https://theathletic.com/2930339/202...that-includes-retaining-manny-diaz-right-now/
“Money will not be an issue,” a source said.
Frenk is not a huge sports fan, but he recognizes its importance to Miami’s overall image and wants to make the football program elite. That means, for example, winning the Coastal Division eight out of every 10 years, and the conference a handful of times a decade, a source said.
“There’s no reason we can’t win the division almost every year,” the source said.
Miami has played in the ACC Championship only once (2017) since joining the conference in 2004, and has never spent more than $4 million a season on its head football coach (former coach Mark Richt).
Miami would owe current coach Manny Diaz at least a percentage of what’s left on the final two years of his five-year contract (roughly $8 million) if he’s fired at the end of the season. Plus, the school would be on the hook for what is owed to his assistants — many of whom are on multiyear deals.
Between letting Diaz and his staff go, and hiring a new one, Miami could spend upward of $15 to $20 million to make changes. Again, the source said: “Money will not be an issue.”
Why? Miami’s UHealth program has made enough profit to help cover some bills. When Miami operated under Shalala, she expected athletics to cover its own expenses. That’s not the case anymore.
According to year-end financial statements for the fiscal year ending on May 31, 2021, Miami profited $432.4 million. That included a $400 million increase in net patient revenue from 2020’s fiscal year for hospitals and clinics.
A coaching change during the season is highly unlikely
Miami’s administration is highly unlikely to make a coaching change during the season in large part because it wants to protect the team from losing its top freshmen via the transfer portal. That’s the priority over everything else.Money will not be an issue.”
Frenk and Miami’s Board of Trustees, having seen the athletic program struggle, are fully invested in getting things right, and are willing to spend more money than Miami has in the past to do it. That means coaching, facility upgrades (Miami’s locker rooms are next) and whatever else is needed to help the program win championships.“Money will not be an issue,” a source said.
Frenk is not a huge sports fan, but he recognizes its importance to Miami’s overall image and wants to make the football program elite. That means, for example, winning the Coastal Division eight out of every 10 years, and the conference a handful of times a decade, a source said.
“There’s no reason we can’t win the division almost every year,” the source said.
Miami has played in the ACC Championship only once (2017) since joining the conference in 2004, and has never spent more than $4 million a season on its head football coach (former coach Mark Richt).
Miami would owe current coach Manny Diaz at least a percentage of what’s left on the final two years of his five-year contract (roughly $8 million) if he’s fired at the end of the season. Plus, the school would be on the hook for what is owed to his assistants — many of whom are on multiyear deals.
Between letting Diaz and his staff go, and hiring a new one, Miami could spend upward of $15 to $20 million to make changes. Again, the source said: “Money will not be an issue.”
Why? Miami’s UHealth program has made enough profit to help cover some bills. When Miami operated under Shalala, she expected athletics to cover its own expenses. That’s not the case anymore.
According to year-end financial statements for the fiscal year ending on May 31, 2021, Miami profited $432.4 million. That included a $400 million increase in net patient revenue from 2020’s fiscal year for hospitals and clinics.
