That’s roughly what it would cost to get rid of Walters. Not gonna happen, no matter how badly he sink the FB program…
$9M…
- Thread starter IronChefBBQ
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The loss of revenue from the fans not going/watching the game I would think would be MUCH higher, so I wouldn't say never.
Yeah, and when you add merch sales, people being less likely to pony up NIL money, and other secondary sources of revenue, it adds up fast. Most of the tickets have already been sold, but empty seats don't buy food and drinks at games, so you also lose that money as well.
$9mil is nothing with a 60-65mil TV nut coming in. Season tickets are already sold this year but will take a big hit over the next 2 if we just let him stay.
If he’s 1-11 or 2-10 you have to move on and hope that steady ticket revenue in 25 and 26 covers the difference.
The one good thing about his hire is that his buyout was short and not an insurmountable barrier to moving on.
If he’s 1-11 or 2-10 you have to move on and hope that steady ticket revenue in 25 and 26 covers the difference.
The one good thing about his hire is that his buyout was short and not an insurmountable barrier to moving on.
The school need not pony up a dime IF it’s time to part ways with a HC. (Personally I’m not there. Yet.) Recently Texas A & M alums gathered the cash to buy out Jimbo. For BIG $$. Purdue is a better school therefore
most likely has more cash-laden alums to do the dirty deed if necessary. Alums from an elite school like Purdue could pull that off in a millisecond. Right?
But relating back to a post I made earlier, our school is beholden to the football cabal that says there can only be so many “non-Ohio States” at a time in any given conference and right now, it ain’t our turn. Our AD and BOT plays along. It’s just the way it is. That said, if we want to at least try to attempt consistent competitiveness, see Iowa. Get strong, get physical, do not waver. Stay the course. The fact our running game the last 15 games (overall) has been good gives me a glimmer of hope.
most likely has more cash-laden alums to do the dirty deed if necessary. Alums from an elite school like Purdue could pull that off in a millisecond. Right?
But relating back to a post I made earlier, our school is beholden to the football cabal that says there can only be so many “non-Ohio States” at a time in any given conference and right now, it ain’t our turn. Our AD and BOT plays along. It’s just the way it is. That said, if we want to at least try to attempt consistent competitiveness, see Iowa. Get strong, get physical, do not waver. Stay the course. The fact our running game the last 15 games (overall) has been good gives me a glimmer of hope.
Yeah kudos to MBob for negotiating a 25% discount…. He must have known this was a gamble.
One point of clarification - it’s not $9 million due when he’s fired. He just gets 75 percent of his normal pay for the next 3 years.
What I don’t know is if there’s offset language in the contract.
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I always laugh when fans complain about how much a buyout is as if it's coming out of their own pocket.
Unless you're a mega-donor and a bunch of other mega-donors call you up and ask for how much you're willing to contribute to a buyout, the number is irrelevant to the normal fan.
Unless you're a mega-donor and a bunch of other mega-donors call you up and ask for how much you're willing to contribute to a buyout, the number is irrelevant to the normal fan.
A big buyout affects the stickiness of a coaching contract, reducing the likelihood of moving on after a failure, and calls further into question the wisdom of the initial hire. Plus, over-spending on a bad bet reduces resources to compete for a quality replacement. I believe it’s rational for fans to think about this stuff, considering how much it impacts the program’s future.
9mil doesn’t impact the programs future when we will bring in almost 200mil in TV money and likely another 60-70mil in other revenue over that time
I don’t think offset language will be a thing here. If he gets another job somewhere maybe as coordinator he will be paid very minimal. If I were in that position I might just spend the next 3 years staying home with my family and maybe working the money made already.
I disagree. Purdue has plenty of money. Losing $9M on a buyout doesn't impact anything. Sure, the athletic dept will cry poor and ask for more donations, but they know the name of the game is money and you have to be willing to spend and risk it.
There's a much greater financial risk by letting your program fall to the very bottom, losing the fan base, etc, than there is with making a change eating a buyout.
I agree with your premise, and the idea that if there was one checkbook and one check writer, this logic would hold up. But it’s that “crying poor and asking for donations” thing that impedes the right decision being made quickly. How many times have you seen programs hang onto a coach too long and start tanking even though it doesn’t make financial sense? I think that’s all people are worried about with a big buyout.
Our program is now close to the bottom of the barrel. The only P4 team lower than us on the Athletic's rankings of D1 football teams is Mississippi State, and I bet we drop behind them at some point.
We would finish last in the MAC the way we have played the last 2 weeks.
There’s no lump sum to be paid tho. $3 mil per over 3 years is a drop in the bucket and the 1 blessing of the contract we signed.
If there’s no DRAMATIC improvement you have to cut bait. 15 games I don’t think there can be a jury that’s still deliberating. The team is so broken on each side of the ball the program needs a total tear down 21 months in. Just imagine how bad it gets 12+ months from now.
Admit the mistake and move on. Bobinski has enough positive this doesn’t cost him his job. If staff is left to fester another year…then it’s negligence and he should be put out along with Walters.
What other positives do you attribute to Bobinski?
Given he made this hire, I wouldn't pay 9 million for him to make another multi-million dollar mistake. I don't think he should be making the next hire.
So, what's the difference if Purdue goes 2-10 and fires Walters in Dec? Maybe they save $3 mil in the buyout?
I'll say that I'm not ready to cut Walter loose yet. Harrell, maybe. But, if this team continues to get blown out, doesn't show signs of improvement, then MBob has to make a change at the end of the season.
The buyout is 75 percent of his pay remaining on the contract. Doesn’t matter what date you terminate him.
So they only save $3 million if they fire him after the 2025 season instead of after the 2024 season.
The only reason you might keep him around for 2025 isn’t financial. It would be to show stability to the next coach.
He (and Mitch and Berghoff) hired Brohm. And he has not been an impediment to the basketball program… unlike other ADs…
Correct. Baseball has been better. New Soccer coach seems to know what he’s doing. Golf always solid. Obviously basketball better than it has been. Shondell was here but we’ve kept him happy and around and have a perennial top 15-20 program.
Football is the cash cow but let him learn from his mistake IMO. Outside of 4 hours every Saturday the rest is more than fine IMo
Right but MBob seems to be supporting Basketball in a way that previous ADs may not always have.
I remember when just 5-6 years ago it was unfathomable that a guy didn’t get 3+ years to build the program.
With legal free agency and a team struggle to catch and tackle the potential impact to leaving the raisin on the vine here is massive and something should be done if we don’t look a lot better very very very quickly.
The dollars and cents at stake necessitates quick action.
With legal free agency and a team struggle to catch and tackle the potential impact to leaving the raisin on the vine here is massive and something should be done if we don’t look a lot better very very very quickly.
The dollars and cents at stake necessitates quick action.
There was for sure a time where Painter had to struggle with Burke to get what he wanted and needed. Buts let's also remember that Burke did not have the same kind of television revenue Bobinski is working with now. Before BTN started to open up negotiations for TV rights that have led the to skyrocket in the past decade he was trying to run the athletic department to break even with less revenue than our peer institutions in conference and no money coming from student activity fees or anything like that. In fact, I believe millions were flowing the other direction for the first several years of BTN revenue. Even when Painter was listening to Missouri, Burke had to bring in Cordova and others to negotiate his new deal because he did t have the financial leverage to make.that deal on his own. I'm pretty sure Bobinski isn't running as tight.
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