So I guess our APR is only a little better than it would be if every single one of Manning's transfers had flunked out instead of transferring. But, if a couple of them had been great players before they flunked out . . .
I understand WF/Currie's strategy if WF did fire Manning for "cause".
Most importantly, this delays the timing of the buyout payment. So, by the time the buyout is resolved through the dispute process, WF will likely be in a better position to pay it.
Manning now has to start incurring his own attorneys fees which bites into his payout (unless there is a prevailing party clause allowing Manning, or WF, to recover their fees if they are forced to sue to enforce the agreement). Once Manning starts getting a monthly bill from his counsel, he may be more willing to compromise on the buyout. Even rich people hate paying attorneys and their ridiculous hourly fees.
There must be some semi-viable argument that Manning violated a term of his contract (APR is more likely than the Jones manslaughter issue, but WF is likely to throw the kitchen sink if this gets arbitrated/litigated), but it's probably a loser for WF if this goes to the a final decision by a court or an arbitrator.
If there's an arbitration clause, there is at least a chance that WF can keep details out of the public domain.
The end-game strategy is probably to reach a settlement with Manning at an amount lower than the buyout and which WF can pay over time. Manning wasn't going for that so this is an attempt to leverage that position.
These are the types of decisions that for profit companies make all of the time, but not the types of decisions that WF makes. Definite change in philosophy, and I kind of dig it.
With that said, WF will have a strong incentive to settle, because this is a bad look among the basketball fraternity. Everyone knows that WF pulled the trigger on Manning because the team sucked and for no other reason, and that is not a "cause" for firing under the spirit of the agreement.
As others have said the time, money, and effort is being spent to throw his ass out the door and pay him down the road while affording the opportunity to get a new coach in the door.
Manning is going to get paid. Only a school like Wake which produces a shit ton of lawyers would spend a lot of time speculating about for cause/litigation judgment interest rates/arbitration clauses/forum selection. We’re paying the shitty ex-basketball coachfor Wellman’s malfeasance and the BOT’s lay down and take it attitude. Fuck Ron Wellman.
Currie confirmed it.RJ says the buyout was only $75 anyway.
What eveidence is there that Manning did anything other than sit there and wait to get fired in a perfectly reasonable way ? He stated that he was still the coach and expected to be back, which is what you would expect him to do, considering he was still under contract.
I really wish Wellman would cough up a few million for DM’s buyout. That would make me despise him a tiny, tiny bit less.
What eveidence is there that Manning did anything other than sit there and wait to get fired in a perfectly reasonable way ? He stated that he was still the coach and expected to be back, which is what you would expect him to do, considering he was still under contract.
Buyout was negotiated to 7.5 mill
He said that was half on the other thread.From what number initially?
He said that was half on the other thread.
From what number initially?