Decision To Fire Bob Diaco, Staff Cost UConn More Than $5.3 Million (M. Anthony)

[huskymedic]

Decision To Fire Bob Diaco, Staff Cost UConn More Than $5.3 Million

>>Diaco, UConn's coach for three seasons in 2014-16, walked away with $3,563,701, which includes a $3.4 million severance payment and a pro-rated retention bonus he was due of $163,701. The total cost to the university reached $4,329,987 when fringe costs (benefits, mostly) were factored in. Fringe costs totaled $766,196.

Additionally, 13 program assistants on staff under Diaco were paid a combined severance of $641,786. With fringe costs factored in, the cost of the 13 assistants reached $1,041,189.

Combined, the cost of firing Diaco and severing ties with his staff totaled $5,371,176.<<

Courant Comment Section should be gold!

 

[Urcea]

worth every penny

 

[Da_Aisijimo_Gou]

... and the possible higher costs to the University of Connecticut and Huskies' football and athletics of continued inaction ...

 

[Jimmy Serrano]

Worth every penny.

 

[J187Money]

That’s the wrong way to look at it. He was making 2 a year. Edsall makes 1. So over the 5 year period it is a wash on comp, and the program won’t be destroyed.

It is a net plus.

 

[CL82]

Worth every penny.

"Why is firing Bob Diaco so expensive? Because it's worth it."

 

[Skiblets]

Sighhhhh. Always a disaster when journalists try to interpret financial statements.

 

[Jax Husky]

Worth every penny.

Not a dime back

 

[BlueDogs]

Everything wrong with college coaching is summed up in Diaco. The guy fails miserably at one job and walks away with a big payday. Goes to another place and fails and walks away with second payday. He's a damn check collector.

 

[J187Money]

Any move made with Ollie has to be looked at the same way. If you think you can do better at half the price (not saying that is easy but a mid-major coach on the come up could work) you could soften the blow.

 

[noeynox]

The problem there was the extension.

UConn needs to get out of the expensive buyout business. We now have our second disastrous buyout nightmare on our hands and don't have the money to pull it off. We can pay top money but not should not tie a noose around our necks with buyouts. If a good coach wants to walk let him go. At the very least save those for guys who have proven themselves over time. That a 6-7, season brought upon that extension is ludicrous.

 

[TRUCONN76]

Decision To Fire Bob Diaco, Staff Cost UConn More Than $5.3 Million

>>Diaco, UConn's coach for three seasons in 2014-16, walked away with $3,563,701, which includes a $3.4 million severance payment and a pro-rated retention bonus he was due of $163,701. The total cost to the university reached $4,329,987 when fringe costs (benefits, mostly) were factored in. Fringe costs totaled $766,196.

Additionally, 13 program assistants on staff under Diaco were paid a combined severance of $641,786. With fringe costs factored in, the cost of the 13 assistants reached $1,041,189.

Combined, the cost of firing Diaco and severing ties with his staff totaled $5,371,176.<<

Courant Comment Section should be gold!

The savings from what they would have paid Diaco compared to what they paid Edsall over two years pretty well offset that number. Any anyone who thinks Edsall would have taken the deal offered him if nothing was owed Diaco on the buyout is smoking something. Edsall was happy to come back and willing to play ball on salary given the circumstances. I credit Dave Benedict for coming up with a creative plan to bounce Diaco at a net affordable price.

 

[CL82]

The problem there was the extension.

UConn needs to get out of the expensive buyout business. We now have our second disastrous buyout nightmare on our hands and don't have the money to pull it off. We can pay top money but not should not tie a noose around our necks with buyouts. If a good coach wants to walk let him go. At the very least save those for guys who have proven themselves over time. That a 6-7, season brought upon that extension is ludicrous.

And don't payoff the buyout lump sum, face value. Do it over time or at a discounted lump sum figure.

 

[BlueDogs]

The problem there was the extension.

UConn needs to get out of the expensive buyout business. We now have our second disastrous buyout nightmare on our hands and don't have the money to pull it off. We can pay top money but not should not tie a noose around our necks with buyouts. If a good coach wants to walk let him go. At the very least save those for guys who have proven themselves over time. That a 6-7, season brought upon that extension is ludicrous.

Yup- I'd rather overpay on a performance incentive bonus than guarantee pay for mediocrity. You want to make 2 million bucks? Win some games...

 

[VAHuskyFan]

Yup- I'd rather overpay on a performance incentive bonus than guarantee pay for mediocrity. You want to make 2 million bucks? Win some games...

This x 1000. I want the coach that is focused on bonus incentives and negotiating for more money if he finishes in the Top 25, racks up postseason wins, etc. That’s a coach that is confident he can do the job.

If a coach instead says “Look, the contract amount seems fine, but let’s say, hypothetically, that I drive the program into the ground over the next two years - I need an assurance that I’ll still get paid even after you fire me,” that’s a coach I don’t want anything to do with. He’s basically telling you he isn’t sure he’s up to the job!

 

[Redding Husky]

We had no choice in firing Diaco.

I really think if I had chosen to spend 30+ years in coaching (instead of 30+ years in insurance), I could have been better than a Diaco.

 

[Chief00]

Additionally, 13 program assistants on staff under Diaco were paid a combined severance of $641,786. With fringe costs factored in, the cost of the 13 assistants reached $1,041,189.!

This just summarizes the problem the state of CT has - look at the fringe benefits costs - $400k on $641k of salary severance.

 

[whaler11]

This just summarizes the problem the state of CT has - look at the fringe benefits costs - $400k on $641k of salary severance.

That is the interesting part. What are the components of that?

 

[formerlurker]

Less than 5 minutes after the events in the video in this link is when the decision should have been made.

UConn just painted the Mona Lisa of terrible late-game clock management

 

[Chief00]

That is the interesting part. What are the components of that?

I don’t know the exact breakdown but start with Retirement and Health Costs.

 

[formerlurker]

I don’t know

 

[uconnfan68]

Everything wrong with college coaching is summed up in Diaco. The guy fails miserably at one job and walks away with a big payday. Goes to another place and fails and walks away with second payday. He's a damn check collector.

Not any more.

 

[Woof 101]

The cost Mike writes of only scratches the surface. What of the lack of recruiting which had already taken a step down under Paul. Not attacking Mike but ticket sales and all things football should be thrown in here also. This would make the loss much more than what it cost to buy out Bobbie Disaster & his staff.....

 

[Chin Diesel]

This x 1000. I want the coach that is focused on bonus incentives and negotiating for more money if he finishes in the Top 25, racks up postseason wins, etc. That’s a coach that is confident he can do the job.

If a coach instead says “Look, the contract amount seems fine, but let’s say, hypothetically, that I drive the program into the ground over the next two years - I need an assurance that I’ll still get paid even after you fire me,” that’s a coach I don’t want anything to do with. He’s basically telling you he isn’t sure he’s up to the job!

This x 1000.

Successful people don't worry about putting golden parachutes/hand shakes int to contracts because they know they will succeed.

 

[huskymedic]