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HONDO2

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1 - Ongoing investigation and manslaughter trial of Wake hoops assistant. ( negative PR )

2 - Ongoing investigation and indictment of Wake volleyball coach ( negative PR, legal fees if Wake is sued )

3 - Release of yearbook frat photo/confederate flag on Quad ( negative PR, several students pictured now on staff, Faculty statement blasting Hatch/BOT ).

Was the timing bad to fire Manning in light of 'Wake in the News' above ?
 
No. Firing Manning and making a splash hire would have been great PR.
 
….am thinking of eating $18 million as a factor
 
Because he's not making $3M/year and he has six years left. This alone make that impossible.

Additionally, contracts of this size do have oversight. There's no way in hell the powers that be would allow such a contract.

This is pure internet bullshit. Goodman was had.
 
He had multiple sources at Wake provide him the info and nobody has been able to refute it. Should be pretty easy to refute if it's just "pure internet bullshit."
 
Just think of it this way- He's not making as much as $3M/year. He has six years left on this contract. In what world, would a buyout for a middling, or any coach be for MORE than the total value of the contract?

This alone should show that his "sources" are FOS.
 
Wakeforest22890 said:
He had multiple sources at Wake provide him the info and nobody has been able to refute it. Should be pretty easy to refute if it's just "pure internet bullshit."
Click to expand...

There have been plenty of "sources" that have refuted it. Essentially, the $18 mil seems like if Wake wins the ACC tourney and get to the Final 4 AND Manning is somehow miraculously fired after hitting these markers, then he is entitled $18mil ish assuming he hasn't banged a coed or committed a crime or recruiting violations. Since he did none of that, the "number I am hearing" posters have said it is closer to $10million, which is essentially 5 or 6 years of his contract money, which makes more sense. Still a stupid contract, but doesn't stretch logic like $18 does.
 
I don't underestimate that an $18M buyout figure was 'released' to serve some larger 'departmental(mis)informational purposes.

The numbers don't seem to add up (at all), and that kind of 'business dealing' truly defies logic.
 
Here's my theory on the buyout, which I think is as good as any:

WFU Lurker said:
His original contract was $1.8M per year. We do not know what the new contract was.

If he has a buyout of $18M with 6 years left, that would imply he had a raise to $3M. Which would obviously be absurd.

Alternatively, I've suggested that perhaps the total deal value when it was signed was $18M. $18M over 8 years would work out to $2.25M per year. That would be a reasonable annual raise, but obviously ridiculous to not have a buyout clause.
Click to expand...
 
WFU Lurker said:
Here's my theory on the buyout, which I think is as good as any:
Click to expand...

That's mine as well. The $18M is likely a real number, it's just not the buyout number. It's likely the entire contract, with incentives. He might even have to win a national title to get the full amount. Tidbits of fact out of context is how rumors get started, and that's likely what happened here.

That being said, his buyout is most certainly way higher than it should be.
 
WFU Lurker said:
Here's my theory on the buyout, which I think is as good as any:
Click to expand...


It was reported his initial contract was $1.25 million....but neither here or there now.

If you're right on the $1.8 and then the $2.25 million, all I want to know is how this compares to Dave Clawson's contract. Last I saw - 2 years ago - Clawson was either last or next to last in the ACC.
 
HONDO2 said:
It was reported his initial contract was $1.25 million....but neither here or there now.

If you're right on the $1.8 and then the $2.25 million, all I want to know is how this compares to Dave Clawson's contract. Last I saw - 2 years ago - Clawson was either last or next to last in the ACC.
Click to expand...

The $1.25M was based off of the first form 990 he appeared on, which included him for only a partial year (since he was hired in April). The next two 990s, which would both relate to pre-extension, show him at $1.7-$1.8M, which also ties to the $1.25M once you annualize it.

Clawson's original contract was also for ~$1.8M per year. We won't know how much his extension paid until late-summer (when the 990 for the year ending June 2018 will come out, which will show his comp for calendar year 2017). Probably more likely than not he is still the lowest paid coach in the conference though, which is frankly not unreasonable given when the contract was signed, the performance of the program to that point, the extreme duration of the contract, and the likely generous buyout (assuming Wellman approached the the Clawson and Manning contracts similarly). I imagine that Currie will look to renegotiate reasonable soon, especially if Clawson receives legit interest from a compelling program.
 
RJ, Goodman is right. I have heard it from a few connected folks, some not connected to Wake.

Let us know your sources that have told you otherwise.
 
Ron probably floated that $18 mil number to cloud his personal decision to keep DM regardless.
 
mothersodear said:
Ron probably floated that $18 mil number to cloud his personal decision to keep DM regardless.
Click to expand...

This is correct. Wellman decided early on the he would be keeping Manning after this season. So he floated the $18,000,000 buyout rumor to provide a justification for keeping Manning. He let everyone one in the AD believe that the buyout number was $18,000,000 so of course it was confirmed by "sources" Only Wellman, Hatch, and a very few others know the actual contract details.
 
Strickland33 said:
RJ, Goodman is right. I have heard it from a few connected folks, some not connected to Wake.

Let us know your sources that have told you otherwise.
Click to expand...

Why would connected folks who are "not connected to Wake" know the actual details? And how do you know your sources didn't just hear it from the same "source" Goodman heard it from, which may or may not be legit?
 
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