ADB on Hurley Hiring

[intlzncster]

"Instead of giving Hurley ways to leave, this contract is giving him ways to stay. That, coupled with the huge buyouts on both sides, strikes me as a deal made by someone who doesn’t want to go anywhere any time soon, and would certainly give credence to Hurley’s statements that UConn is a destination job for him. Having the chance to extend this contract to up to 12 years, and to have bargained for that, doesn’t seem like the move of someone who is looking to hop to the next big P5 job opening."

Dunno why, but when Hurley said yes, I had zero fear he might leave for another job (much less than KO) if he's highly successful. I hope he is. We'll see.

 

[J187Money]

It's still stunning to me that people thought Ollie's buy out and then affording a really good coach wasn't going to happen. Whether anyone wants it to stay that way or not - the basketball program is an integral piece to the University an the state's identity. To let it just wither and die because of a buy out - and leave all that potential revenue on the table - is far more irresponsible.

It's been an incredibly well funded state university and national brand for some time. If the money isn't in the athletic budget - it's somewhere. And I told you that they'd find it. Which they did. Ollie's contract was peanuts in the big picture.

I say it all the time. I will believe there is no money when there is actually no money.

 

[Towney007]

I say it all the time. I will believe there is no money when there is actually no money.

It's not a bottomless reservoir of cash, but the school receives $1.2 BILLION in funding every *year*. It got 'cut' to 'only' $1 billion. Yes that has an effect on some things, but the school is also pretty self sustaining in other ways - from tuition, fees, etc. $3 million to hire a basketball coach of a team that's your primary marketing tool and $10 million to make sure the other one doesn't totally ruin it is not crippling UConn.

 

[husky8273]

"Google's your friend bruh" - Jay Z

UCONNHUSKIES.COM :: University Of Connecticut Official Athletic Site University Of Connecticut Official Athletic Site - UConn Club

that's an old link - here's the current link:
UCONNHUSKIES.COM :: University Of Connecticut Official Athletic Site University Of Connecticut Official Athletic Site - Husky Athletic Fund

 

[CCSU97]

I thought it was already made pretty clear that the CCSU taxpayer dude was paying for Hurley's salary.

A few of you still need an education in public finance 101. As multiple media and school reports indicate, UCONN athletics is heavily subsidized by the State of Connecticut taxpayers.

Almost $30 million a year in direct State funding is in ADDITION to private fundraising, student fees, and ticket and other revenues. All the numbers are out there for you too see, but some of you want to have your own narrative - that's fine.

The University of Connecticut spent $27.2 million last year subsidizing its sports teams and programs – the third highest amount in the nation among public schools with Division 1 sports teams. Only Rutgers University and James Madison University subsidized athletics more, a review released Monday by the Chronicle for Higher Education found.

USA Today routinely ranks UConn’s subsidies among the highest in the nation. (Read more about that here.)

The athletic department’s budget has steadily increased over the years, from $17 million in 1995 to $72 million in fiscal 2015. Football has the largest budget ($15 million) followed by men’s basketball ($9 million) and then women’s basketball ($7 million). Just under one-fifth of the department’s budget covers athletic scholarships.

The state of UConn in 16 charts - The CT Mirror​

 

[JMick]

A few of you still need an education in public finance 101. As multiple media and school reports indicate, UCONN athletics is heavily subsidized by the State of Connecticut taxpayers.

Almost $30 million a year in direct State funding is in ADDITION to private fundraising, student fees, and ticket and other revenues. All the numbers are out there for you too see, but some of you want to have your own narrative - that's fine.

The University of Connecticut spent $27.2 million last year subsidizing its sports teams and programs – the third highest amount in the nation among public schools with Division 1 sports teams. Only Rutgers University and James Madison University subsidized athletics more, a review released Monday by the Chronicle for Higher Education found.

USA Today routinely ranks UConn’s subsidies among the highest in the nation. (Read more about that here.)

The athletic department’s budget has steadily increased over the years, from $17 million in 1995 to $72 million in fiscal 2015. Football has the largest budget ($15 million) followed by men’s basketball ($9 million) and then women’s basketball ($7 million). Just under one-fifth of the department’s budget covers athletic scholarships.

The state of UConn in 16 charts - The CT Mirror​

lol why are you even here?

 

[Guapo]

A few of you still need an education in public finance 101. As multiple media and school reports indicate, UCONN athletics is heavily subsidized by the State of Connecticut taxpayers.

Almost $30 million a year in direct State funding is in ADDITION to private fundraising, student fees, and ticket and other revenues. All the numbers are out there for you too see, but some of you want to have your own narrative - that's fine.

The University of Connecticut spent $27.2 million last year subsidizing its sports teams and programs – the third highest amount in the nation among public schools with Division 1 sports teams. Only Rutgers University and James Madison University subsidized athletics more, a review released Monday by the Chronicle for Higher Education found.

USA Today routinely ranks UConn’s subsidies among the highest in the nation. (Read more about that here.)

The athletic department’s budget has steadily increased over the years, from $17 million in 1995 to $72 million in fiscal 2015. Football has the largest budget ($15 million) followed by men’s basketball ($9 million) and then women’s basketball ($7 million). Just under one-fifth of the department’s budget covers athletic scholarships.

The state of UConn in 16 charts - The CT Mirror​

Why does CCSU even have sports?

 

[Da_Aisijimo_Gou]

lol why is (ccsu97) even here?

Lonely? Lost? Rejected by UConn circa 199x? Seeking score of today's baseball win: Connecticut 6 Nowego Brytania Zentral Kolegium 1?

 

[Stainmaster]

A few of you still need an education in public finance 101. As multiple media and school reports indicate, UCONN athletics is heavily subsidized by the State of Connecticut taxpayers.

Almost $30 million a year in direct State funding is in ADDITION to private fundraising, student fees, and ticket and other revenues. All the numbers are out there for you too see, but some of you want to have your own narrative - that's fine.

The University of Connecticut spent $27.2 million last year subsidizing its sports teams and programs – the third highest amount in the nation among public schools with Division 1 sports teams. Only Rutgers University and James Madison University subsidized athletics more, a review released Monday by the Chronicle for Higher Education found.

USA Today routinely ranks UConn’s subsidies among the highest in the nation. (Read more about that here.)

The athletic department’s budget has steadily increased over the years, from $17 million in 1995 to $72 million in fiscal 2015. Football has the largest budget ($15 million) followed by men’s basketball ($9 million) and then women’s basketball ($7 million). Just under one-fifth of the department’s budget covers athletic scholarships.

The state of UConn in 16 charts - The CT Mirror​

I don't think you understand - Dan Hurley's contract will be funded by siphoning money directly from your personal savings account.

 

[Chief00]

You know what this athletic department could use?

How about some transparency on how the state funds paying an employee 3 million a year?

You’d think such talented administrators wouldn’t be reduced to ‘pushing back’ against unpaid bloggers.

Why don’t the taxpayers deserve to know the sources of revenue?

If A Dime Back’s reporting is wrong why doesn’t the school show us the math.

Since they do work for us and all.

It’s the gag order that I followed, but got criticized for following by the usual Casuals.
Again. What don’t people understand about being in litigation situation.

 

[Chief00]

The position that someone here is arguing that tax paying citizens of the state shouldn't know at a very specific level how UConn funded Hurley + potentially paying a buyout is silly but not shocking.

Let’s theorize there is third party involvement. Just saying need to look at full picture not just Hurley’s 2018 salary which is less than KO’s.
That’s about as far as I can go.

 

[Chief00]

A quick Google search reveals the following UConn salaries paid by state funds for 2017:
Geno Auriemma - $400, 233.00
Kevin Ollie: $398, 242.00
Randy Edsel: $373,230.00

Total salaries:
Auriemma - $2,280.000.00 per year
Ollie: $3,000,000.00 per year
Edsel: $1,000.000.00

Thank you. This being paid by the tax payer narrative is beyond silly. If someone wants to help out, they have a right to privacy when legally possible.
I told everyone a couple weeks before the firing there was money to do what needed to be done with the expectation the $10 million buyout would be negotiated downward. That’s about as much detail as I will provide.

 

[polycom]

Let’s theorize there is third party involvement. Just saying need to look at full picture not just Hurley’s 2018 salary which is less than KO’s.
That’s about as far as I can go.

All you do is talk nonsense. You’re not connected to the program stop pretending like you. How have we gotten to this point where this is acceptable?

 

[CCSU97]

lol why are you even here?

Why do you and others attack the messenger, instead of trying to argue with the message? Probably because you don't understand the argument.

FUNGIBILITY

UConn Subsidies For Sports Teams, Programs Rank Third In Nation

In FY 2015, UConn spent a total of $71.5 million on athletics (operational costs only - does not include capital expenditures like Gample roof replacement, etc.).

That same year, $27.2 million of "revenue" that was in the form direct State appropriations (the remaining $44.3M came from student fees, private donations, and ticket/media/merchandise/NCAA revenues)

Therefore, approximately 38% of the athletic budget was in the form of a taxpayer subsidy. There is no "lock box" - $0.38 of every dollar spent by the athletics department is from the State of Connecticut.

Many UConn poster have also raised the very real question about how UConn expects to maintain increasing expenditures with shrinking non-State forms of revenue. It is a reality many of you choose to ignore. The State isn't going to keep dumping millions of dollars into the UConn, while the AThletic Department keeps buying out huge contracts. Suggesting that private donors are fully covering the costs of these multi-million dollar coaching contracts ignores the fact that on the whole the State is sinking more direct appropriations into the Athletic Department each year while facing massive fiscal issues.

 

[Chief00]

All you do is talk nonsense. You’re not connected to the program stop pretending like you. How have we gotten to this point where this is acceptable?

You don’t know who I am. My track record speaks for itself. Yours, not so good.

 

[polycom]

You don’t know who I am. My track record speaks for itself. Yours, not so good.

Chief if you are who you say you are I would have run into you between 2012-2014. 100%. If you're poser at worst and a Drummond groupie at best. No one cares or at least I don't.

 

[browndog319]

The use of the word “subsidizing” is stupid. In the year 2000, by the words of our own esteemed university, applications TRIPLED from 12K per year to now 36K per year. They charge $80/application, regardless of whether you get in... what crazy thing made applications from all 50 states sore in 2000??? Oh, that’s right, the MEN winning in 1999.

So, the men’s basketball team alone has caused over $50M in application fees to come into the university. Just think about that mind boggling number - it’s more than just ticket sales and merchandising. It’s all of those applications. And the kids who pay out of state tuition because now we’re a top 20 public university. But yeah, the school subsidizes athletics. We need sports to do well. It’s good for everyone.

 

[Chief00]

Here is the math on how the new men's basketball coach will be paid.

Ollie's pay was higher than many have been talking about. Here is his pay per season:

2016/2017: $3.1 million (plus deferred compensation and perks)
2017/2018: $3.2 million
2018/2019: $3.3 million
2019/2020: $3.6 million
2020/2021: $3.7 million

Let's compare it to Hurley's salary:

2018/2019: $2.75 million
2019/2020: $2.85 million
2020/2021: $2.95 million
2021/2022: $3.05 million
2022/2023: $3.15 million
2023/2024: $3.25 million

So, over the next 3 years, UConn will be saving ~$2.05 million in head coaching salary.

The next questions are how big is the buyout with Ollie and how long will you stagger the payments?

First, I'm not going to render an opinion on the "termination for cause" in Ollie's contract, but the contract language is pretty loose, so I would think Ollie would settle. Also, the contract does say that the payment schedule is negotiable.

Let's assume that Ollie and UConn reach an agreement to pay Ollie $5 million, which is about half of what he possibly could get. Then, let's assume that UConn will pay him over 5 years, or $1 million per year.

Under my scenario, the cost of firing Ollie will add over the next 3 years (Difference in salary between Ollie and Hurley plus the cost of the buyout):

2018/2019: $450k
2019/2020: $250k
2020/2021: $250k

These are not very large numbers and the cost should more than be made up with ticket sales, donations, and NCAA credits.

If this is the scenario that Benedict is using, there was no need for "donors" to step up to fund firing Ollie.

Thanks for doing such a good job on illustrating the salary comparisons, which backs up what I was saying. UConn saves $2 million over the next three years. Where I differ is I fully expect the school to pay a partial buyout for KO, not perhaps because it has to but because it will be in everyone’s interest to settle this.
So in your analysis - taking a 3 year view - shows we have an automatic $2 million offset. If we settle in the $4 million range - there are ways to source the difference. Donors don’t want their name attached to this litigation but nothing is stopping a donation for another reason or with no strings attached.

 

[Chief00]

Chief if you are who you say you are I would have run into you between 2012-2014. 100%. If you're poser at worst and a Drummond groupie at best. No one cares or at least I don't.

You have a very narrow 2-3 year window and don’t seem to comprehend the concept between using ones name vs a handle name. At any rate, it seems your self identified 2012-2014 involvement coincides with Calhoun leaving coaching and the start of the Diaco era. Your trajectory is clear. Chief knew Geno before he was famous and Jim before he had enough of players to have a 5 on 5 practice. So Chief participated and the rest is history.

 

[BlueMAB]

You don’t know who I am. My track record speaks for itself. Yours, not so good.

Drummonnd says hi.

From Detroit.

 

[polycom]

You have a very narrow 2-3 year window and don’t seem to comprehend the concept between using ones name vs a handle name. At any rate, it seems your self identified 2012-2014 involvement coincides with Calhoun leaving coaching and the start of the Diaco era. Your trajectory is clear. Chief knew Geno before he was famous and Jim before he had enough of players to have a 5 on 5 practice. So Chief participated and the rest is history.

You're delusional.

 

[Chief00]

Drummonnd says hi.

From Detroit.

He’s a good dude. Does a lot of generous stuff that people don’t know about.

 

[Ewekon]

Why do you and others attack the messenger, instead of trying to argue with the message? Probably because you don't understand the argument.



FUNGIBILITY

UConn Subsidies For Sports Teams, Programs Rank Third In Nation

In FY 2015, UConn spent a total of $71.5 million on athletics (operational costs only - does not include capital expenditures like Gample roof replacement, etc.).

That same year, $27.2 million of "revenue" that was in the form direct State appropriations (the remaining $44.3M came from student fees, private donations, and ticket/media/merchandise/NCAA revenues)

Therefore, approximately 38% of the athletic budget was in the form of a taxpayer subsidy. There is no "lock box" - $0.38 of every dollar spent by the athletics department is from the State of Connecticut.

Many UConn poster have also raised the very real question about how UConn expects to maintain increasing expenditures with shrinking non-State forms of revenue. It is a reality many of you choose to ignore. The State isn't going to keep dumping millions of dollars into the UConn, while the AThletic Department keeps buying out huge contracts. Suggesting that private donors are fully covering the costs of these multi-million dollar coaching contracts ignores the fact that on the whole the State is sinking more direct appropriations into the Athletic Department each year while facing massive fiscal issues.

The state is grossly mismanaged from the governor on down.