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Manning Buyout Negotiations Have Begun

SC DEAC said:
solid post, and I'll take a crack at answering this one. This answer is none at all. Our "brand" has already been damaged so severely the last ten years that at the moment we don't have a brand. WFU used to be known as a basketball school and a pretty dang good one at that. Now thanks to Ron Wellman and his slew of mistakes since the day Prosser died, no one outside of old guys know that Wake used to be very solid program.

If we fired Manning/hired Beilen (or other high profile), we MIGHT have a couple articles written immediately afterwards questioning our monetary practices, but 48 hours later, absolutely no one would care. Except we would have a really quality coach leading the way through uncharted waters and don't think that BC and Ga Tech and a host of others would be jealous of our move, even as they rationalized their own lack of moves. Our brand takes absolutely no hit at all if we do this, but it sure would help our brand in the long run. NO ONE, NO ONE would care 2 or 3 years later as we are playing our first NCAA game in ages and our Brand would be rising at every mention of WFU in march madness.
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Huh? Everyone is questioning Wake's financial practices right now, has been questioning them since the DFL contract extension story appeared years ago, and will continue to question them until at least DFL is outta here.
 
I doubt there's litigation coming. There's nothing to litigate unless Wake terminated Manning without paying the buyout (in which case we'd know by now), or unless Manning asked and Wake refused to give assurances that they will honor the contract (which is possible). And even if there were litigation, Currie could talk about it as long as he chose his words carefully.

The more likely scenario IMO is that Wake doesn't know how to get itself out of this mess, can't come up with a solid plan due to COVID-19, and has no idea what to say to fans/alumni, so it says nothing. In other words, business as usual. It would all be forgivable given the virus if there hadn't been so much absurdity that led up to this state of affairs.
 
inspectah said:
I doubt there's litigation coming. There's nothing to litigate unless Wake terminated Manning without paying the buyout (in which case we'd know by now), or unless Manning asked and Wake refused to give assurances that they will honor the contract (which is possible). And even if there were litigation, Currie could talk about it as long as he chose his words carefully.

The more likely scenario IMO is that Wake doesn't know how to get itself out of this mess, can't come up with a solid plan due to COVID-19, and has no idea what to say to fans/alumni, so it says nothing. In other words, business as usual. It would all be forgivable given the virus if there hadn't been so much absurdity that led up to this state of affairs.
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I think this is it.
If Wake had the money to both fire Manning and hire a new coach it would have already happened. it hasn't.
It is clear they did not have the money in hand to do that when the ACC Tournament started.
With what has happened economically they almost certainly do not have the money now.
It amazes me how people think it would be easy to pay out $10-15M and then hire a new coach (and the new coach everyone thinks should be hired would be a $4M/yr hire). Exactly where is all the money coming from for that? You are effectively talking about over $6.5-7M yr just for the HC with an AA that only gets around $60-65M yr in revenue.

Wake is likely stuck with Manning for at least one more year (could be more than that depending upon whether college sports resume). I expect they are simply not going to say anything.
 
To be more complete, I don't believe John Currie has said one word about the status of any coach under contract to Wake. For example, there has ben no announcement that Dave Clawson will be back for the 20 football season if there is one. Clawson is under contract through the 2024 football season. Danny Manning is under contract throuh the 24-25 basketball season.
 
Deaconblue said:
To be more complete, I don't believe John Currie has said one word about the status of any coach under contract to Wake. For example, there has ben no announcement that Dave Clawson will be back for the 20 football season if there is one. Clawson is under contract through the 2024 football season. Danny Manning is under contract throuh the 24-25 basketball season.
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Lol I mean these are substantially different scenarios.
 
Ayo said:
Pretty clear Currie is trying like all hell to get the fucker out of here working under the new circumstances and isn't gonna announce anything until it's either done or all resources and efforts have been expended.

Something will come out on a random Thursday afternoon in like 3 weeks. Move on to something else for the time being, folks.
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From March 25th. Silly me for thinking something like 3 weeks. Maybe we'll hear something in June. See ya then, I guess.
 
Well, there has been specific communication that Clawson is taking a 10% pay cut, implying that we intend to have him continue his current role at 90% contribution indefinitely.
 
CONeill said:
Agreed to no such stipulation.

I'll put it this way: It was a 30-minute phone call and 17 was on the record. Sorry for being coy, but that's really all I can say.
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With a simple yes or no, can you just tell the board whether or not to shut this thread down for a year or so? Or should it still be active?
 
it's possible that there is a performance based clause in the contract that is now being arbitrated quietly. None of us are going to know. What we do know is that one of these is true:
- Currie is insane
- Currie continues to work on getting rid of DM and we'll get information when either he succeeds or fails.

There isn't a third alternative. If he wanted to keep him, he'd have said so by now, unless he's insane.
 
daaberry said:
With a simple yes or no, can you just tell the board whether or not to shut this thread down for a year or so? Or should it still be active?
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Not sure I understand why this thread should ever be shut down.

Where else on the internet are you going to find 3800-plus posts with this range of topics -- Danny Manning, abortion, COVID-19, Trump, etc. -- discussed freely?
 
CONeill said:
Not sure I understand why this thread should ever be shut down.

Where else on the internet are you going to find 3800-plus posts with this range of topics -- Danny Manning, abortion, COVID-19, Trump, etc. -- discussed freely?
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Lots of interesting stuff here; I am no lawyer but I bet one of the biggest reasons nothing has been done yet is that we don't want to be paying 2 coaches when there may not be a basketball season or a scaled down one. If it's less than a regular season just let DM suffer through it while reducing his buyout. I realize we could fire him and wait to get a good coach, but I don't know how that could work with the uncertainty surrounding sports at this time. Of course the ideal situation would be to get some idea of what the scenario will be and if it looks like a regular season is possible then fire DM and pursue a good coach. I don't know the details of the contract, but if the financial terms reduce the amount every month he is here, I can see nothing gained until there is more clarity. Oh hell, what do I know?
 
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Deaconblue said:
A tantalizing tidbit on coaching finances from the WSJ. Head coaches in men's sports combined made a little over $6.5 million in 2018-2019. Per Conor's reporting.

Parse away.

Link

https://www.journalnow.com/sports/college/wfu/state-of-the-department-wake-forest-ad-john-currie-discusses-revenue-expenses-and-what-we/article_cfb4a1b2-e0de-5c5a-8f43-381826a20483.html
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Manning's '18-19 salary is irrelevant since '19-20 salary was his first year under the new extension salary.
 
 
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