I posted this in another thread, but thought I would post it here. There is so much misinformation about how his buyout works. Here are facts about the buyout and what the cost to the university would be if they bought him out.
It’s stated in his contract that it’s paid out over the length of the contract on an annual basis, not one lump sum. Here is how the buyout works out annually:
24/25 - $6.4 million
25/26 - $6.8 million
26/27 - $6.8 million
27/28 - $6.8 million
28/29 - $6.8 million
The 3rd highest paid coach in college basketball is at $6.2 million (Izzo). Let’s say you bring on a coach and pay him $7 million max. That means you owe the following money between Cal’s annual buyout and the new coaches contract:
24/25 - $13.4 million
25/26 - $13.8 million
26/27 - $13.8 million
27/28 - $13.8 million
28/29 - $13.8 million
If you subtract what you’d be paying Cal annually if he remained the coach ($8.5 million in 24/25 and $9.1 million the following 4 years), you would need to come up with this much more money annually than you pay Cal right now in his contract::
24/25 - $4.9 million
25/26 - $4.7 million
26/27 - $4.7 million
27/28 - $4.7 million
28/29 - $4.7 million
In 2022, UK reported athletic department revenue of $159 million and expenses of $153.6 million, meaning they had $5.4 million at the end of the year….
It would not be difficult to get boosters on board for splitting the buyout. They pony up about $2.5 million annually and UK ponies up about $2.5 million ever year.
It is not this impossible thing as some think it is to buy him out and still get a really good coach.
It’s stated in his contract that it’s paid out over the length of the contract on an annual basis, not one lump sum. Here is how the buyout works out annually:
24/25 - $6.4 million
25/26 - $6.8 million
26/27 - $6.8 million
27/28 - $6.8 million
28/29 - $6.8 million
The 3rd highest paid coach in college basketball is at $6.2 million (Izzo). Let’s say you bring on a coach and pay him $7 million max. That means you owe the following money between Cal’s annual buyout and the new coaches contract:
24/25 - $13.4 million
25/26 - $13.8 million
26/27 - $13.8 million
27/28 - $13.8 million
28/29 - $13.8 million
If you subtract what you’d be paying Cal annually if he remained the coach ($8.5 million in 24/25 and $9.1 million the following 4 years), you would need to come up with this much more money annually than you pay Cal right now in his contract::
24/25 - $4.9 million
25/26 - $4.7 million
26/27 - $4.7 million
27/28 - $4.7 million
28/29 - $4.7 million
In 2022, UK reported athletic department revenue of $159 million and expenses of $153.6 million, meaning they had $5.4 million at the end of the year….
It would not be difficult to get boosters on board for splitting the buyout. They pony up about $2.5 million annually and UK ponies up about $2.5 million ever year.
It is not this impossible thing as some think it is to buy him out and still get a really good coach.
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