The Buyout

[Las Panteras]

We owe Narduzzi roughly $42 M over the next 6 years. (someone correct me if that number is off)

From all of the posts over the past few days, most seem to be saying he gets another year. Most also seem to think there is very little to suggest next year will be that much different. With this in mind, I think its a pretty safe bet that PN will be gone after next year ( I thought it would be this year). So.....at the very least, we are buying out Narduzzi at $36M, maybe a little less if a negotiated settlement.

I bring this up because there seems to be a majority here that says he gets another year because of his huge buyout. My point is, whether he goes this afternoon or a year from now we still owe the guy millions. So, the question is, is it worth to keep the guy another year for $6-7 mill for next year only?

Its a lot of money for Pitt. It doesnt give Greene a lot of time to find a replacement, so he likely will be here. .

Which brings me to Mr Greene. He hired Harsin at Auburn who flamed out bigly. Some at Auburn will tell you it is why Greene left (re: shown the door). Do we trust this guy can find someone to exceed Narduzzi?

Im not advocating one way or the other. But I do enjoy the thoughts from Pitt faithful.

 

[TheWerewolfFromTwilight]

I highly doubt we buy him out for any figure over $20M, and that number might even be a bit high. It sucks to say, but he's not going anywhere until at least 2028ish.

We are financially-strapped right now. We can't afford to pay a guy $7M/season not to coach.

 

[thebadby2]

We owe Narduzzi roughly $42 M over the next 6 years. (someone correct me if that number is off)

From all of the posts over the past few days, most seem to be saying he gets another year. Most also seem to think there is very little to suggest next year will be that much different. With this in mind, I think its a pretty safe bet that PN will be gone after next year ( I thought it would be this year). So.....at the very least, we are buying out Narduzzi at $36M, maybe a little less if a negotiated settlement.

I bring this up because there seems to be a majority here that says he gets another year because of his huge buyout. My point is, whether he goes this afternoon or a year from now we still owe the guy millions. So, the question is, is it worth to keep the guy another year for $6-7 mill for next year only?

Its a lot of money for Pitt. It doesnt give Greene a lot of time to find a replacement, so he likely will be here. .

Which brings me to Mr Greene. He hired Harsin at Auburn who flamed out bigly. Some at Auburn will tell you it is why Greene left (re: shown the door). Do we trust this guy can find someone to exceed Narduzzi?

Im not advocating one way or the other. But I do enjoy the thoughts from Pitt faithful.

My overriding thought on that is and has always been that it was idiotic for Pitt to give Duzzi that kind of contract and leverage. I understand the way the college football world works now there's a lot of pressure to lock up your coach for the future, but still.....

Those posters who like to remind us that, despite all the gnashing of teeth, like it or not, Duzz isn't going anywhere, are 100% correct.

 

[pierre93]

I highly doubt we buy him out for any figure over $20M, and that number might even be a bit high. It sucks to say, but he's not going anywhere until at least 2028ish.

We are financially-strapped right now. We can't afford to pay a guy $7M/season not to coach.

But Pitt can make his job miserable or get him on technicalities etc. Kinda similar to Stallings but we shall see what goes on. H2P

 

[TheSpecialSauce]

We owe Narduzzi roughly $42 M over the next 6 years. (someone correct me if that number is off)

From all of the posts over the past few days, most seem to be saying he gets another year. Most also seem to think there is very little to suggest next year will be that much different. With this in mind, I think its a pretty safe bet that PN will be gone after next year ( I thought it would be this year). So.....at the very least, we are buying out Narduzzi at $36M, maybe a little less if a negotiated settlement.

I bring this up because there seems to be a majority here that says he gets another year because of his huge buyout. My point is, whether he goes this afternoon or a year from now we still owe the guy millions. So, the question is, is it worth to keep the guy another year for $6-7 mill for next year only?

Its a lot of money for Pitt. It doesnt give Greene a lot of time to find a replacement, so he likely will be here. .

Which brings me to Mr Greene. He hired Harsin at Auburn who flamed out bigly. Some at Auburn will tell you it is why Greene left (re: shown the door). Do we trust this guy can find someone to exceed Narduzzi?

Im not advocating one way or the other. But I do enjoy the thoughts from Pitt faithful.

This is all guesswork unless you see the details of the contract.

 

[NCPitt]

I bring this up because there seems to be a majority here that says he gets another year because of his huge buyout. My point is, whether he goes this afternoon or a year from now we still owe the guy millions. So, the question is, is it worth to keep the guy another year for $6-7 mill for next year only?

Its a good thing the majority hold little, if any sway, over the decision.

 

[FreeportPanther]

Its a good thing the majority hold little, if any sway, over the decision.

It’s definitely a “thing”. But more a sad depressing thing.
Pitt is such a football also ran.
Sad it has become a welfare provider for a meh coach.

 

[NCPitt]

It’s definitely a “thing”. But more a sad depressing thing.
Pitt is such a football also ran.
Sad it has become a welfare provider for a meh coach.

There are worse things.

 

[Gunga_Galunga]

We owe Narduzzi roughly $42 M over the next 6 years. (someone correct me if that number is off)

From all of the posts over the past few days, most seem to be saying he gets another year. Most also seem to think there is very little to suggest next year will be that much different. With this in mind, I think its a pretty safe bet that PN will be gone after next year ( I thought it would be this year). So.....at the very least, we are buying out Narduzzi at $36M, maybe a little less if a negotiated settlement.

I bring this up because there seems to be a majority here that says he gets another year because of his huge buyout. My point is, whether he goes this afternoon or a year from now we still owe the guy millions. So, the question is, is it worth to keep the guy another year for $6-7 mill for next year only?

Its a lot of money for Pitt. It doesnt give Greene a lot of time to find a replacement, so he likely will be here. .

Which brings me to Mr Greene. He hired Harsin at Auburn who flamed out bigly. Some at Auburn will tell you it is why Greene left (re: shown the door). Do we trust this guy can find someone to exceed Narduzzi?

Im not advocating one way or the other. But I do enjoy the thoughts from Pitt faithful.

1) I don't think his buyout is 100% of remaining salary. If it is, Lyke was grossly negligent in stupidity.
2) I'd guess they owe him ~ $30-$35m if they fired him today, and it might be negotiated down as a one time payment without restrictions
3) I doubt they eat anything over $15m. WVU couldn't even afford that.

He's got 2 more years at minimum and maybe 3.

 

[FreeportPanther]

There are worse things.

Of course there are.
But these long term contracts are so onerous to the point there is no accountability. No matter how bad the performance the coach gets paid.
If the coach does well he’s able to squirm out of the deal and leave!

 

[TheWerewolfFromTwilight]

1) I don't think his buyout is 100% of remaining salary. If it is, Lyke was grossly negligent in stupidity.
2) I'd guess they owe him ~ $30-$35m if they fired him today, and it might be negotiated down as a one time payment without restrictions
3) I doubt they eat anything over $15m. WVU couldn't even afford that.

He's got 2 more years at minimum and maybe 3.

Most of these guys have been getting fully-guaranteed contracts for a while now. I'd be surprised if it wasn't that, given that's how the market has been working. A big reason Lyke is out is her rampant spending, so this would seem to jive with that.

Maybe we can Bobby Bonilla him from now until 2150.

 

[Las Panteras]

Of course there are.
But these long term contracts are so onerous to the point there is no accountability. No matter how bad the performance the coach gets paid.
If the coach does well he’s able to squirm out of the deal and leave!

I think someone posted earlier that Indiana extended Cignetti 8 years / for millions. He was 10-0 at the time. Of course, he showed his gratitude by playing a legit team and got pasted. I dont know what kind of funds a place like IU has....but any fresham economics major can see this was kinda short sighted.

 

[Pitt666]

Remember that time we forced Dixon out because anyone else would be better. And then it got even worse. To sort of rock bottom levels. And then another 5 years to turn around. Pitt better be damn sure you have a winner before you kick out a dude who has won the ACC. Or at least what expectations are. Seems folks don’t care about a winning season. So is 10 wins the floor for fan base? Seems unrealistic.

 

[TheWerewolfFromTwilight]

I think someone posted earlier that Indiana extended Cignetti 8 years / for millions. He was 10-0 at the time. Of course, he showed his gratitude by playing a legit team and got pasted. I dont know what kind of funds a place like IU has....but any fresham economics major can see this was kinda short sighted.

Mel Tucker, anyone? I get that it was a few specific donors who footed that one (and eventually got out of it), but how dumb are these schools?

Narduzzi was not in high-demand, and they should have been able to discern by that point what he is with and without a Heisman candidate at QB.

Tucker got through a ridiculously simple schedule, and we almost beat them with a 3rd stringer. They weren't all that good at all.

Cignetti... I guess I understand this one a bit more, because he might draw some SEC interest. But he's still pretty old, and the stars definitely aligned with that schedule.

 

[TheWerewolfFromTwilight]

Remember that time we forced Dixon out because anyone else would be better. And then it got even worse. To sort of rock bottom levels. And then another 5 years to turn around. Pitt better be damn sure you have a winner before you kick out a dude who has won the ACC. Or at least what expectations are. Seems folks don’t care about a winning season. So is 10 wins the floor for fan base? Seems unrealistic.

No. I remember the time when Dixon played us after every season looking for a raise and we finally told him to take the other offer and didn't cave into his demands, though.

 

[FreeportPanther]

No. I remember the time when Dixon played us after every season looking for a raise and we finally told him to take the other offer and didn't cave into his demands, though.

Exactly and he’s never replicated his success here at TCU.

 

[TheWerewolfFromTwilight]

Exactly and he’s never replicated his success here at TCU.

Nor was he on pace to do it again at Pitt. His recruiting fell off a cliff.

As I always say, not keeping Dixon wasn't the problem; hiring Stallings was.

So, yeah... it's true that if we fire Narduzzi and then hire, like, Neal Brown then a lot of us would probably miss Narduzzi. He does have a point on that one.

 

[Gunga_Galunga]

Most of these guys have been getting fully-guaranteed contracts for a while now. I'd be surprised if it wasn't that, given that's how the market has been working. A big reason Lyke is out is her rampant spending, so this would seem to jive with that.

Maybe we can Bobby Bonilla him from now until 2150.

Maybe for coaches who could be in demand, but I'm not so sure for long term extensions for guys like Narduzzi. Looks like Neal Brown's is 75% of remaining contract. Sometimes the percentage owed goes down as the years reduce.

We don't know Narduzzi's details, but I can't fathom giving an extension that long without some reduced buyout in the back half.

 

[FreeportPanther]

Nor was he on pace to do it again at Pitt. His recruiting fell off a cliff.

As I always say, not keeping Dixon wasn't the problem; hiring Stallings was.

So, yeah... it's true that if we fire Narduzzi and then hire, like, Neal Brown then a lot of us would probably miss Narduzzi. He does have a point on that one.

Well the point is if we’re destined to be mediocre Pitt can easily be mediocre without paying a coach almost $7 million per year!!
But ole Nardawg got himself a pretty cozy gig!

Where else could such a bright articulate guy like him make that kind of cash? Ya know ya know ya know????

 

[Pitt666]

Exactly and he’s never replicated his success here at TCU.

He’s taken them to 3 straight tourneys. They had made 8 tourneys total prior to his arrival.

 

[Pitt666]

Nor was he on pace to do it again at Pitt. His recruiting fell off a cliff.

As I always say, not keeping Dixon wasn't the problem; hiring Stallings was.

So, yeah... it's true that if we fire Narduzzi and then hire, like, Neal Brown then a lot of us would probably miss Narduzzi. He does have a point on that one.

I agree with the hiring Stallings part. If Capel had taken over that senior laden class, he likely makes tourney in year one and completely different trajectory for Pitt rather than 5 plus years rebuild.

 

[Sean Miller Fan]

We owe Narduzzi roughly $42 M over the next 6 years. (someone correct me if that number is off)

From all of the posts over the past few days, most seem to be saying he gets another year. Most also seem to think there is very little to suggest next year will be that much different. With this in mind, I think its a pretty safe bet that PN will be gone after next year ( I thought it would be this year). So.....at the very least, we are buying out Narduzzi at $36M, maybe a little less if a negotiated settlement.

I bring this up because there seems to be a majority here that says he gets another year because of his huge buyout. My point is, whether he goes this afternoon or a year from now we still owe the guy millions. So, the question is, is it worth to keep the guy another year for $6-7 mill for next year only?

Its a lot of money for Pitt. It doesnt give Greene a lot of time to find a replacement, so he likely will be here. .

Which brings me to Mr Greene. He hired Harsin at Auburn who flamed out bigly. Some at Auburn will tell you it is why Greene left (re: shown the door). Do we trust this guy can find someone to exceed Narduzzi?

Im not advocating one way or the other. But I do enjoy the thoughts from Pitt faithful.

Harsin was the #1 guy. He was the obvious hire that year so I give Greene a pass.

Yes, $6 million is enough to give Narduzzi 2025.

 

[Sean Miller Fan]

1) I don't think his buyout is 100% of remaining salary. If it is, Lyke was grossly negligent in stupidity.
2) I'd guess they owe him ~ $30-$35m if they fired him today, and it might be negotiated down as a one time payment without restrictions
3) I doubt they eat anything over $15m. WVU couldn't even afford that.

He's got 2 more years at minimum and maybe 3.

Its usually pretty close to 100% of remaining salary. Its contracted in. Maybe 70%, 80% but it could be 90%, 95% too. This cant really be negotiated. The only thing that could be is lets say they offer him a smaller lump sum now as opposed to the full amount over 5-6 years. Would it be better for Narduzzi to take a smaller lump and make that money back in the market?

 

[Sean Miller Fan]

I highly doubt we buy him out for any figure over $20M, and that number might even be a bit high. It sucks to say, but he's not going anywhere until at least 2028ish.

We are financially-strapped right now. We can't afford to pay a guy $7M/season not to coach.

5-7 or worse and he is gone. No question.

 

[thebadby2]

I think someone posted earlier that Indiana extended Cignetti 8 years / for millions. He was 10-0 at the time. Of course, he showed his gratitude by playing a legit team and got pasted. I dont know what kind of funds a place like IU has....but any fresham economics major can see this was kinda short sighted.

IU has always had big money, but football never mattered there until now. From reported info they have also raised a $hit ton of donor money for NIL use. After 120 years of playing the sport they have finally decided they want to be a factor in the world of college football, and I believe they feel that NIL and the portal have made that feasible where it had not been previously.

MSU paying Mel Tucker 100 mill after one good season was not only shortsighted, but idiotic despite much of that money coming from a a couple of big dollar donors, most significantly billionaire Mat Ishbia. With Cig, the portal and NIL, it doesn't seem like nearly as risky of a bet. The OSU loss doesn't reflect negatively on Cig, I don't think anyone objectively expected them to stay on the field with OSU. OSU has NFL guys 2 deep at every position and IU has a bunch of G5 and MAC transfers with a few big school castoffs mixed in. They aren't ready to take on that kind of monster yet, and maybe never will be. But they have the ingredients to be a relatively consistent top 5 team in the B10 for years to come, whereas before NIL and the portal, there was no possibility of that.

 

[TheSpecialSauce]

You’d think these AD’s would learn their lesson with giving extremely long or lifetime contracts to coaches.

 

[Gunga_Galunga]

Well the point is if we’re destined to be mediocre Pitt can easily be mediocre without paying a coach almost $7 million per year!!
But ole Nardawg got himself a pretty cozy gig!

Where else could such a bright articulate guy like him make that kind of cash? Ya know ya know ya know????

Well, that inarticulate guy negotiated that sweetheart deal himself. What's that say about the smart guys at Pitt who approved it?

 

[Sean Miller Fan]

He’s taken them to 3 straight tourneys. They had made 8 tourneys total prior to his arrival.

And he hasnt finished above .500 in conference play, incredibly, since 2012-13. He is a good coach but he's making these NCAA Tournaments due to gaming. Capel called out the B12 for gaming the NET last year. They all play cupcakes in the non-con, run up the score so if you go 8-10 in the league, you are in.

 

[FreeportPanther]

Well, that inarticulate guy negotiated that sweetheart deal himself. What's that say about the smart guys at Pitt who approved it?

Probably why Lyke isn’t here anymore either
Someone making a million per year puts Pitt on the hook for around $45 million to get .500 results

 

[Slick Manager of Champs]

You’d think these AD’s would learn their lesson with giving extremely long or lifetime contracts to coaches.

especially when there was no one trying to poach Narduzzi, Heather was literally bidding against herself

 

[Burgh15]

I think someone posted earlier that Indiana extended Cignetti 8 years / for millions. He was 10-0 at the time. Of course, he showed his gratitude by playing a legit team and got pasted. I dont know what kind of funds a place like IU has....but any fresham economics major can see this was kinda short sighted.

That was wild to extend him in his first year. Indiana isn't a football school and have to love the success, but I need to see Cignetti sustain this type of success over several seasons. If he has serious in another job, see what the market sets him at. I would've waited.

 

[Gunga_Galunga]

Probably why Lyke isn’t here anymore either
Someone making a million per year puts Pitt on the hook for around $45 million to get .500 results

Yeah, but anything that big needs Chancellor and BoT approval.

 

[Islanderpanther]

We don’t know what the buyout is because we don’t know the deal Lyke negotiated. It’s not necessarily the case Narduzzi would be owed his total annual salary for the unexpired term of the contract….a smart AD would have conditioned the extension on a buyout that decreased annually and wasn’t based on the amount of the annual salary. But we’re talking about Narduzzi’s guardian angel here in the form of Heather Lyke so I wouldn’t be shocked if the buyout is his annual salary multiplied by the years left on his deal.

 

[FreeportPanther]

We don’t know what the buyout is because we don’t know the deal Lyke negotiated. It’s not necessarily the case Narduzzi would be owed his total annual salary for the unexpired term of the contract….a smart AD would have conditioned the extension on a buyout that decreased annually and wasn’t based on the amount of the annual salary. But we’re talking about Narduzzi’s guardian angel here in the form of Heather Lyke so I wouldn’t be shocked if the buyout is his annual salary multiplied by the years left on his deal.

Wonder if she got a kickback? $$$ for all!!

 

[TD_6082]

It would take a total dumbass to take the Pitt job without a long-term deal.

 

[Islanderpanther]

Wonder if she got a kickback? $$$ for all!!

I think ultimately she got the “ kick out”! While nothing was said about this, after the season Pitt had last year, can you imagine what the chancellor thought upon learning the Narduzzi contract went until 2030.

 

[pittmeister]

Pitt donors can buy out the $36 million dollars on Narduzzi's contract OR take the cash and get better players. Players win games. I go get some players for that amount.

 

[yourhired]

There is always an expiration date and I'm sad to say Pat has hit the date. I don't think Pitt will fire Pat but he might get encouraged to look for a new job and Pitt says hey we'll waive your buy out. I'm speculating but I'm leaning that it may be a scenario like that.

 

[FreeportPanther]

There is always an expiration date and I'm sad to say Pat has hit the date. I don't think Pitt will fire Pat but he might get encouraged to look for a new job and Pitt says hey we'll waive your buy out. I'm speculating but I'm leaning that it may be a scenario like that.

A new job doing what exactly?? Who would hire him especially at that ridiculous salary??
Coaches like him are a dime a dozen!

 

[Burgh15]

Pitt donors can buy out the $36 million dollars on Narduzzi's contract OR take the cash and get better players. Players win games. I go get some players for that amount.

Or do neither.