This Jimbo news has got me all excited. A&M just ponied up $76M to fire him, and here we are, worried about $8M to fire shit for brains. Fire that SOB!
Has Payne been fired yet?
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The last time I’m could wrestle numbers from U of L, we were routinely showing negative bank balances.
My guess is aTm is in a little better shape financially…
My guess is aTm is in a little better shape financially…
The money will be there. It always is. Don't pay attention to balance sheets. $ will come from donors.
Which buyouts has any donor ever paid? Or are you saying “this time it’s different?”…
Can't believe I have to tell you this, but UofL raises money all the time. They lean on donors and boosters all the time. At the end of the day, yes, the buyout will be from UofL. But they get those funds from donors and boosters. Also, a friendly reminder to everyone concerned about buying Payne out. Buyouts are paid in installments over a lengthy period of time. You don't need the full $8M on hand to fire him.
Lastly, Mississippi State just fired their first year head football coach. They didn't give him a full season, because when you know, you know. We know the same about KP. He can't coach. Fire Payne now!
This is an accounting issue, not one where we have to believe or discount the existence of fat cat donors. The annual reports offer a credible third-party account of where ULAA money came and went.
Let's look at Petrino's buyout, widely discussed as approx. $14 million. He was bought out in the 2nd quarter of FY 2019. The 2019 annual report included the following statement at the top of page 4:
"...Operating expenses of $141.6 million, an increase of $22.8 million or 19.1% was primarily due to the contractual buyout of a former coach..."
Net position that year also decreased by $15.1 million. Net position the following year (2020) INCREASED by $4.3 million. And net position would not be impaired if we paid a buyout and received outside revenue to pay for it.
Speaking of which, let's go back to the 2019 report which also included this statement on revenues:
"...Operating revenues amounted to $86.8 million an increase of $10.4 million or 13.5% was due largely to a new sponsorship agreement..."
So what's this info tell us?
- While the expense for Petrino's buyout was paid over a few years--as you mention--it was all BOOKED in 2019. This is a conservative accounting approach.
- The $14 million was all included in the $23 million increase in expenses.
- There was no offsetting increase in revenue except for a "new sponsorship agreement." There was no revenue to ULAA to cover Petrino's buyout.
You and I don't have to try to convince each other what's going on when audited reporting settles the debate...
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Really thought he was a lock to get a 3rd year this summer. They went out of their way to schedule some bottom feeding scrub teams. I'm sure their goal was to rack up an increase in wins and point to that to say improvement.
As it turns out, the scrub teams aren't cupcakes for UofL.
It feels like they've just lost all the fans so I don't know how they can stay the course with it if this is what it's going to be all year.
This is the strangest thing I've ever seen following the program, so I have no idea what happens or when.
I honestly do not even know who is making the decisions on hiring/firing. Is it the BOT, or is it Josh? I think Josh is a messenger. I wonder what the BOT is thinking. Maybe they don't care.
Who knows?
As it turns out, the scrub teams aren't cupcakes for UofL.
It feels like they've just lost all the fans so I don't know how they can stay the course with it if this is what it's going to be all year.
This is the strangest thing I've ever seen following the program, so I have no idea what happens or when.
I honestly do not even know who is making the decisions on hiring/firing. Is it the BOT, or is it Josh? I think Josh is a messenger. I wonder what the BOT is thinking. Maybe they don't care.
Who knows?
I don’t think UofL will ever be on the same financial level that TA&M is
If the idiots in charge have decided that they intend to move heaven and earth to give him 17 chances, they will point to Brohm and oder you: Be satisfied.
Are there street politics reasons they want Payne kept a while even if 10 wins is his maximum best? Yes. And virtually everybody with the power will either be on the side off those street politics or else terrified of even saying boo to them when they riot because they do not want to be labeled racist.
Payne is super arrogant for a reason.
Payne is super arrogant for a reason. This simple sentence sums up why the program is in this position. I get giving an a Coach like Pitino totally control over a program. Giving a 1st time head coach that kind of control at Louisville was a mistake.
Street politics won’t save him if they get blasted by Texas, Indiana, UK and in conference play. The UK game will be a home game for them! In today’s environment transfers-NIL very few will argue what they have seen live or on tape that he deserves more time. You just take the PR hit and move on. With that said you can’t botch that process. That is why I think he will make it till the end of the year even if it goes awful this season.
Street politics won’t save him if they get blasted by Texas, Indiana, UK and in conference play. The UK game will be a home game for them! In today’s environment transfers-NIL very few will argue what they have seen live or on tape that he deserves more time. You just take the PR hit and move on. With that said you can’t botch that process. That is why I think he will make it till the end of the year even if it goes awful this season.
EXACTLY !! Everyone with a brain knew he was a dead man walking last year.. He not only has been grossly unsuccessful, he has disgraced the Louisville brand. He's made our once proud program the laughing stock of college basketball.. As I said in another thread I think we should tell Kinsucky that we have covid and can't play until next season. That game will be lambs to slaughter. Hell just fire his ass and cancel the rest of the season. Get Eeyore out of here..
