Macks Final Buyout: 4.8 Million

[shadow force]

The board of trustees and University of Louisville Athletic Association jointly approved Mack's separation agreement, interim athletic director Josh Heird announced. The contract that Mack signed in 2018 called for a $12 million buyout, but the two sides negotiated the buyout down to $4.8 million as part of the agreement, sources told ESPN.

 

[shadow force]

Mack and Heird had numerous discussions throughout the season and recently, sources told ESPN, the sides agreed the place had become too toxic for Mack to continue.

"Coaching transitions are always difficult, especially during the course of the season, but Chris and I agreed that it is in the best interests of our student-athletes that he step aside immediately," Heird said in a statement that described the move as a "mutual agreement to part ways, effective immediately."

 

[Knucklehank1]

That Gaudio tape saved the university $7M

 

[BPGhost]

That Gaudio tape saved the university $7M

Yeah, but who knows what will ultimately cost in the end?

 

[BPGhost]

The board of trustees and University of Louisville Athletic Association jointly approved Mack's separation agreement, interim athletic director Josh Heird announced. The contract that Mack signed in 2018 called for a $12 million buyout, but the two sides negotiated the buyout down to $4.8 million as part of the agreement, sources told ESPN.

Thought we were broke? 🤔

 

[Ipartiedwithhopgood]

@zipp what's up brother get ITT!!!

 

[Ipartiedwithhopgood]

Thought we were broke? 🤔

you don't post enough

 

[Art79]

That Gaudio tape saved the university $7M

Actually, the tape saved the university almost 8 million. Heird said the buyout would have been 12.75 million (presumably 4.25 million per year for 3 years) versus the 4.8 million.

 

[CARDWIZ]

I'm happy with it

 

[shadow force]

I'm just glad Mack made his exit as smooth as possible under the circumstances. He could've dug his heels in and demanded that 12 million and drawn things out in an ugly way. He didn't and I do give him credit for that.

 

[nccardfan]

I'm just glad Mack made his exit as smooth as possible under the circumstances. He could've dug his heels in and demanded that 12 million and drawn things out in an ugly way. He didn't and I do give him credit for that.

I don’t know. If you saw his interviews today, he is a totally different person. You can tell he’s so relieved that this is over. It was definitely causing him a lot of stress and anxiety. I think that comes from the pressure of having ties to the community.In these times, you have to think about your mental health. I don’t think he could take it much longer.

 

[glassmanJ]

I don’t know. If you saw his interviews today, he is a totally different person. You can tell he’s so relieved that this is over. It was definitely causing him a lot of stress and anxiety. I think that comes from the pressure of having ties to the community.In these times, you have to think about your mental health. I don’t think he could take it much longer.

main reason i think payne should be passe don besides no experience. those who come home generally fail. too much pressure. hardaway is wilting in memphis. ewing was pro coach for decade and about to be gone. list is long of those to tried to save their alma mater and failed miserably, louisville is not a first timer's gig anymore

 

[zipp]

@zipp what's up brother get ITT!!!

Spending borrowed money. $4 million of net cash on the books as of 12-31-2021.

$13 million as reported with a $9 million draw on a line of credit. $11 million more available. Most of the cash available is borrowed.

Monthly cash burn at the moment $1-2 million. Football staff buyouts will be around $5 million at the end of the year.

Same old same old…

 

[BPGhost]

you don't post enough

You say most of the stuff that I would - only quicker!

 

[Ipartiedwithhopgood]

You say most of the stuff that I would - only quicker!

look at us

 

[Steelers2012]

Would a Kenny Payne hire involve a Knick’s contract buyout and is that a significant consideration in the decision process?