Cal buyout is easily doable according to this guy
- Thread starter HagginHall1999
- Start date
Let's do it! Time to shit or get off the pot. Even if he does get another job to offset the contract or they pay it throughout the rest of the deal, it's time! You can find cheaper coaches who would be outperforming Cal over the course of these last 5 years. Especially when someone like Scott Drew is only the 17th highest paid coach. They are out there. You people that are stuck on past glory of Cal when he got here need to accept the reality that the game has passed him by. That Cal that who was driven and motivated to win in '09 coming here is gone!
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If UK wants Cal gone, 33 million won’t stop it from happening. I think it’s a situation where Mitch is hoping Cal leaves on his own or they’re both gonna sit back for a few weeks and weather the storm. Like I’ve already said, if Cal is here Monday morning I doubt he’s leaving at all.
Oh I think Mitch hopes it blows over because that contract ties him at the hip to Cal.
Have we tried offereing half of that and the rest in lottery tickets?
This is not what I want to be true, so I refuse to believe it.
Maybe we do, maybe we don't. But just renovated Memorial. Just built a new track facility. I'm guessing baseball stadium wasn't paid all cash down. Don't know if any UK money went to Rupp. There's a lot of money tied up in real estate so who knows if it situation is the same as other schools.
As much as the lifetime contract seems like a terrible idea in retrospect, shout out to Barnhart and the UK lawyers for having the provisions in there to pay out over time and have the total reduced if Cal takes another job.
Big dollar millionaire and billionaire boosters need to step up and pay the $33 million - pocket change
I'd imagine that would be illegal somehow. Like trying to subjugate a contract by fraud or something.
Offer him $5 million now and to give the rest to Ohtani's interpreter so he can turn it into $100 million.
No he can’t. There’s a provision in the contract the prevents that.
If Calipari tried to sign a deal for $1 with UCLA, UK is allowed to reduce his buyout by what they believe to be the reasonable market value of the salary for that position.
Do you think billionaires eager to buy out coaches grow on trees?
Easier said than done.
Joe Craft paid five million dollars for a ham at the state fair just saying.
I posted this earlier in the season and feel it’s appropriate to post here:
It’s stated in his contract that it’s paid out over the length of the contract on an annual/monthly 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 $6 million max. That means you owe the following money between Cal’s annual buyout and the new coaches contract:
24/25 - $12.4 million
25/26 - $12.8 million
26/27 - $12.8 million
27/28 - $12.8 million
28/29 - $12.8 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 - $3.9 million
25/26 - $3.7 million
26/27 - $3.7 million
27/28 - $3.7 million
28/29 - $3.7 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 $1.9 million annually and UK ponies up about $1.9 million ever year.
And those numbers are all under the assumption that Cal doesn’t get another job and there is not a negotiated buyout.
It’s stated in his contract that it’s paid out over the length of the contract on an annual/monthly 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 $6 million max. That means you owe the following money between Cal’s annual buyout and the new coaches contract:
24/25 - $12.4 million
25/26 - $12.8 million
26/27 - $12.8 million
27/28 - $12.8 million
28/29 - $12.8 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 - $3.9 million
25/26 - $3.7 million
26/27 - $3.7 million
27/28 - $3.7 million
28/29 - $3.7 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 $1.9 million annually and UK ponies up about $1.9 million ever year.
And those numbers are all under the assumption that Cal doesn’t get another job and there is not a negotiated buyout.
The article linked in the tweet is most likely dead accurate. The optics of a public university paying a basketball coach $35 million to leave are awful. And he lays out quite clearly how there are other priorities for the university as a whole right now. I really think the only way we have a new coach next year is if Cal leaves himself.
Alien remains from Roswell are stored in the basement of the Patterson Office Tower. Sell one or two and you got buyout money plus the down payment for an on campus arena
There have been multiple reports that Craft has no interest in paying that buyout.
People have always been caught up in the big number as if UK decided to move on it would immediately have to cut him a check for the totality.
I think there was some language in Cal's contract about a pretty nice retirement plan once he was done. Someone may want to go fishing and see, I'm not totally certain but kind of recall reading and hearing about the retirement set up Cal was going to get should he finish out his contract and career here.
Basically, just tell him he'll get his full 20+ year retirement if he f8cks off early and plays ball on his way out.
I think there was some language in Cal's contract about a pretty nice retirement plan once he was done. Someone may want to go fishing and see, I'm not totally certain but kind of recall reading and hearing about the retirement set up Cal was going to get should he finish out his contract and career here.
Basically, just tell him he'll get his full 20+ year retirement if he f8cks off early and plays ball on his way out.
If Calipari were to be fired and then hired by a school like Michigan or UCLA, how much do you think those schools might pay him per year?
Unless you know that's 100% happening you have to assume the full buyout will need to be paid. He could pull a Jay Wright for all we know.
Dont forget that if cal takes any job...and that includes a TV analyst or radio analyst job........ the amount he makes there is subtracted from what we owe him . So unless he wants to just sit back and do nothing......... we wont be paying him the full amount every year anyways.
Based on performance, he isn’t owed a damn dime. Fire his ass for cause and forget about it. He should embarrassed every time he gets a check. Sorry excuse, just get his ass out of here
Do you believe that Cal is going to walk away after being fired?
While anything’s possible, I don’t believe that would happen. I think his pride would be bruised and he’d have a bit of chip on his shoulder.
But his decision to go the TV route would be a possible scenario UK would have to weigh in deciding whether to pull the trigger. Him doing TV for 5 years would probably be worst case scenario in terms of buyout amount.
If however, he takes another Power 5 job, then the most likely scenario is that the buyout drops to $0.
Each SEC school received $51 million from the SEC this year. Last year, I believe it was around $43 million. If this money is earmarked for the athletic department, then the money is there for UK to pull the trigger. And if the buyout is to be paid out over 5 years, for example, then you are looking at a tad over $6 mil a year going to COW. Also, the SEC dollars to each school will probably increase every year.
I think all of us on this forum would like to hear from anyone that may have more information.
I think all of us on this forum would like to hear from anyone that may have more information.
Biggest problem as I've heard it is the $ people don't want Barnhart either. So his pleas for help are falling on deaf ears because they view him as part of the problem too. Which I also happen to agree with.
Don't blame them. He made this mess. I sure don't trust him to fix it.
If not for his ego, TV makes by far the most sense for Cal. Work a very limited amount, no pressure, he loves talking(if he’s not losing), and due to this buyout he’d guarantee himself 6+M each year to do it.
Ben Roberts (Lex Herald leader) updated his Calipari buyout story late tonight ...
"Others with direct knowledge of the situation said later Friday afternoon that there have been preliminary talks exploring the possibility of a buyout involving the Crafts."
"Others with direct knowledge of the situation said later Friday afternoon that there have been preliminary talks exploring the possibility of a buyout involving the Crafts."
If Craft wants him gone he will be gone. Cal will have to decide if he wants the embarrassment of being fired or the Michigan job.
My money is on him leaving for Michigan. Really sad and unfortunate how this is going to end either way. Guy gave us a really great 10 year run but something has changed significantly.
There is no way he is here next year. There is a poll on wkyt and it is something like 80% to get a new coach. He will be miserable here.
UKBB just needs a fresh start.
My money is on him leaving for Michigan. Really sad and unfortunate how this is going to end either way. Guy gave us a really great 10 year run but something has changed significantly.
There is no way he is here next year. There is a poll on wkyt and it is something like 80% to get a new coach. He will be miserable here.
UKBB just needs a fresh start.
Why don’t you post the entire quote???
“If the university can’t pay Calipari to leave, why not the athletics department’s biggest donors? Why wouldn’t, say, coal magnate Joe Craft, who was sitting courtside in Pittsburgh on Thursday night, and his wife Kelly write a check for $33 million to see change within the program?
Multiple people familiar with the situation told the Herald-Leader in the immediate aftermath of Kentucky’s loss to Oakland that there’s no way Craft, specifically, would do such a thing.”
The longer this drags on, the more messy it will become. You already have a AD who has no relationship with the head basketball coach and now he may have to negotiate (through lawyers) with Calipari (and his lawyer) for a buyout? If those negotiations stall or become derailed that means Calipari is here another year and that would indeed be a toxic situation.
And don't for a moment think that someone as vindictive and petty as Calipari wouldn't make it as painful as possible for UK, Barnhart and the fanbase before finally slithering out of town.
And don't for a moment think that someone as vindictive and petty as Calipari wouldn't make it as painful as possible for UK, Barnhart and the fanbase before finally slithering out of town.
That money is not earmarked for the athletic department. It goes to the university itself. The budget for this year is here.
I've said it a million times today, but finding this buyout money is not going to be a priority right now given the larger mission of the university. The basketball team made the school a little over $9 million. The university got over $500 million in research grants. UK Healthcare had revenue of almost $4 billion. Tuition brought in about $600 million. Those three are the main purpose of the University and where the priorities lie. That's what the Board of Trustees and Capilouto really care about.
For Cal to be fired there are two options. The Crafts pony up the cash after just donating $7.5 million for Nutter Field House renovations or Cal works with the school on a lower buyout and takes another job that offsets it quite a bit. If those two things don't happen this just isn't going to be a priority for a University that has a mission to advance education and healthcare within the state.
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