750 by letting these guys fail for another year?
 
Ringo tweet

For those asking, the buyout numbers in my story today for Embree and Bieniemy are correct. I verified them with CU. Total of $2.25 million

Embree $500,000 a year for 3 years or $1.5 million. Bieniemy $250,000 for three years or $750,000.

Great job in framing those numbers a completely different way in the story, Kyle.:lol:
 
Ringo tweet

For those asking, the buyout numbers in my story today for Embree and Bieniemy are correct. I verified them with CU. Total of $2.25 million

Embree $500,000 a year for 3 years or $1.5 million. Bieniemy $250,000 for three years or $750,000.


Ahh.. that makes some sense then. Figures that the girl writing the initial article didn't know what she was talking about. At least they don't owe either of them the full amounts due on their contracts.

If they wait until 2013 to fire them - it's $500,000 for Embree ($250,000 x 2 years remaining on contract) and $500,000 for Bieniemy ($250,000 x 2 years remaining on contract)

i.e. it's $2.25 million to fire them today. it's $1 million to fire them next year. Save $1.25 million by waiting until 2013 to fire them.
 
Ahh.. that makes some sense then. Figures that the girl writing the initial article didn't know what she was talking about. At least they don't owe either of them the full amounts due on their contracts.

If they wait until 2013 to fire them - it's $500,000 for Embree ($250,000 x 2 years remaining on contract) and $500,000 for Bieniemy ($250,000 x 2 years remaining on contract)

i.e. it's $2.25 million to fire them today. it's $1 million to fire them next year. Save $1.25 million by waiting until 2013 to fire them.
Slade can you break that math down for me. The way i see it is today:
3x 500K Embo
3x 250K EB

Next year would be:
2 x 500K Embo
2 x 250K Eb


so the net savings is 750K or one year of buyout for retaining them for 1 more year.
 
If that is the actual buyout then Mike Bohn should be fired


Why? In both cases, CU can cut ties for less than the face value of the contract. That's a tremendous improvement over CU's previous contracts for Hawkins and Barnett.

CU owes Embree 3 more years at $750,000 per year, according to the contract. (i.e. $2.25 million)
If they fire Embree at the end of 2012 season, CU owes 3 years at $500,000 per year, or $1.5 million. (savings of $750k)
If they fire Embree in 2013, CU owes 2 years at $250,000 per year, or $500,000. (savings of $1 million)
 
Why does Bieniemy even have a buy-out, how ridiculous!! So this year it's a $2.25mil buyout? Ugh
 
Slade can you break that math down for me. The way i see it is today:
3x 500K Embo
3x 250K EB

Next year would be:
2 x 500K Embo
2 x 250K Eb


so the net savings is 750K or one year of buyout for retaining them for 1 more year.

I think it breaks down as follows:

3 x 500K
3 x 250K

or

2 x 250K
2 x 250K

Net savings is $1.25 million for retaining them another year.
 
Slade can you break that math down for me. The way i see it is today:
3x 500K Embo
3x 250K EB

Next year would be:
2 x 500K Embo
2 x 250K Eb


so the net savings is 750K or one year of buyout for retaining them for 1 more year.


Each additional year reduces the buyout cost.

So if Embree is fired at the end of 2012 season, CU owes him $500,000 per year remaining on the contract. ($1.5 million)
If Embree is fired at the end of the 2013 season, CU owes him $250,000 per year remaining on the contract. ($500,000)
CU can terminate Embree with $0 exposure in either 2014 or 2015. (Of course, the contract expires in 2015 anyway)

For Bieniemy the numbers are a little different.
If Bieniemy is fired at the end of the 2012 season, CU owes him $250,000 per year remaining on the contract. ($750,000)
If Bieniemy is fired at the end of the 2013 season, CU owes him $250,000 per year remaining on the contract. ($500,000)
If Bieniemy is fired at the end of the 2014 season, CU owes him $125,000 per year remaining on the contract. ($125,000)
If Bieniemy is fired at the end of the 2015 season, CU owes him nothing. (Of course, his contract expires that year, anyway)
 
Each additional year reduces the buyout cost.

So if Embree is fired at the end of 2012 season, CU owes him $500,000 per year remaining on the contract. ($1.5 million)
If Embree is fired at the end of the 2013 season, CU owes him $250,000 per year remaining on the contract. ($500,000)
CU can terminate Embree with $0 exposure in either 2014 or 2015. (Of course, the contract expires in 2015 anyway)

For Bieniemy the numbers are a little different.
If Bieniemy is fired at the end of the 2012 season, CU owes him $250,000 per year remaining on the contract. ($750,000)
If Bieniemy is fired at the end of the 2013 season, CU owes him $250,000 per year remaining on the contract. ($500,000)
If Bieniemy is fired at the end of the 2014 season, CU owes him $125,000 per year remaining on the contract. ($125,000)
If Bieniemy is fired at the end of the 2015 season, CU owes him nothing. (Of course, his contract expires that year, anyway)

Ok that makes sense
 
$2.25 million to buy out both Embree and Bieniemy. Certainly explains why most expect them to be back next year.

we shouldnt be looking at the total we should be looking at the difference, since all we are doing is delaying the inevitable. We will lose well more than 1.25 million in ticket revenue next year so it should be a no-brainer from a revenue stand point.
 
Whatever the buyouts, if there is anything to this new possibility that JE is a goner this season, I sincerely hope that we at least have a replacement lined up. Taking a couple months to organize a search committee and vet candidates is not the way to go.
 
we shouldnt be looking at the total we should be looking at the difference, since all we are doing is delaying the inevitable. We will lose well more than 1.25 million in ticket revenue next year so it should be a no-brainer from a revenue stand point.


The cost to buyout both Embree and Bieniemy today is $2.25 million.
The cost to buyout both Embree and Bieniemy in 2013 is $1 million.
The cost to buyout both Embree and Bieniemy in 2014 is $125,000.

So - yes - the difference between termination today and termination in 2013 is $1.25 million. I would think that the loss of season ticket sales, loss of donations, loss of name brand, etc. would more than cover $1.25 million.
 
I could see this playing out this way. School announces it will reatin JE and the majority of the staff anfter the Utah game. The fan uproar builds over December and they change their minds early in Janurary and start a search committee. Meanwhile, the good candidates have been snapped up and the recruting class is shot.
 
The cost to buyout both Embree and Bieniemy today is $2.25 million.
The cost to buyout both Embree and Bieniemy in 2013 is $1 million.
The cost to buyout both Embree and Bieniemy in 2014 is $125,000.

So - yes - the difference between termination today and termination in 2013 is $1.25 million. I would think that the loss of season ticket sales, loss of donations, loss of name brand, etc. would more than cover $1.25 million.
From a legal perspective, that makes no sense if you know anything about liquidated damages. Hard to imagine this is how the lawyers would draft the contracts. Something is not right here.
 
So we can either pay $2.25 million to get rid of this mess and attempt to start over or we can pay JE and EB $1mil in salary to fail in 2013 thus reducing the amount we would need to pay them for a buyout at the end of 2013 to an additional $1mil for a total of $2mil.

Did I do the math correct?

If so the difference in firing them tomorrow or waiting until the end of 2013 is $250,000. How is this an issue?
 
Ringo is getting his info from the Admin. Wouldn't surprise me at all if they are inflating the cost of termination to make it look less desirable.
 
From a legal perspective, that makes no sense if you know anything about liquidated damages. Hard to imagine this is how the lawyers would draft the contracts. Something is not right here.
Truth. Not to mention mitigation. EB would definitely get a job with someone at at least half (more likely more) of his current salary. JE would probably do the same. You can cut that down significantly right there before even going into the legality of untouchable buyouts.
 
One would assume that a termination fee is mitigated by a requirement that the coaches would have to look for other employment and if they get a new job CU would only owe the difference between the new pay and the termination fees.

That's very standard.

Of course, this is CU.
 
I have just sent an email to Bohn and the foundation letting them know that it was refreshing to see the article from Ringo and that I truly hope that replacing the staff is on the table. I also let them know that if it is done this weekend, I will immediately make an additional small donation and increase my level of contribution when renewals come in next year. If they do not make the move to replace the entire staff, I will cease donations and concentrate only on basketball until the time when they demonstrate a committment to football and being a winner. We will see and I truly hope this is on the table. While I know that not everyone is capable or willing, I would encourage everyone who can to reach out in the same manner. Let them know we support this change and the fans will stand with the department to help make it happen.
 
40-45 million under the big-12, probably in the range of 60 million going forward.

1.25m is roughl 2.1% of the whole AD turnover. Just to put this in perspective. They´s squabbling over 2.1% of the whole AD´s turnover. Two point one percent.
 
Back
Top