Manny's Compensation was $9.5 million in the year ending 5/31/2020 (had to come back for this one)

[hoops156]

Miami is recouping that buyout via the low $3.1M salary. Jeff Brohm at Purdue makes $6.5M and Manny is 8th or 9th in the ACC (you get what you pay for).

His salary and buyout isn't going to prevent Miami from firing his *** end of season if things go into the ******* but Teflon Blake James is the real problem.

8th or 9th in ACC is about where we may end up this year so bout right. you get what you pay for

 

[JD08]

So, was it worth it? What the average salary of a 7-5 coach?

 

[Fluffhead]

That sounds odd to me. Passing the income through a natural person causes nearly half of it to go to government. (PA is a high tax state and Phily is a high tax city.) That would be crazy. If UM paid Manny 4 mm, he sends 1.75 mm give or take to federal, state and local governments. So if he paid the rest to Temple, they get 2.25 mm. Don't think Manny would get a deduction for that, either. Maybe an accountant would contend otherwise but it's a settlement, not a business expense (and he's not like an actor who contracts through an entity). Lot more sensible for UM (tax free) to pay Temple (tax free) the money.

I do these forms for a living. The starting and ending point for this section is Manny's W-2., and they 100% paid the tax gross up. It is disclosed in Schedule J. If Manny's contract with Temple said that he is responsible for the buyout, then you are extinguishing a liability of Manny's and that is compensation to him regardless of whether the money goes through him or straight from Miami to Temple, which is 99% why they grossed up his pay.

Someone also mentioned base vs bonus pay. Manny's base pay is a hair over $270k.

 

[Unsider]

I’m FULLY aware of how buyouts work, and I’m not getting what u’re even trying to argue. The buyout MONEY came from The University of Miami. Manny Alberto Diaz Jr did not pay that buyout from his own pocket, MEANING, he dipped into his years of saving Xmas $ to pay Temple. The University paid him, in which he paid Temple. So I’m not sure if ur trying to spin this, so I don’t want to be accusatory, but the point was, the University paid for the buyout.

Absolute mismanagement of the University’s money. They should be made to pay out of their own pockets, every decision maker involved.

 

[Lance Roffers]

Yes this has to include the buy out. But how exactly did we pay him 9.5 million in the 12 month period ending 5/31/2020.

https://apps.irs.gov/pub/epostcard/cor/590624458_202005_990_2021042117979597.pdf

View attachment 156047

I should’ve been a professor at Miami.

 

[Rellyrell]

Absolute mismanagement of the University’s money. They should be made to pay out of their own pockets, every decision maker involved.

I’ll keep beating the drum; we don’t have a talent issue here at this school, it’s not a $ or resource problem (w/ a capital P), it is a lack of leadership problem. For yrs all of Miami’s doings were kept lock & key since they r a Private Institution; but now, more & more **** is starting to leak. It’s funny b/c every time they wanna pat themselves on the back for a project they have interest in, it undermines their “broke” narrative. Now that we know they can utilize donations anyway they see fit, lord knows where donations provided by boosters for the program have gone.

 

[Bender]

 

[hoops156]

I’ll keep beating the drum; we don’t have a talent issue here at this school, it’s not a $ or resource problem (w/ a capital P), it is a lack of leadership problem. For yrs all of Miami’s doings were kept lock & key since they r a Private Institution; but now, more & more **** is starting to leak. It’s funny b/c every time they wanna pat themselves on the back for a project they have interest in, it undermines their “broke” narrative. Now that we know they can utilize donations anyway they see fit, lord knows where donations provided by boosters for the program have gone.

you can't utilize the donations that are earmarked towards a purpose (I earmark every donation I make to the school) in any way you want. the issue has never been not having money, its not spending the money or go above and beyond to spend money towards athletics. they run athletics like we did in the 80s and don't change with the times (we don't make the same investment into the program). if every donor didn't ear mark towards a specific purpose or school and just sent it to the president initiatives, then it can be used towards different things or if they earmark their donation to athletics only

 

[hoops156]

Absolute mismanagement of the University’s money. They should be made to pay out of their own pockets, every decision maker involved.

EVERYONE KNOWS WE PAID TEMPLES BUYOUT. that was NEVER a secret. Idk where this OH **** SURPRISE WE PAID MONEY TO TEMPLE! that wasn't a thing. when we hired Manny, it was publicly known we paid the temple buyout. the means to how it was paid was just seen in the docs presented

 

[Unsider]

I’ll keep beating the drum; we don’t have a talent issue here at this school, it’s not a $ or resource problem (w/ a capital P), it is a lack of leadership problem. For yrs all of Miami’s doings were kept lock & key since they r a Private Institution; but now, more & more **** is starting to leak. It’s funny b/c every time they wanna pat themselves on the back for a project they have interest in, it undermines their “broke” narrative. Now that we know they can utilize donations anyway they see fit, lord knows where donations provided by boosters for the program have gone.

We’re beyond the “Where there’s smoke, there’s a fire” phase. The state of our Athletics are the flames. I’m no expert. I’m not even smart. But I know when I’m being burned.

 

[Rellyrell]

you can't utilize the donations that are earmarked towards a purpose (I earmark every donation I make to the school) in any way you want. the issue has never been not having money, its not spending the money or go above and beyond to spend money towards athletics. they run athletics like we did in the 80s and don't change with the times (we don't make the same investment into the program). if every donor didn't ear mark towards a specific purpose or school and just sent it to the president initiatives, then it can be used towards different things or if they earmark their donation to athletics only

Excuse me, but didn’t a BOT member go on record anonymously & state the opposite? Unless it is given directly to the AD for a very specific reason (i.e IPF, Lockerroom?)

Edit: we’re saying the same thing, I just didn’t specify.

 

[hoops156]

Excuse me, but didn’t a BOT member go on record anonymously & state the opposite? Unless it is given directly to the AD for a very specific reason (i.e IPF, Lockerroom?)

no those donations were made towards the IPF or athletics in general. take a look at the momentum campaign. the 55 million dollar donation the millers made was earmarked towards UM Med. that means the money went there and not to football or anywhere else. they can't use specifically targeted donations and use it as they see fit. it would be a HUGE mess legally.

Ever Brighter | University of Miami | The Campaign for our Next Century

welcome.miami.edu

the BOT member said the school doesn't use donations to the athletic dept, etc. to pay for staff salaries when he was talking about the Mario buyout and subsequent hiring.

 

[Rellyrell]

no those donations were made towards the IPF or athletics in general. take a look at the momentum campaign. the 55 million dollar donation the millers made was earmarked towards UM Med. that means the money went there and not to football or anywhere else. they can't use specifically targeted donations and use it as they see fit. it would be a HUGE mess legally.

Ever Brighter | University of Miami | The Campaign for our Next Century

welcome.miami.edu

the BOT member said the school doesn't use donations to the athletic dept, etc. to pay for staff salaries when he was talking about the Mario buyout and subsequent hiring.

So in other words, u have to specify completely how ur donations are to be used. Otherwise, if not specified, then it can be used in anyway the University sees fit, correct?

 

[hoops156]

So in other words, u have to specify completely how ur donations are to be used. Otherwise, if not specified, then it can be used in anyway the University sees fit, correct?

basically yes. they try to push you towards the presidents intiative or greatest needs or w.e. its called which gives the school discretion to use it where the greatest needs are

 

[hoops156]

So in other words, u have to specify completely how ur donations are to be used. Otherwise, if not specified, then it can be used in anyway the University sees fit, correct?

Miami Announces Crowdfunding Campaign for IPF

miamihurricanes.com

this is the IPF campaign. it was a specific campaign towards raising money for the IPF

 

[Fluffhead]

OK, revised numbers.

Earlier, I said $6.667 million based on an assumed 40% blended fed-state tax rate. But I thought about it, and Manny would be paid his payroll in Florida, which has no state income tax. What Manny does with the money is up to him.

So at 37% fed tax rate, Manny would have been paid $6.35 million so that he could pay the $4 million buyout to Temple.

Thus, Beta Blake paid $6.35 million to get Manny back from Temple after 2 weeks. That's a steep price to pay, when coupled with "no national search" and "picked a new coach in a matter of hours".

Plus the $1.33 excise tax to the IRS. So $7.7m in buyout money.

 

[Tad Footeball]

Funny thing is I bet Manny would've been canned at Temple by the end of this year. So we could've just moved Richt to AD, made Jon Richt and Banda co-head corches and had at least the same level of success minus all this wasted money and angst.

 

[Sh0wty]

So, was it worth it? What the average salary of a 7-5 coach?

Sadly, you can find this information by looking at our previous four head coaches..

 

[Rellyrell]

basically yes. they try to push you towards the presidents intiative or greatest needs or w.e. its called which gives the school discretion to use it where the greatest needs are

Ty for the breakdown & clarification.

My ? would be, how many of those donations have been specified towards athletics vs the assumption of ‘I’m donating towards The University w/ the intent of helping the program?’

For instance; one of my former colleagues & boys is an alum & booster of UT. He gives in general, but as he stated, UT is big on athletics & education so he has no doubt that some of his general donations are being used towards both, and when called upon specifically for an athletic or academic need, it’s earmark specifically for those purposes. (I just texted him to inquire). I asked did he earmark his monthly contributions, and he said there’s no need b/c UTs admin have always been balanced w/ education & athletics, and for them, athletics is just as big of a need as education b/c of the huge endorsement deals & revenue it generates.

 

[hoops156]

Funny thing is I bet Manny would've been canned at Temple by the end of this year. So we could've just moved Richt to AD, made Jon Richt and Banda co-head corches and had at least the same level of success minus all this wasted money and angst.

well Richt did have a heart attack right after he left Miami so wed prolly be left Jon as HC