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Manny Diaz Buyout

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section9 said:
This.

The BOT should understand by now that Flake has been burning through their money. Hire someone who knows what they’ve doing, then evaluate Diaz later.
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If you are firing Blake its bc u recognize (correctly) that he hired another horrendous coach. Why wouldnt you also immediately fire Diaz in that circumstance?
 
If Blake and Manny are let go. We will First find an AD and let them have input during the coach search. But first thing has to happen is firing Blake James. If we preform like we have, we will lose at Pitt and then Blake will issue another vote of confidence for Manny. Getting rid of Diaz will take some heavy hitters. His dad has very powerful people in the city and will use all his resources to protect his sons job at Miami.
 
TheOldU2002 said:
Another guy who thinks that we should keep the HC who is so bad that he needs to turnover his entire staff.

Just fire Diaz and move on the guy barely even landed the Temple job, its no mystery why he’s failing so hard here.
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Don't think his point was about keeping Manny it was about how much of a fraud and hypocrit he is.
 
Redstate12 said:
Just someone keeping receipts. Manny talked so much **** he is now being judged by it. Has to win 7 games to even match a staff he complained about all off-season. Plus IF he stays he better relieve his offensive staff just like he fired Richts.
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So that is an actual quote from Manny?
 
RightSaidFred said:
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
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I know for a fact he's making 3.1M the first season and each season he gets a increase in pay. A standard buyout is 80% and other fees. It's not like it's out of the norm so I don't understand why you think this is some crazy contract. It's normal
 
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No_Fly_Zone said:
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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Idk man Taggart wasn't a very seasoned HC and he got a 6 year contract with a 85% buyout. I wouldn't be surprised if Diaz Buyout was somewhere between 70-80% considering he left Temple.
 
Manny Diaz is unqualified and is shame that his daddy’s friends maneuvered to get him the job. This hiring was like those old nepotism hires that used to happen in the mafia. Next thing you know you have an unqualified person running a company cause he is the son of the boss.
 
TheOldU2002 said:
If you are firing Blake its bc u recognize (correctly) that he hired another horrendous coach. Why wouldnt you also immediately fire Diaz in that circumstance?
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a fish rots from the head ... any moron knows that . and even ray charles could see that Diaz is not the right guy to restore the Canes program and along with the AD and the admin jackasses, he is a huge part of the problem that needs to be removed and it doesnt matter if he has coached 7 games, or 70, or 700 .... that is irrelevant.

only a total dumbass would believe that if everyone else gets fired and Diaz stays, then things will magically be great. thats bull****.
 
g8rh8rMD said:
Forget about firing Manny and hiring another coach. Until the athletic department is overhauled, that would be a pointless, counterproductive endeavor.

Frankly, Manny should return next season. We need to clean house in the athletic department right now. Let the new AD get the foundation in place and surround himself with the right people over the next year or two, evaluate the coaches and programs as time goes on, and make the changes he thinks are necessary as he or she deems fit.

This goes way beyond "the right HC hire".
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That last line is correct but none of it matters because there's no top guys wanting the job and anyone that doesn't light it up from the rip will have talk of banners and like and his blood bayed for too.
 
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Mackmiller974 said:
I know for a fact he's making 3.1M the first season and each season he gets a increase in pay. A standard buyout is 80% and other fees. It's not like it's out of the norm so I don't understand why you think this is some crazy contract. It's normal
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Because there is no way we would pay him more than Temple. He already tipped his hand and indicated he was willing to accept the Temple gig for x dollars. Miami is a more prestigious job, his family is from Miami, and he already lives here. So why would we pay him more than that?

The MOST we should have given him would be to match Temple's offer. And even that would be too much, IMO.

Neither you nor I have any clue what the details of the contract are. But if it's anything close to what you're saying it is, then the BOT are idiots.

Incidentally, this is all a very good reason NOT to donate money to UM in the future. They're not transparent at all how the money is spent, and, unlike a public company where I invest money and they have some fiduciary duty to look after my investment, the University can spend my donation as poorly as they see fit.

Seems like a losing proposition to me. At least if I donate money to Florida State or the University of Florida, there's some transparency how and where they spend their donor's dollars.
 
Mackmiller974 said:
Idk man Taggart wasn't a very seasoned HC and he got a 6 year contract with a 85% buyout. I wouldn't be surprised if Diaz Buyout was somewhere between 70-80% considering he left Temple.
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Definitely possible. Especially with our lame AD and weak-minded BOT, and how panicked the move was to begin with.
 
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