If that ends up being the case Pitt would owe him $10 million if he was axed. Frankly I can't see Pitt swallowing that many dollars just to hire a new coach. The misery continues for Pitt basketball for several more years going forward I'm afraid.
PSN reporting Stallings not accepting any buy outs
- Thread starter jrnPitt
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It has already been explained several times that $10 million is a bad number. That presupposes that Pitt (without any shoe company money or incentives for certain accomplishments) was paying Stallings a straight up $2.5 million per year and that they owe him 4 more years at that rate. The reality is that it cannot be that much that Pitt itself owes. In addition. they are probably losing $2 million per year in lost Pete revenue, so if if they only recover part of that lost revenue by hiring a new guy they will mitigate the red ink loss in paying Stallings off.
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Why are you still listening to that blob of fat? He also insisted Dixon was staying. Ultimately the boosters will influence Lyke along with the Chancellor.
I don't buy it. I enjoy reading PSN, but those guys, in my opinion, are lap dogs for Stallings. Vukovcan wrote a long article on how they couldn't get rid of Stallings. I say this, if he doesn't accept a buyout, fine. Let him twist in the wind for the next couple years. Things will only improve a little as long as he stays
PSN reporting-not the best two words to start a post with.
Yea, can somebody explain how the buyout could be $10 million? How? Were we really paying Stallings $2.5 million per year? $2.5 million times 4 years left? Can't be?
I have 1 question to ask. Without knowing anything about the buyout and this and that.
What if
You were in his shoes and Pitt came to you and said here is $6 million to resign or stay the next 4 years and collect 10 million.
What would you do? By taking less you don't have to go thru the struggle of coaching, recruiting etc...
What if
You were in his shoes and Pitt came to you and said here is $6 million to resign or stay the next 4 years and collect 10 million.
What would you do? By taking less you don't have to go thru the struggle of coaching, recruiting etc...
So, Stallings was making $2.5 million per year? Huh? How?
I mentioned we should pay Hurley or Cronin $3 million and people said no way we'd pay a coach that much but Stallings was getting $2.5 million guaranteed for SIX years? If that's true, I honestly think Gallagher should be fired and Barnes/Turner should be sued.
That's really terrible. Why would they have offered Stallings - who has no history of coaching superiority - a guaranteed contract like that? And who approved it?
Depends on if you love coaching and believe you can build a good program
Some people might want a chance to complete the job they were hired to do and have no desire to accept money to go away.
If they gave Kevin Stallings $15 million guaranteed........Gallagher gotta go
It's one of 2 things:
1) Pitt agreed to the most irresponsible contract in college basketball history.
or
2) Nobody knows what the hell they are talking about.
1) Pitt agreed to the most irresponsible contract in college basketball history.
or
2) Nobody knows what the hell they are talking about.
No way in a once in history fully guaranteed contract .
Seriously - coach k, Roy Williams, and pitino don’t have those kind of deals
I don’t understand this at all .... how could anyone with power in the decision process not recognize the obvious problem here? It was obvious nationally to every single sportswriter when Dixon left and Pitt hired Stallings... it was obvious to some Burg sportswriters who knew this didn’t look good... “come clean “ indeed
That’s why on the contrary... I don’t think it takes guts at all ... just mediocre powers of observation are all that’s needed....
But Pitt wouldn't try to fire him and then just keep him as coach. There is no chance of that. If you operate under the illogical assumption the buyout/guarantee is $9.6-10m without deferments for offsets, then there is no reason someone would take only $6.25-6.5m to leave. At that point the relationship is over and Pitt has 0 leverage.
Change the word to guarantee, instead of 100% buyout. Either way it would be completely unprecedented AND your contention (directly conflicting with logic and PSN) would be Stallings would turn around and just give up $3m+ for no reason whatsoever.
I'm gonna say that this is a product of the rumor mills. As tight as Pitt is with athletic dollars, I won't believe it unless the university confirms it.
I would think it actually takes more guts , albeit misguided and wrong, to stand by Stallings in the Face of overwhelming negative opinions from the fan base.
So- I hope they make the popular decision and fire him tonight
Stop it with this narrative. Whats the matter with you?
In my Shaka Smart research, I read that there is no buyout so I guess his contract is fully guaranteed but they didn't get into specifics but I can see why you'd do that for a top-tier coach
I'm in the minority. but I, for one, was glad that the "come clean" question was asked.
Was it crude? Hell yeah.
But the way that the hire went down was worse than crude. It was a question that needed to be asked. It could've been worded differently, but - IMHO - the idea behind the question was appropriate.
I think the only explanation for the numbers being discussed is that the contract may have guaranteed the $9.6-10m at the outset. That would average about $1.6m per year. With 4 years to "buyout" that would be about $6.4m. If you also calculate based on the belief his deal averaged $2m per year, that means guaranteeing 75% of the dollars as base salary. Those numbers are still irresponsible by Pitt, but there is logic there.
Those are numbers I have discussed before. They should piss every single Pitt fan and donor off, but at least they make mathematical and precedent sense.
That means the reports his buyout/guarantee was $10m could be true, but based on him being fired day 1 on the job. That means reports his buyout/guarantee is now $6.5m could be true, for years 3-6. That means reports saying Stallings hasn't negotiated or won't negotiate the buyout/guarantee could be true.
Those are numbers I have discussed before. They should piss every single Pitt fan and donor off, but at least they make mathematical and precedent sense.
That means the reports his buyout/guarantee was $10m could be true, but based on him being fired day 1 on the job. That means reports his buyout/guarantee is now $6.5m could be true, for years 3-6. That means reports saying Stallings hasn't negotiated or won't negotiate the buyout/guarantee could be true.
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I said repeatedly that the idiots who first offered Stallings the job and were stupid enough to give him a 6 year deal were equally capable of topping those blunders off by not negotiating a buyout in the contract.
I agree totally... not a fan of that kind of stuff cause it looks really Bush leagues... but in this instance it really felt like the athletic department collectively lost its mind for few days and found itself trying to polish a turd while nursing the hangover of the bender they all apparently went on over that Easter weekend.... it was an obvious mess and frankly the tough non scripted questions needed to be aired out....further wouldn’t it have been easier to tell some deep pockets boosters to shut the hell up then rather than face the disaster we face now?
You mean to tell me there were no mid-major coaches that wanted to triple their salary, and be able to coach in the ACC.
Page 367 here https://www.utsystem.edu/sites/defa.../board-meetings/agenda-book-full/5-2015ab.pdf
6 of the 7 years are guaranteed. The last year is not, so 84% is guaranteed from day 1 and that percentage remaining guaranteed drops each year. So in the Stallings situation (fired after year 2) he would be guaranteed less than 79% of his remaining base salary.
And that is base salary. Does not include camps, clinics, and other incentives.
Edit: corrected my math...
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You are having trouble with the math?
Contract: $12M/6 years = $2M per year (average)
Per Year Guarantee/Buyout: 75% * $2M per year = $1.6M per year (average)
Guarantee/Buyout Remaining by Year:
April 2016 - $1.6M per year * 6 years = $9.6M
April 2017 - $1.6M per year * 5 years = $8.0M
April 2018 - $1.6M per year * 4 years = $6.4M
That allows for the following "reports" to be correct without proceeding illogically:
-The average salary was $2M per year
-The buyout WAS $9.6-10M
-The buyout IS $6.25-6.5M
-Stallings is not going to/has not negotiated a lower buyout/guarantee
Say what you will about Pedey boy, but I think he recognized that and why he continually gave Dixon raises. We had to pay a premium to keep him. Anyone who disagrees, think about this, how many coaches have we lost in the last decade, ADs too for that matter, all running off to other opportunities, which they likely perceived as better.
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I am sure SOMEBODY would have taken the job, but the hottest commodities seemed to spurn Pitt. I can't imagine that when Barnes let Dixon walk that his main target was Stallings. Or. Maybe it was, what a loser.
Pitino's contract was "fully guaranteed" with no buyout. His comp was $7.7m a year and his guaranteed money was $5m a year.
Tom Crean was making $3m a year. His non negotiated buyout with 3 years left on his contract was $4m.
If Stallings has $10m in guaranteed money left, he's making north of $3m a year.
Tom Crean was making $3m a year. His non negotiated buyout with 3 years left on his contract was $4m.
If Stallings has $10m in guaranteed money left, he's making north of $3m a year.
