I have read those words in the BY many times, "We can't afford KO's buyout." And this is usually put at $10m.
But isn't KO's buyout the amount of his compensation package for the next three years -- and hasn't this $10m already been booked and budgeted? KO's $10m is not the cost of the buyout. The cost of the buyout is what we pay the new coach over the next 3 years.
What we can't afford, presumably, is the salary of the new coach on top of the buyout. But who's to say what that salary might be? It might be as little as $4.5m, if we pay the new coach $1.5m a year. Can we afford that? And might we negotiate a settlement with KO where he takes less than $10m? What if KO settled for $5m, and we paid the new coach $4,5m. Wouldn't that yield a net gain for the university of $500k?
That's worth saying again. Might it be possible to negotiate a settlement with KO that when combined with the new coach's salary yields a NET GAIN for the university ; that is, results in UConn paying less than $10m for its men's basketball coach over the next three years?
Maybe. Maybe not. But let's stop saying that the cost of the buyout is the $10m we owe KO.