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What are the real financial terms and consequences of letting Bz go after this year

WFU1990

WFU1990

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Does anyone know the terms of Bz's deal, the terms of Dino's deal and whether we are still paying, and an idea of the financial outlay in terms of these two coaches going forward, notwithstanding the cost of the new coach. It is clear that we need to go in a new direction, but I am wondering what kind of financial hole we have dug and whether that may impede our ability in the short term to pay significant money to a tier one coach (not looking for the standard "we can't afford not to" response, although I get the reasoning). Thanks for the info if you have it!
 
From memory, Dino's deal was for ~$850k/year and [Redacted]'s for ~$950k/year. This would be per Wake's form 990's where the school is required to disclose compensation of its highest paid employees. Dino's extension was made in September 2009 and was through the 2013-2014 season. [Redacted]'s contract was signed in April 2010 and was likely a 5 year deal that would carry him through the 2014-2015 season. Pretty much worse case scenario in the event we fire [Redacted] would have us on the hook for $1.8mm next season and $950k the following season. It is the general belief that Dino's contract had a buyout clause that was not for the full value of the contract and that we are done paying him.

Gregg Marshall's current salary is $900k. Shaka Smart's current salary is $1.3mm. John Groce was hired by Illinois last year at ~$1.4mm/year. Mark Turgeon was hired by Maryland two years ago at $1.9mm/year. Mark Gottfried was hired by NC State two years ago at $1.2mm/year and has since received a raise to $1.95mm/year. ETA more salaries: Frank Martin was hired by South Carolina last year at ~$2mm/year. James Johnson was hired by Virginia Tech last year at ~$700k/year. Mike Anderson was hired by Arkansas two years ago at $2.2mm/year. Brian Gregory was hired by Georgia Tech two years ago at $1mm/year. Lon Kruger was hired by Oklahoma two years ago at $2.2mm/year. Cuonzo Martin was hired by Tennessee two years ago at $1.3mm/year. Billy Kennedy was hired by Texas A&M at ~$1mm/year. That is every major conference coaching change of the last two years (except for Miami which isn't required to disclose compensation).

Wake was making ~$6mm/year from television revenue in 2010 and the average payout of the current deal is ~$17mm/year.
 
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TBR said:
From memory, Dino's deal was for ~$850k/year and [Redacted]'s for ~$950k/year. This would be per Wake's form 990's where the school is required to disclose compensation of its highest paid employees. Dino's extension was made in September 2009 and was through the 2013-2014 season. [Redacted]'s contract was signed in April 2010 and was likely a 5 year deal that would carry him through the 2014-2015 season. Pretty much worse case scenario in the event we fire [Redacted] would have us on the hook for $1.8mm next season and $950k the following season. It is the general belief that Dino's contract had a buyout clause that was not for the full value of the contract and that we are done paying him.

Gregg Marshall's current salary is $900k. Shaka Smart's current salary is $1.3mm. John Groce was hired by Illinois last year at ~$1.4mm/year. Mark Turgeon was hired by Maryland two years ago at $1.9mm/year. Mark Gottfried was hired by NC State two years ago at $1.2mm/year and has since received a raise to $1.95mm/year. ETA more salaries: Frank Martin was hired by South Carolina last year at ~$2mm/year. James Johnson was hired by Virginia Tech last year at ~$700k/year. Mike Anderson was hired by Arkansas two years ago at $2.2mm/year. Brian Gregory was hired by Georgia Tech two years ago at $1mm/year. Lon Kruger was hired by Oklahoma two years ago at $2.2mm/year. Cuonzo Martin was hired by Tennessee two years ago at $1.3mm/year. Billy Kennedy was hired by Texas A&M at ~$1mm/year. That is every major conference coaching change of the last two years (except for Miami which isn't required to disclose compensation).

Wake was making ~$6mm/year from television revenue in 2010 and the average payout of the current deal is ~$17mm/year.
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Great information! Thanks. It looks like we can easily swing a mid-range income hire, but I think that for Shaka to even sniff our job, it would take 2Mil per, and that looks like it might be a bit of a stretch once all of our other expenses are accounted for.
 
It is ridiculous that we are paying over $2 mil for a football coach when we can't/won't pony up for a serious basketball coach. $2 mil/year is a BARGAIN if we compete for ACC titles and make a Final 4 run.
 
Lets drop Groby boy to 1 mil a year. That will clear some $. Im fine with cutting his salary to more than that based on last couple of years.
 
I obviously don't have full knowledge of the department's budget, but we do have ~$11mm/year more in television revenue than we did 3 years ago (it's an escalating deal though so it would actually be less than that for right now, still a very size able chunk of dough though). Combine that with the obvious revenue upside of having a good, young, exciting basketball coach, I think we could likely swing in excess of $2mm for Shaka. FWIW, Illinois reportedly offered him $2.5mm/year last year.
 
Turd Ferguson said:
It is ridiculous that we are paying over $2 mil for a football coach when we can't/won't pony up for a serious basketball coach. $2 mil/year is a BARGAIN if we compete for ACC titles and make a Final 4 run.
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agreed
 
TBR said:
I obviously don't have full knowledge of the department's budget, but we do have ~$11mm/year more in television revenue than we did 3 years ago (it's an escalating deal though so it would actually be less than that for right now, still a very size able chunk of dough though). Combine that with the obvious revenue upside of having a good, young, exciting basketball coach, I think we could likely swing in excess of $2mm for Shaka. FWIW, Illinois reportedly offered him $2.5mm/year last year.
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Thats hilarious. Have we played on a major tv network this year? Imagine how much revenue Shaka could pull in. The Joel would be sold out every night!
 
How about Wellman's contract?
 
PhDeac said:
How about Wellman's contract?
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"$2.44 million for Wake Forest's Ron Wellman were driven heavily by payouts of deferred compensation amounts that had been accumulating for more than a decade, according to the returns and other information provided in response to requests from USA TODAY Sports."

Wellman got $1,737,619 in deferred compensation during 2010, an amount described in Wake Forest's tax return as the payout of money that had accrued from 1995 through 2010 and vested during 2010.

From USA Today
 
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stratt said:
Thats hilarious. Have we played on a major tv network this year?
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Two football games, @ FSU and vs Clemson (as was @ND, but that was through ND's deal with NBC) and no basketball thus far. @ FSU will be on national TV as will, I believe, any ACC-T games in which we play.

So, yeah, the rest of the ACC should hate us.
 
Turd Ferguson said:
It is ridiculous that we are paying over $2 mil for a football coach when we can't/won't pony up for a serious basketball coach. $2 mil/year is a BARGAIN if we compete for ACC titles and make a Final 4 run.
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Yep, in my perfect world, Grobe would be fired and we would put more money into the basketball program. I've come to accept mediocrity in football, and that's okay with me. Maybe a 9-3 season here and there, but for the most part, we're too small of a school to compete consistently in football. Now, in basketball, we have the potential to be an elite program, so I say heck with it, fire Grobe and pay Shaka or any young and upcoming coach more $.
 
Amazing we pay Bz more than Dino. Amazing we pay Bz anything.

Wake, it's time to pony up and pay $1.5-2M for a coach. If we pay Grobe $2.5M to run a middle-of-the-pack football program, we should pay competitive dollar for our flagship program.

Oh, and fire Bz.
 
TBR said:
Two football games, @ FSU and vs Clemson (as was @ND, but that was through ND's deal with NBC) and no basketball thus far. @ FSU will be on national TV as will, I believe, any ACC-T games in which we play.

So, yeah, the rest of the ACC should hate us.
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That's right...forgot about football. Was thinking only about bball.
 
TBR said:
No details on length, but salary is about $600k.
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Last I saw was 695 a year with additional compesations (Although not sure what compesations he would be getting)
 
TBR said:
That's right, I misread.
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What are the compensations he is getting, though. It's like he getting bonuses for every game bzzz wins. I find it laughable that he is giving bzzz more than Dino...
 
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