Lots of talk about money, mostly stemming from the ludicrous buy out provisions in CBP's contract. I know, I know; no one thought it would be necessary but here we are. FWIW, it appears we are out of athletic spending money mainly because of the totally unnecessary TJ buyout (~$8M) and the unexpected annual $2.4M YUM! flat rate increase for 2018...both actions decisions by the interim school administration.
Even if CBP had been dismissed "the right way" we were still looking at a $4M buy out fee for Mack or a similarly qualified replacement. I won't count Mack's Miami buy out as an "unexpected expense" because that feature/expense is unfortunately getting increasingly common when you are in a serious coaching search.
IOW, A LOT of "unexpected athletic expense" for 2018. And much of available cash on hand and ready reserve going to those expenses. I know the ULAA Hickman/Camp fund has already been hit for about $8M.
But getting back to probable forthcoming CBP buy out expenses of ~$14M for a new hire, if no other courses of action, what about the UofL Foundation?
Bill Olson put over $30M in ULAA money in the school foundation. I'm pretty sure Jurich was quite respectful of that money, borrowing a million here, a million there and repaying with interest. I believe I recall reading somewhere that it was pledged as collateral against the current ULAA stadium bond. But, even if so, it seems that might be a negotiable issue.
I know there are 3 games left but 2018 has gone beyond the proverbial "unexpected bad year". Other than FSU there has been no competitiveness whatsoever in the other 6 losses. Not an annual decline situation here but a total crash and burn situation. I'm not sure there are too many instances where a guy has come back from this type of losing season, especially with a team that had a recent history of doing quite well before he took over.
I simply cannot explain 2018 Cardinal football but it cannot be allowed to spread to out years. I think a change is stunningly unexpected, will be expensive but is necessary. Even with "the right guy" it will probably take a couple or 3 years to correct back to where we were just last year. But is very important to get a coaching selection right this time around - we are not TN, AU or LSU who have often had multiple coaches "under contract".
I was 100% behind CBP's second tour here but, barring a staggering turnaround these last 3 games I think UofL has to pull that multi-million dollar trigger. There is simply no reason to explain this year other than bad talent and/or bad coaching. But either reason falls under coaching.
There may be (but unlikely) better available coaches out there than Jeff Brohm but I'm not sure any would have a more immediate ticket impact he would. All JMO
Peace
Even if CBP had been dismissed "the right way" we were still looking at a $4M buy out fee for Mack or a similarly qualified replacement. I won't count Mack's Miami buy out as an "unexpected expense" because that feature/expense is unfortunately getting increasingly common when you are in a serious coaching search.
IOW, A LOT of "unexpected athletic expense" for 2018. And much of available cash on hand and ready reserve going to those expenses. I know the ULAA Hickman/Camp fund has already been hit for about $8M.
But getting back to probable forthcoming CBP buy out expenses of ~$14M for a new hire, if no other courses of action, what about the UofL Foundation?
Bill Olson put over $30M in ULAA money in the school foundation. I'm pretty sure Jurich was quite respectful of that money, borrowing a million here, a million there and repaying with interest. I believe I recall reading somewhere that it was pledged as collateral against the current ULAA stadium bond. But, even if so, it seems that might be a negotiable issue.
I know there are 3 games left but 2018 has gone beyond the proverbial "unexpected bad year". Other than FSU there has been no competitiveness whatsoever in the other 6 losses. Not an annual decline situation here but a total crash and burn situation. I'm not sure there are too many instances where a guy has come back from this type of losing season, especially with a team that had a recent history of doing quite well before he took over.
I simply cannot explain 2018 Cardinal football but it cannot be allowed to spread to out years. I think a change is stunningly unexpected, will be expensive but is necessary. Even with "the right guy" it will probably take a couple or 3 years to correct back to where we were just last year. But is very important to get a coaching selection right this time around - we are not TN, AU or LSU who have often had multiple coaches "under contract".
I was 100% behind CBP's second tour here but, barring a staggering turnaround these last 3 games I think UofL has to pull that multi-million dollar trigger. There is simply no reason to explain this year other than bad talent and/or bad coaching. But either reason falls under coaching.
There may be (but unlikely) better available coaches out there than Jeff Brohm but I'm not sure any would have a more immediate ticket impact he would. All JMO
Peace
