I don’t think people realize the hole we are in right now because of KP.
Zipp can give you the entire thing about Jurich and Petrino’s buyouts. The loss of revenue. The donor fatigue. The attendance drop. Plus Mack’s buyout. That hurt, but it didn’t kill us. But it put us behind the 8 ball. Plus COVID revenue losses.
Kenny Payne has a massive buyout if we want to get rid of him. We can’t fire him until March, and that will be $6 million. Then you have to factor in that to get a new coach you’ll have to buy that coach out and offer them a bigger contract if you want to get someone good.
People can say “oh there’s money” but it’s not the same. 15 years ago, even though the Big East didn’t make as much as other leagues, it wasn’t a huge gap. We had donors that could make up a difference. Our basketball program was very profitable, which means football money didn’t have to subsidize it.
But it’s 2023. In the next few years, SEC and Big Ten schools will be getting close to $100 million per year from their TV deals. That’s a massive gap between what we have now. It raises the prices of everything because getting and keeping good staff is more expensive because a school like Northwestern and Vandy can outbid you. With our hiring of Jeff Brohm, we’re having to pay the staff more and will continue to have to keep up. Ron English and Hagen will be looked at after big years. We’ll have to pay them if say a Michigan wants them.
That leads to NIL. Well that takes money from donors and sponsors. So that’s less money in the pot from the university. To get good football recruits, we have to get donors to give. Well if donors have to give to a buyout, that’s less for NIL. If they pay more NIL, that’s less for a good basketball coach’s
Then there’s this nugget. We paid a buyout to Mack. We’ll have to pay a big buyout to Kenny Payne. We’ll have to pay a new coach big money in salary and a buyout. Attendance this year with KP is going to be rock bottom, meaning basketball would be losing money and no longer profitable. So a self sustaining program is no longer able to cover itself, that money has to come from athletics and it hurts everyone as there’s less money. Brohm’s ability to have a bigger staff, Coach Mac’s baseball facilities, keeping Walz here, and more.
Yes there is money, but the new SEC and Big Ten changes everything. Costs are higher and we’re competing with more programs. Revenue losses and buyouts have already drained us a bit, but this KP situation will really hurt us overall. With NIL, everything changes.
If say in April we want to fire KP and hire Jerome Tang, we’d need to come up with $12 million on the spot. Well the donors that put KP in are now gone. So does that money come from getting Brohm a great NIL transfer class? Does it come from the baseball facility upgrades? Does it come from other staff and facility funds?
This fun year we’re having with Brohm is great, but this money issue is going to hurt everyone. It’s really bad right now. And if the ACC collapses and we don’t get to the Big 12, things will really be bad.
Zipp can give you the entire thing about Jurich and Petrino’s buyouts. The loss of revenue. The donor fatigue. The attendance drop. Plus Mack’s buyout. That hurt, but it didn’t kill us. But it put us behind the 8 ball. Plus COVID revenue losses.
Kenny Payne has a massive buyout if we want to get rid of him. We can’t fire him until March, and that will be $6 million. Then you have to factor in that to get a new coach you’ll have to buy that coach out and offer them a bigger contract if you want to get someone good.
People can say “oh there’s money” but it’s not the same. 15 years ago, even though the Big East didn’t make as much as other leagues, it wasn’t a huge gap. We had donors that could make up a difference. Our basketball program was very profitable, which means football money didn’t have to subsidize it.
But it’s 2023. In the next few years, SEC and Big Ten schools will be getting close to $100 million per year from their TV deals. That’s a massive gap between what we have now. It raises the prices of everything because getting and keeping good staff is more expensive because a school like Northwestern and Vandy can outbid you. With our hiring of Jeff Brohm, we’re having to pay the staff more and will continue to have to keep up. Ron English and Hagen will be looked at after big years. We’ll have to pay them if say a Michigan wants them.
That leads to NIL. Well that takes money from donors and sponsors. So that’s less money in the pot from the university. To get good football recruits, we have to get donors to give. Well if donors have to give to a buyout, that’s less for NIL. If they pay more NIL, that’s less for a good basketball coach’s
Then there’s this nugget. We paid a buyout to Mack. We’ll have to pay a big buyout to Kenny Payne. We’ll have to pay a new coach big money in salary and a buyout. Attendance this year with KP is going to be rock bottom, meaning basketball would be losing money and no longer profitable. So a self sustaining program is no longer able to cover itself, that money has to come from athletics and it hurts everyone as there’s less money. Brohm’s ability to have a bigger staff, Coach Mac’s baseball facilities, keeping Walz here, and more.
Yes there is money, but the new SEC and Big Ten changes everything. Costs are higher and we’re competing with more programs. Revenue losses and buyouts have already drained us a bit, but this KP situation will really hurt us overall. With NIL, everything changes.
If say in April we want to fire KP and hire Jerome Tang, we’d need to come up with $12 million on the spot. Well the donors that put KP in are now gone. So does that money come from getting Brohm a great NIL transfer class? Does it come from the baseball facility upgrades? Does it come from other staff and facility funds?
This fun year we’re having with Brohm is great, but this money issue is going to hurt everyone. It’s really bad right now. And if the ACC collapses and we don’t get to the Big 12, things will really be bad.
