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Manny Diaz Buyout

Mackmiller974 said:
So let's think about this.. We payed 4M to buyout Manny from Temple. We then gave him a 5 year contract where he made 3.1M his first season and each year it increases. We now would have to Buyout the rest of Mannys contact. Let's say 11-14M. Now we will have to buy out our next HC unless you want a failed HC that was just fired or another first time HC. We now have to also give our new HC around 3.5-4M per year. So let's say we hire Cristobal, it would likely cost at minimum 20-25M to Buyout everyone and pay his first year salary.
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I doubt we paid that whole 4 million to Temple...He was there for a week. Probably a fraction of that.
 
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Mackmiller974 said:
So let's think about this.. We payed 4M to buyout Manny from Temple. We then gave him a 5 year contract where he made 3.1M his first season and each year it increases. We now would have to Buyout the rest of Mannys contact. Let's say 11-14M. Now we will have to buy out our next HC unless you want a failed HC that was just fired or another first time HC. We now have to also give our new HC around 3.5-4M per year. So let's say we hire Cristobal, it would likely cost at minimum 20-25M to Buyout everyone and pay his first year salary.
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I remember when we signed Manny (even though it was private) I remember a few insiders saying it was a very friendly contract for Miami, so I doubt the buyout is super large
 
MainLineCane said:
Manny should resign......just like Richt did

He should do so because he knows he's incompetent as an HC.......

Miami should pursue all avenues available to them for firing him without having to pay the full buyout. This should NOT be a public event or exercise because both parties future can be affected by this process.

The thought of that fraud holding us up for his entire buyout whatever it is ....stinks to high heaven........But I also realize that after being exposed as a HC fraud he is unlikely to ever get another offer.....he probably will as a DC.

But I've learned to take life as it is.....there's very few, if any, classy Mark Richts left out there....so I don't expect Manny to do what Mark did. I also don't expect us to pay the entire buyout.
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Manny would be an idiot to resign.
 
I’d say the only way the buyout would be nullified if Manny does something stupid.

Have at it.
 
mdpcane said:
doesnt matter if Diaz was there for only 5 minutes. Miami had to pay 4 million to Temple.
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Exactly, why the **** would Temple reduce what's owed them, especially when we basically stole him from them? LOL
Everytime I think of Flake paying 4 million for Manure, I get ****ed off!
 
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Mackmiller974 said:
So let's think about this.. We payed 4M to buyout Manny from Temple. We then gave him a 5 year contract where he made 3.1M his first season and each year it increases. We now would have to Buyout the rest of Mannys contact. Let's say 11-14M. Now we will have to buy out our next HC unless you want a failed HC that was just fired or another first time HC. We now have to also give our new HC around 3.5-4M per year. So let's say we hire Cristobal, it would likely cost at minimum 20-25M to Buyout everyone and pay his first year salary.
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Why waste your time with this bull****. He's not getting fired. Period.
 
duke4heisman said:
Exactly, why the **** would Temple reduce what's owed them, especially when we basically stole him from them? LOL
Everytime I think of Flake paying 4 million for Manure, I get ****ed off!
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that guy would get a $200 an hour hooker and he would **** himself 10 seconds after she took her shirt off.... that dumbass monkey thinks he would only owe her 5 bucks cause she was in the room only 2 minutes... lol
 
AHURT12 said:
Why waste your time with this bull****. He's not getting fired. Period.
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Right now he isn’t but there is a strong sense of denial within the Hecht center that we are gonna finish strong and it won’t be an issue... head is in the sand right now but coming out of UL game say 3-7... the fit will hit the shan. My guess is if we are heading home after FSU 3-6 that UL likely puts a serious beating on us at home cause our kids will have packed it in and Manny will be panicking and making even worse choices.
 
poobah03 said:
Right now he isn’t but there is a strong sense of denial within the Hecht center that we are gonna finish strong and it won’t be an issue... head is in the sand right now but coming out of UL game say 3-7... the fit will hit the shan. My guess is if we are heading home after FSU 3-6 that UL likely puts a serious beating on us at home cause our kids will have packed it in and Manny will be panicking and making even worse choices.
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Again. Why waste your time. He is not getting fired. You can come up with every conspiracy theory in the world and he ain't getting fired. History at this university and common sense both proves that.
 
poobah03 said:
Right now he isn’t but there is a strong sense of denial within the Hecht center that we are gonna finish strong and it won’t be an issue... head is in the sand right now but coming out of UL game say 3-7... the fit will hit the shan. My guess is if we are heading home after FSU 3-6 that UL likely puts a serious beating on us at home cause our kids will have packed it in and Manny will be panicking and making even worse choices.
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this is concise, cogent and well written ..... a rarity on the board. you have a very bright future on CIS !
 
Unless Blake is an idiot, which he likley is, the negotiated buyout is not close to full contract value. Manny was a reach candidate and we had the leverage as Temple wasn’t paying him as much on base and no one else would offer him what we did.
 
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Mackmiller974 said:
Yes we did it's a standard contract. Taggarts buyout was around 22M after his first season. Diaz Buyout is likely somewhere around 11-13M. His Buyout is likely 80% like the rest of college football HCs. He's owed around 14M for the next 4 years
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I don’t believe you. There is simply no way Diaz had the leverage to ask for that kind of contract.

I mean....the BOT would have to be complete morons. COMPLETE morons. Like drool on the chin type idiots. Especially because they’ve been burned by buyouts before, and Diaz likely would have taken the job for free.

There’s just no way it’s possible
 
Mackmiller974 said:
So let's think about this.. We payed 4M to buyout Manny from Temple. We then gave him a 5 year contract where he made 3.1M his first season and each year it increases. We now would have to Buyout the rest of Mannys contact. Let's say 12-15M. Now we will have to buy out our next HC unless you want a failed HC that was just fired or another first time HC. We now have to also give our new HC around 3.5-4M per year. So let's say we hire Cristobal, it would likely cost at minimum 25M to Buyout everyone and pay his first year salary.
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Your final number is close to what I came up with, but how you get there is a bit off. Here's my best guesstimate.

First, the $4M to Temple is a sunk cost. Keep Diaz, boot Diaz, fold the program... that money was spent. Take it out of the equation.

Assuming in this fantasy Diaz is fired at the end of the season, he likely has $13M to $14M remaining on the contract (my best guess is the number is 13.4, and the "slight" yearly increases cited by the Herald are $100K/year, which is similar to Cristobal's yearly raises in his extension). But even that figure can be (and often is) negotiated down some, reasonably in the neighborhood of $10M to $11M. And many coaches with minimal experience have clauses included in their contracts that only allow them to recover a % of their remaining $$ in a buyout (Cristobal, for example, only gets 60% of his remaining cash if terminated). Whether such a clause exists in Diaz's contract is an unknown (though if there isn't a 50-60% buyout in the contract, I'd argue that's just further evidence that Blake James is a complete moron in over his head).

Further assuming Cristobal is the guy and he's coming, Cristobal happens to be under contract through 2024 (making $2.6M this year with equal increases up to $3M his final year). His buyout is $9M if he leaves before 1/14/2020, then $8M, $5M, $3M, and finally $2M (in each subsequent year). Even if all of this was going to happen, I would guess UM waits until 1/15 to save themselves $1M (but our AD and BOT have done much dumber things in the past).

Assuming $3.5M in year 1 salary for Cristobal, we're at $21.5M to $22.5M (buyout Diaz, pay Cristobal's buyout, and pay Cristobal's 2020 salary), and that's assuming UM can only get about a 25% discount on Diaz's buyout and doesn't have more favorable contract terms (again, knowing Blake James, I wouldn't be surprised either way). Assuming a 50% buyout clause, the total is $18M to $18.5M.
 
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