Ollie's Contract | The Boneyard

Ollie's Contract

WhereYouAt said:
Reading his contract it appears to me that if he were to be fired that he would be owed $600k and another $600k in deferred comp. Don't see where it says he would be owed remaining $9.3M but I didn't read the entire contract just skimmed.

Auriemma, Ollie sign extensions with UConn. Read them in their entirety here
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One of the very few times being a Contract Manager has ever crossed into territory I personally/actually take interest in haha. Thanks for sharing the link.

Add sum of amount owed in article 3+6 and he's also owed some previous amount less than $400k which they've been paying off in chunks. So if they fire him June 1, the number is somewhere between $9.4-$9.8M (Add an extra $150k per month if he gets fired before June. i.e if he gets fired end of March, add an extra $300k to what he's owed).
 
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Does anyone know exactly when the extension was given and by whom? I’ve read DB gave it to him but possibly Warde Manuel/Herbst had already approved it. Was there another scare of KO going to the NBA and they wanted to prevent that? Ollie takes a lot of heat here recently, rightfully so, but those responsible for a seemingly unnecessary extension should be called to the carpet as much if not more than him IMO.
 
Warde put the contract in motion and DB finalized it when he got here.
 
Wordbomar said:
Warde put the contract in motion and DB finalized it when he got here.
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Perhaps, though five coaching contract extensions in the first few months does at least have the appearance of a wholesale move.
 
whaler11 said:
This is probably the fifth time we’ve gone down this road.

Sixth time a charm?
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And no one ever agrees on the number even though it's pretty obvious that it's north of $9mm
 
1) The buyout appears to be pretty significant based on recent extension
2) UConn doesn't have a lot of money at the moment to fulfill buyout
3) Ollie deserves to be fired based on his apparent inability to lead a team to respectability
4) Likely would require donors to handle significant buy out
5) If donors don't step up, Ollie is the head coach for foreseeable future
6) If donors do step up, it doesn't make sense to fire Ollie until end of season

That should sum it all up pretty nicely.
 
Storrs South said:
1) The buyout appears to be pretty significant based on recent extension
2) UConn doesn't have a lot of money at the moment to fulfill buyout
3) Ollie deserves to be fired based on his apparent inability to lead a team to respectability
4) Likely would require donors to handle significant buy out
5) If donors don't step up, Ollie is the head coach for foreseeable future
6) If donors do step up, it doesn't make sense to fire Ollie until end of season

That should sum it all up pretty nicely.
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There is one other possible option. Talk him into leaving. He doesn't want to be known as a failure. I doubt he really wants to be in Storrs anymore with his family situation. So encourage him to go find an NBA assistant gig and agree on a smaller buyout if he takes that job. He looks better. We look better. Everybody wins.

In theory we could come up with some "for cause" reason to fire him, but that's a lose lose proposition for everyone.
 
JMick said:
And no one ever agrees on the number even though it's pretty obvious that it's north of $9mm
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It's very obvious, it's spelled right out in the contract. Not sure why people think it's anything different. If he's fired for anything but cause, he's owed the remainder of his contract. Period.
 
uconngb said:
It's very obvious, it's spelled right out in the contract. Not sure why people think it's anything different. If he's fired for anything but cause, he's owed the remainder of his contract. Period.
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Yeah unless we can negotiate a lower number.
 
Once again, a new user starts a dumb thread that’s been gone over a thousand times. Need to pass a tutorial on the search function before you can start a thread.
 
Let's say Ollie were to get fired at the end of the season. Would the money come out of the UConn club fund? I thought I read thats how they paid Diaco's contract. Obviously a lot less money but if thats the case I can see it happening.
 
HuskyHawk said:
There is one other possible option. Talk him into leaving. He doesn't want to be known as a failure. I doubt he really wants to be in Storrs anymore with his family situation. So encourage him to go find an NBA assistant gig and agree on a smaller buyout if he takes that job. He looks better. We look better. Everybody wins.

In theory we could come up with some "for cause" reason to fire him, but that's a lose lose proposition for everyone.
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And the odds of that happening are....??? I'm assuming not good enough that I want to bet on it. That would be a nice option but I don't consider it realistic. There is too much money at stake, even out of respect for how he will be remembered at his alma mater I just don't think it's realistic IMO.
 
Storrs South said:
And the odds of that happening are....??? I'm assuming not good enough that I want to bet on it. That would be a nice option but I don't consider it realistic. There is too much money at stake, even out of respect for how he will be remembered at his alma mater I just don't think it's realistic IMO.
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Maybe Benedict will threaten to go public on Ollie and kill his own career in the process...I'm sure KO would take that seriously...
 
It’s in everyone’s best interest for Kevin Ollie to have a new job lined up when he’s effectively let go. Hopefully Ollie can figure out what his next position will be, and then we can talk the buyout down a bit from there.

It definitely won’t be cheap, but I believe Benedict will figure out a way to get it done. UConn needs a change, and next year is a good chance to do so with multiple players coming off redshirt that have a higher likelihood of sticking around through a coaching change.
 
Storrs South said:
And the odds of that happening are....??? I'm assuming not good enough that I want to bet on it. That would be a nice option but I don't consider it realistic. There is too much money at stake, even out of respect for how he will be remembered at his alma mater I just don't think it's realistic IMO.
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Does it hurt to try? How miserable is he? I really don't know. I'm just saying that if he can land a new job, and we kick in a couple of million, maybe that gets him close to the same money and he moves on rather than destroy his career driving us down the toilet.
 
Stairmaster said:
Maybe Benedict will threaten to go public on Ollie and kill his own career in the process...I'm sure KO would take that seriously...
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What is there to go public about? Unless KO did something scandalous I don't think there is anything to threaten him with, nor should that be the go to option anyway. As far as I can tell he's good guy, who played here, was the coach in 2014 (his players or not), and probably still cares about the university. He somehow overcame a postseason ban and now can't win with the best recruits in the conference. It doesn't make sense and am just resigned to the whole situation.
 
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