McDermott Salary tidbit

[SnowWhite]

I heard this directly from an extremely high-level University official: that in fact McDermott's new salary is not the $9 million over 10 years that the Omaha World-Herald originally reported, but in fact $14 million for 10 years. From another individual, (this might be common knowledge and/or already has been posted) apparently the reason that Creighton ended up paying the entire $800K buyout was that if they tried to negotiate it lower, the full terms of McD's new contract would have to be disclosed. As a private Catholic Jesuit school, they don't have to release contract details unless they negotiate them to new terms; then they must be disclosed. The second part I don't know for sure, but it would lead one to believe that the first part is true...

just some food for thought...

 

[mj4cy]

10 years...wow. a lot can happen in that time.

 

[Cydkar]

Say what you want about the contract amount, I'm of the opinion that the length of the contract is what's freaking crazy.

 

[chuckd4735]

Who cares. Hes gone, we don't have to worry about a buyout, and we made 800K in the process!

 

[Spam]

I'd be interested to see his buyout clause. If after 4 years they decide it's not working out...

 

[Frak]

Say what you want about the contract amount, I'm of the opinion that the length of the contract is what's freaking crazy.

Yeah, I think that they're crazy. I think that AD is swimming in water that's a little too deep for him. Things go bad there and that buyout will cost him his job.

 

[AlleyAddict]

I would love to suck at my job and get paid $1.4 mil for ten years

 

[bos]

I would love to suck at my job and get paid $1.4 mil for ten years

Be happy just sucking at yours for what you make. The grass isnt always greener.

 

[cyfanatic]

Can't and won't reveal my source of info...but I was led to believe by someone close to the situation that GMac would be making slightly more money had he stayed at ISU and fulfilled his contract. He negated the money aspect of this situation and said it was a wash.

Due to the first part of my statement above...take it for what it's worth.

 

[AlleyAddict]

Be happy just sucking at yours for what you make. The grass isnt always greener.

haha well I'm in college so I guess I dont have a job to suck at... yet.

 

[bos]

haha well I'm in college so I guess I dont have a job to suck at... yet.

Someday. Stay positive.

 

[khess83]

Who cares. Hes gone, we don't have to worry about a buyout, and we made 800K in the process!

Exactly we netted $2.8M. That is a big deal, and now can afford to pay a new coach a little more. Although I am sure Jamie won't back himself into a corner similar to the way he did with McD.

Best of luck to McD though.

 

[AlleyAddict]

Someday. Stay positive.

A man's gotta have goals

 

[bos]

A man's gotta have goals

Its how I get through!

 

[Wesley]

$14M. He can buy a nice home in Omaha and grin like a Cheshire. This is good CEO money.

 

[chuckd4735]

Exactly we netted $2.8M. That is a big deal, and now can afford to pay a new coach a little more. Although I am sure Jamie won't back himself into a corner similar to the way he did with McD.

Best of luck to McD though.

I'm guessing you will see something in the area of a 5 year, $4 million contract, plus incentives, for the new ISU coach.

 

[Cyclonepride]

I'm going to withhold judgement until Grumpy, Sleepy and especially Doc check in to verify the story.

 

[Wesley]

I'm guessing you will see something in the area of a 5 year, $4 million contract, plus incentives.

Incentives better be more than 15 wins.:notworthy:

 

[AlleyAddict]

Its how I get through!

haha teach me! :notworthy:

 

[Wesley]

Are the signs in the yard still up?