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– And this is why it's critically important that we NEVER...
Posted on: March 21, 2025 at 18:31:45 CT
zounami MU
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give Gates another raise or extension... until the *ridiculous* buyout terms are renegotiated.
DRF gave him a 100% fully guaranteed contract, which means the buyout is his entire compensation for the remainder of the contract. That's why, 2 years later – following an 0-19 season – Gates still has one of the richest buyouts in all of college basketball @ $17M ($4.25M per year * 4 years remaining).
Smart ADs (unlike DRF) structure their contracts in a way that only pays ~50% of the remaining contract upon termination. For example, Keatts' buyout at NC State was only $7.5M and that was 1 year after taking NC State to a Final Four. By comparison, DRF handed Gates a $25M buyout after a blowout loss to Princeton. To summarize:
• at NC State: Final Four + ACC championship = $7.5M buyout
• at Mizzou: blowout loss to 15-seed Princeton = $25M buyout
(That's why you don't hire clowns like DRF.)
The fact is, Gates' contract should never exceed 4 years. His salary should never exceed $4M. And our total buyout exposure should never exceed $6M (50% of $4M * 3 years remaining after a bad season).
Until we renegotiate the buyout terms, any raise or extension would make it *prohibitively expensive* to fire Gates (e.g. after another 0-19 season or continued blowout losses to mid-majors in the early rounds of the tournament).
Until that happens, all we can do is continue pouring millions into his roster to avoid a repeat of his 2nd season, as we let the clock run out on the current terms of his buyout.
DRF gave him a 100% fully guaranteed contract, which means the buyout is his entire compensation for the remainder of the contract. That's why, 2 years later – following an 0-19 season – Gates still has one of the richest buyouts in all of college basketball @ $17M ($4.25M per year * 4 years remaining).
Smart ADs (unlike DRF) structure their contracts in a way that only pays ~50% of the remaining contract upon termination. For example, Keatts' buyout at NC State was only $7.5M and that was 1 year after taking NC State to a Final Four. By comparison, DRF handed Gates a $25M buyout after a blowout loss to Princeton. To summarize:
• at NC State: Final Four + ACC championship = $7.5M buyout
• at Mizzou: blowout loss to 15-seed Princeton = $25M buyout
(That's why you don't hire clowns like DRF.)
The fact is, Gates' contract should never exceed 4 years. His salary should never exceed $4M. And our total buyout exposure should never exceed $6M (50% of $4M * 3 years remaining after a bad season).
Until we renegotiate the buyout terms, any raise or extension would make it *prohibitively expensive* to fire Gates (e.g. after another 0-19 season or continued blowout losses to mid-majors in the early rounds of the tournament).
Until that happens, all we can do is continue pouring millions into his roster to avoid a repeat of his 2nd season, as we let the clock run out on the current terms of his buyout.
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– And this is why it's critically important that we NEVER... - zounami MU - 3/21 18:31:45
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