How do you figure ISU netted $2.8 million? You don't know if the $2M could have been raised next year to buyout McDermott or not. So since you never had that $2M to begin with you can't just now throw it at another coach.
McDermott Salary tidbit
- Thread starter SnowWhite
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How do you figure ISU netted $2.8 million? You don't know if the $2M could have been raised next year to buyout McDermott or not. So since you never had that $2M to begin with you can't just now throw it at another coach.
I think we will have to be higher than that to get most of the people on the lists I have seen. I think we will have to be over a $1 million, and maybe a $1.2 to $1.5 to get a lot of these guys to even take a look.
You are probably right, so I hope we get lucky on the up and coming coach we will hire for $800K per year.
If you suck at college you may have to suck at your new job, if you know what I mean.
He never said throw 2 million more at the new coach, and "raised" payed out in a buyout is still spent money. In fact, isn't all money "raised"? At the least, there is an opportunity cost associated with that "raised" money that ISU avoided. Furthermore, for ISU to have a new coach, McD must have been fired, thus given this asumption, ISU saved 2.8 million in compared to the alternative in getting a new coach. Therefore, comapred to the alternative, what would have been spent on getting rid of McD in the transtiton, can now be applied to the new coach.
All indications were that we were going to have to let McD go after next season. His buyout at that time was scheduled to be $2M. We received $800K for McD going to Creighton. Therefore we gained .8M and saved 2M which equals $2.8M. I thought it was pretty simple math but maybe not for some. Try Sylvan Learning Center, I hear they work miracles!
