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Manning Buyout Negotiations Have Begun

PhDeac said:
With all this uncertainty, I don't think this is the right time to be looking for a new coach. At the most basic level, we don't know if students will be going back to school in the Summer and if college athletics will resume. There are worst case scenarios of tens of thousands of deaths that could impact players, coaches, and staff.
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It's the best time. Normally great coaches would be busy playing in post-season tournaments. Now they are sitting at home self-quarantined.
 
PhDeac said:
With all this uncertainty, I don't think this is the right time to be looking for a new coach. At the most basic level, we don't know if students will be going back to school in the Summer and if college athletics will resume. There are worst case scenarios of tens of thousands of deaths that could impact players, coaches, and staff.
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With the markets the way the are, it will probably be more difficult to raise the necessary capital anyway. I would also be interested in when the buyout decreases to the next season. If it drops $3MM, on April 1 - just wait it out and save the cash.
 
deacondamo said:
With the markets the way the are, it will probably be more difficult to raise the necessary capital anyway. I would also be interested in when the buyout decreases to the next season. If it drops $3MM, on April 1 - just wait it out and save the cash.
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That's not the way a guaranteed contract works.
 
PhDeac said:
With all this uncertainty, I don't think this is the right time to be looking for a new coach. At the most basic level, we don't know if students will be going back to school in the Summer and if college athletics will resume. There are worst case scenarios of tens of thousands of deaths that could impact players, coaches, and staff.
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on a similar note, I wonder what happens to small private institutions who hope to charge $300,000+ for 4 years of college, when people realize they can get an education remotely for a fraction of the cost, and they may be paying $300k for a remote education anyway
 
thatguy2016 said:
on a similar note, I wonder what happens to small private institutions who hope to charge $300,000+ for 4 years of college, when people realize they can get an education remotely for a fraction of the cost, and they may be paying $300k for a remote education anyway
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Hopefully the bubble bursts and the market realigns before I have to start worrying about college $$ in 6-7 years!
 
thatguy2016 said:
on a similar note, I wonder what happens to small private institutions who hope to charge $300,000+ for 4 years of college, when people realize they can get an education remotely for a fraction of the cost, and they may be paying $300k for a remote education anyway
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Great question.
 
Wake should just disband the basketball program completely in response to a global pandemic, all contracts null and void, all players released from LOI's and commitments. Then when things get back to normal, re-institute the program and announce our first post-apocalypse coach. Let whoever wants to re-commit. Minus all legacy coaching staff, of course.
 
If the Athletic Department declared bankruptcy, they might be able to void contract they choose to.
 
DCDeac said:
Wake should just disband the basketball program completely in response to a global pandemic, all contracts null and void, all players released from LOI's and commitments. Then when things get back to normal, re-institute the program and announce our first post-apocalypse coach. Let whoever wants to re-commit. Minus all legacy coaching staff, of course.
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Oh well, Danny - that's life...
 
I believe it's been established that Manning is owned teh entire $15 million regardless of what year he is fired or leaves. IOW, his buyout does not decrease with each year he serves as coach. Someone please correct me if I am wrong (I know that is very dangerous to say so I'm hiding under my desk awaiting the incoming).
 
DeacsATS said:
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I'm clearly losing my mind over here. Sorry.
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Always nice to see a familiar face.
 
nvadeac said:
I believe it's been established that Manning is owned teh entire $15 million regardless of what year he is fired or leaves. IOW, his buyout does not decrease with each year he serves as coach. Someone please correct me if I am wrong (I know that is very dangerous to say so I'm hiding under my desk awaiting the incoming).
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His buyout declines every time he receives a paycheck.
 
nvadeac said:
I believe it's been established that Manning is owned teh entire $15 million regardless of what year he is fired or leaves. IOW, his buyout does not decrease with each year he serves as coach. Someone please correct me if I am wrong (I know that is very dangerous to say so I'm hiding under my desk awaiting the incoming).
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So Wake owes Manning 15 big ones even if he works through 2023? GTFO of here with that nonsense. He is allegedly owed 3 million per yewar that remains on his contract. It is 5 years at this point thus 15 million.
 
Yeah, it is really nice to see the "French News Babe" back in the midst of all this shit!
 
People seem to be struggling a bit with the buyout v. guaranteed contract thing. NFL players want guaranteed money because it is guaranteed to be paid, regardless as to whether they can play or not (assuming they don't quit).

A buyout is some amount that the coach is owed to buyout the remaining years of his contract. Manning could have a lifetime contract so far as his buyout was $20 and a pair of shoes.
 
If his yearly salary is $3M/year and it's fully guaranteed he gets $3M/year until the end of the contract.
 
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