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Manning Buyout Negotiations Have Begun

If I am not mistaken, these negotiations are pretty straight forward. Manning would want the money early to invest in shit and make additional capital. Wake wants it off their books in their buyout years almost simply for accounting purposes. That way, in 2022, we can look cleanly to see if basketball is profitable, etc... without having to subtract Manning's buyout money, etc...
 
Really? I love my job, but if my firm paid me 80% of my expected comp over the next 5 years to do nothing, I would take that in a heartbeat.
If I hated my current work environment, I would take far less.

Yes, if he wants to ever position himself for a good head coaching job, he'll need to rebuild his reputation. Sitting on ice for 5 years isn't going to help. Assuming he thinks very highly of his own coaching ability, he'll need 3-4 years back on the bench to be considered for a good job. Does he want to start that rebuild when he's almost 60?
 
If I am not mistaken, these negotiations are pretty straight forward. Manning would want the money early to invest in shit and make additional capital. Wake wants it off their books in their buyout years almost simply for accounting purposes. That way, in 2022, we can look cleanly to see if basketball is profitable, etc... without having to subtract Manning's buyout money, etc...

I'm no accountant, but that really doesn't seem like terribly complicated math.
 
Something is, if he takes another job, he might owe the part of the buyout he's been paid for those years. Remember, he will have already paid taxes on that money.
 
I really hope Manning demands the entire payout. What does the guy get for leading his team to the NCAA tournament in 2017 and wins over UNC and Duke this year? Sad
 
Yes, if he wants to ever position himself for a good head coaching job, he'll need to rebuild his reputation. Sitting on ice for 5 years isn't going to help. Assuming he thinks very highly of his own coaching ability, he'll need 3-4 years back on the bench to be considered for a good job. Does he want to start that rebuild when he's almost 60?

You said "If he doesn't care if he coaches again, he'll stick it to Currie and take the whole term."

My comments are based on that. Why wouldn't he take some percentage less not to have to work 60-80 hours/week?
 
You said "If he doesn't care if he coaches again, he'll stick it to Currie and take the whole term."

My comments are based on that. Why wouldn't he take some percentage less not to have to work 60-80 hours/week?

the choice is not working for WF or taking a lump sum

the choice is:

1. Taking a lump sum and then potentially working elsewhere as he wishes and with no impact to the paid lump sum; or
2. Getting fired, getting paid monthly payments for the term of his contract, and having those payments be offset by whatever he earns coaching somewhere else
 
I'm no accountant, but that really doesn't seem like terribly complicated math.

I wouldn't think so either, but there is something to getting shit "off the books" related to a number of different accounting things. For example, some donors may balk at donating money in the coming years "to pay off goddamn Manning" when really, it is already paid off even if technically, we are still paying him. This just makes that real and in black and white. The money has been raised to "buy out" the contract so give it to him and move on
 
I think they are probably arguing over whether the buy out is in US or Canadian dollars. The contract probably doesn't specify and WFU arguing it's Canadian. I'm sure manning's camp responded with "OK, but in Canada they have universal free health care so I want to be on Wake's group plan for the foreseeable future." Currie might accept that but he is definitely not covering the dental to vision plans. They are close but still a few things to iron out.
 
the choice is not working for WF or taking a lump sum

the choice is:

1. Taking a lump sum and then potentially working elsewhere as he wishes and with no impact to the paid lump sum; or
2. Getting fired, getting paid monthly payments for the term of his contract, and having those payments be offset by whatever he earns coaching somewhere else

RE: #2

But what if the Dems win?

Or if he dies? Will it be like Publisher's Clearinghouse and he'll be able to pass his payments to a friend or family member?
 
I think they are probably arguing over whether the buy out is in US or Canadian dollars. The contract probably doesn't specify and WFU arguing it's Canadian. I'm sure manning's camp responded with "OK, but in Canada they have universal free health care so I want to be on Wake's group plan for the foreseeable future." Currie might accept that but he is definitely not covering the dental to vision plans. They are close but still a few things to iron out.

And if he can get paid in Canadian loons. We know how much Danny likes birds.
 
the choice is not working for WF or taking a lump sum

the choice is:

1. Taking a lump sum and then potentially working elsewhere as he wishes and with no impact to the paid lump sum; or
2. Getting fired, getting paid monthly payments for the term of his contract, and having those payments be offset by whatever he earns coaching somewhere else

Ugh. Like I said before, I was commenting on Atlanta saying Manning would stick it to us and take all the money if he doesn't care if he coaches again. If Manning doesn't care if he coaches again, Wake still has some leverage.
 
It is concerning that after the story leaked from David Glenn, there have been no follow-up stories. Any real estate agents in Winston-Salem on the boards? Need to know if some houses in the New Sherwood area are about to hit the market.
 
RE: #2

But what if the Dems win?

Or if he dies? Will it be like Publisher's Clearinghouse and he'll be able to pass his payments to a friend or family member?

I don't know rj, do you think a millionaire will pay higher or lower taxes under Bernie Sanders then in the current environment?

I'll hang up and listen
 
Ugh. Like I said before, I was commenting on Atlanta saying Manning would stick it to us and take all the money if he doesn't care if he coaches again. If Manning doesn't care if he coaches again, Wake still has some leverage.

ugh indeed

yes, if Manning wants to coach again, then by taking the lump sum, his future coaching won't offset payments from WF (because he will have already received them)

if he doesn't care whether he ever coaches again, then he can take the payments from WF (ALL OF THEM! Not discounted into a one-time lump sum) over the remaining course of his contract, not coaching again, and not caring because he's not earning income from somewhere else and reducing his monthly payment from WF
 
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