Jerome Tang’s Buyout is $2.925M

jjm22 said:

I don't believe for one second that Tang would walk away easily, or quietly, from his current gig. I also don't believe Gene has the balls to make a negotiation occur. Get rid of Gene first, then move to Tang imo.

jjm22 said:

I don't believe for one second that Tang would walk away easily, or quietly, from his current gig. I also don't believe Gene has the balls to make a negotiation occur. Get rid of Gene first, then move to Tang imo.

refuse to lose said:

If Tang is fired this year, he is owed $18.675M. If he’s fired after next season then that amount is reduced to $15.75M. Does anyone actually believe that Tang will miraculously turn it around next year? If not, then his buyout is really just the amount by which it decreases after next year. That’s only $2.925M. If we’re unable to negotiate the buyout then it’s going to cost us significantly. Let’s figure out how to get it done this year and move on. Hopefully he agrees to leave this year for something closer to $10M. I doubt it. I’ve heard the 3MAW idea to renegotiate his contract. It’s clever but I don’t think the health of our program can survive another year. Shamrock boys - do your thing, please.

KSYOU said:

Does ANYONE want Gene making the next MBB hire? I sure as f don't want any of his influence as to whom will be the next Coach in MHK.

Cully_Cat said:

I don't know if this has been answered or not, but what are the actual buyout terms? I assume there is offset language that specifies that he seeks employment. Obviously he's not getting another P5 gig after this, but if he can make 1m/yr on someone's bench it helps. Also, is it a lump sum payment at 30 days after termination? Or is it over the life of the contract?

DocHolliday1887 said:

I’d rather divert the money to other sports that we have good coaches in already (FB, T&F, Baseball) until the buyout is at least half the current amount

KSYOU said:

Does ANYONE want Gene making the next MBB hire? I sure as f don't want any of his influence as to whom will be the next Coach in MHK.

Cully_Cat said:

I don't know if this has been answered or not, but what are the actual buyout terms? I assume there is offset language that specifies that he seeks employment. Obviously he's not getting another P5 gig after this, but if he can make 1m/yr on someone's bench it helps. Also, is it a lump sum payment at 30 days after termination? Or is it over the life of the contract?

DocHolliday1887 said:

I’d rather divert the money to other sports that we have good coaches in already (FB, T&F, Baseball) until the buyout is at least half the current amount

jjm22 said:

yeah **** it, split it up between track and fball. Tell Tangy boy and his crew to get ******.

MRAcat said:

nor is it a smart strategic decision to tell people giving to basketball that you dont want them to fund what they want to fund

tconman08 said:

While your logic is not wrong because it is a sunk cost, I don't think we have the cash or the committed donations to actually go through with it this year. Its only $3 million more but the $18.675 million has to still come from somewhere. This is a good way of framing it though and I would really hope Gene has had this discussion with the basketball BMD's. I think the scenario Cole laid out on 3MAW is the more realistic.

chskat said:

How much longer will they want to? Seems like their patience is wearing thin.

MRAcat said:

that's why i think they make a move. because it's far more important to keep people engaged in the giving and supporting while you can. big ask though, of course. buyout for tang, assistants, and the coach/staff you want to come. but the cost of inaction is high too

chskat said:

Negotiate a lower buyout or he will receive no NIL for the remainder of his contract and absolutely beclown himself.

refuse to lose said:

If Tang is fired this year, he is owed $18.675M. If he’s fired after next season then that amount is reduced to $15.75M. Does anyone actually believe that Tang will miraculously turn it around next year? If not, then his buyout is really just the amount by which it decreases after next year. That’s only $2.925M. If we’re unable to negotiate the buyout then it’s going to cost us significantly. Let’s figure out how to get it done this year and move on. Hopefully he agrees to leave this year for something closer to $10M. I doubt it. I’ve heard the 3MAW idea to renegotiate his contract. It’s clever but I don’t think the health of our program can survive another year. Shamrock boys - do your thing, please.