The Money Myth

[Consigliere]

Part 1: Coaching Salaries

A lot of people think that we can’t pay a coach a lot of money. This is simply bullchit. Not only do we pay them a good salary, we tend to pay them MORE when you figure in the buyout. Al Golden (2M-2.3M) will end up likely around 3.0-3.M per year when you add in the buyout. The problem is we spend our money foolishly. Even ignoring our stupidity (i.e. necessary extensions), our Admin choose to go down this road (buyout city) because they love to spend illogically. They make a ton of foolish decisions and simply waste money.

This is why I constantly tell people to STFU about the buyout.

First (like myself), you don’t know the pertinent terms so you sound like an idiot speaking about it.

Second and more importantly, it MUST be done if no one will take ALbort off our hands.

Finally, the other interesting thing is the Maryland Exit Fee. We can use our portion of this towards the buyout as it is a windfall. It may not cover all of the buyout, but it is free money so use it wisely.

http://articles.baltimoresun.com/20...08_1_exit-fee-conference-revenues-acc-members

Part 2: ACC Revenues from Football

In 2013-14, the ACC distributed $20.8M to each team in the ACC. This was almost identical to the SEC. This new TV deal (done May, 2012) was an increase of $4M per year from the 2010 contract (when ALbort was hired). Things are much different from when ALbort was hired or when RS was hired. We have much more money and that is simply by belonging to the ACC and the new contract. Our new deal will pay us $60M more over the life of the deal. We don’t even have to field a good team and we get paid. This is not to mention that we make money outside of belonging to the ACC (tickets, merchandise, parking etc.).

http://espn.go.com/college-football...917-million-total-revenue-2013-14-fiscal-year

http://www.newsobserver.com/2012/05/10/2054760/acc-espn-agree-on-36-billion-tv.html

 

[Tad Footeball]

We cry poverty but that couldn't be more false:

http://www.canesinsight.com/threads...ts-to-Talk-About-What-We-Can-quot-AFFORD-quot

 

[Pentagon Cane]

My understanding is when he was given an extension the buy out terms were more favorable for the university under the renegotiation. Our expenses are a **** of a lot higher than most schools even within the conference. That being said I don't think the buyout is the issue at all. I think we pay in the $3 million range for the next guy without blinking an eye.

 

[Sonny Long]

We cry poverty but that couldn't be more false:

http://www.canesinsight.com/threads...ts-to-Talk-About-What-We-Can-quot-AFFORD-quot

Plus, read this: http://www.bizjournals.com/southflo...rsity-of-miami-scores-big-financial-gain.html

 

[Pentagon Cane]

These are different buckets of money. That being said the athletic department is not in the red. A buyout is manageable.

 

[McGahee2TheHouse]

More evidence that the usual suspects on this website are absolute ******* morons.

 

[DapperSlapper]

These are different buckets of money. That being said the athletic department is not in the red. A buyout is manageable.

The athletic dept was in the red for the 2nd straight year (for specific reasons though). The reality is that revenue has gone up tremendously in the last 5 years or so (will post those numbers in a minute). These are the financials for the fiscal year that ended 5/31/14:

Total Expenses by Team
Varsity Teams	Men's Teams	Women's Teams	Total
Basketball	$5,753,784	$3,723,358	$9,477,142
Football	$27,922,382		$27,922,382
Total Expenses of all Sports, Except Football and Basketball, Combined	$5,454,363	$9,039,401	$14,493,764
Total Expenses Men's and Women's Teams	$39,130,529	$12,762,759	$51,893,288
Not Allocated by Gender/Sport			$19,892,690
Grand Total Expenses			$71,785,978
CAVEAT
​

Total Revenues by Team
Varsity Teams	Men's Teams	Women's Teams	Total
Basketball	$7,902,331	$831,076	$8,733,407
Football	$33,528,906		$33,528,906
Total Revenues of all Sports, Except Football and Basketball, Combined	$2,773,778	$4,304,668	$7,078,446
Total Revenues Men's and Women's Teams	$44,205,015	$5,135,744	$49,340,759
Not Allocated by Gender/Sport			$22,445,219
Grand Total for all Teams (includes by team and not allocated by gender/sport)			$71,785,978
CAVEAT
​

Revenues and Expenses Summary
		Men's Teams	Women's Teams	Total
1	Total of Head Coaches' Salaries	$4,822,824	$1,525,068	$6,347,892
2	Total of Assistant Coaches' Salaries	$3,897,396	$838,544	$4,735,940
3	Total Salaries (Lines 1+2)	$8,720,220	$2,363,612	$11,083,832
4	Athletically Related Student Aid	$9,447,598	$6,842,664	$16,290,262
5	Recruiting Expenses	$896,818	$274,945	$1,171,763
6	Operating (Game-Day) Expenses	$8,475,649	$1,776,590	$10,252,239
7	Summary of Subset Expenses (Lines 3+4+5+6)	$27,540,285	$11,257,811	$38,798,096
8	Total Expenses for Teams	$39,130,529	$12,762,759	$51,893,288
9	Total Expenses for Teams Minus Subset Expenses (Line 8 – Line 7)	$11,590,244	$1,504,948	$13,095,192
10	Not Allocated Expenses		$19,892,690
11	Grand Total Expenses (Lines 8+10)		$71,785,978
12	Total Revenues for Teams	$44,205,015	$5,135,744	$49,340,759
13	Not Allocated Revenues		$22,445,219
14	Grand Total Revenues (Lines 12+13)		$71,785,978
15	Total Revenues for Teams minus Total Expenses for Teams (Line 12-Line 8)	$5,074,486	-$7,627,015	-$2,552,529
16	Grand Total Revenues Minus Grand Total Expenses (Line 14- Line 11)		$0

Supplemental Information

Expenses exceeded Revenues for the year by $2,784,279. The University covered this difference. This figure is included in Total Revenues Not Allocated.​

 

[Pentagon Cane]

Okay, thanks. I thought we broke even.

 

[DapperSlapper]

These are the revenue figures on a yearly basis since 2003. In the majority of these years, the AD finished in the black.

2003: $47,470,707

2004: $39,755,862

2005: $41,612,310

2006: $49,219,738

2007: $46,849,990

2008: $61,969,808

2009: $56,084,064

2010: $60,325,003

2011: $62,099,601

2012: $67,253,273 2013: $71,785,928

The 2012-2013 revenue figure included a $1.7 millionish subsidy from the university (can't remember the exact number, and I don't feel like digging it up right now), and, as you can see above, the 2013-2014 figure includes almost $2.8 million in a university subsidy.

 

[Consigliere]

My understanding is when he was given an extension the buy out terms were more favorable for the university under the renegotiation. Our expenses are a **** of a lot higher than most schools even within the conference. That being said I don't think the buyout is the issue at all. I think we pay in the $3 million range for the next guy without blinking an eye.

I wouldn't be shocked if the annual base salary was north of $3.5M for the next coach.

Remember everyone, Florida has no state income tax (average is ~5%. Every $1M in salary nets an extra $50,000.00 in savings.

 

[LuCane]

I repeat:

If the University and its primary businesses (Health) aim to be at the cutting edge, the football program should be considered a marketing arm. To do that, create a brand and product that match. Take a step by inserting leaders with a focus on continuous innovation. Expenses are investments to the bigger picture.

 

[Consigliere]

Just to bump a thread with facts. If you take into consideration our new (potential) deal with Adidas, we're getting 3 Million more. Let's say of that 3 Million, $1.5 Million is additional cash.

So we're getting an additional $4 Million from new TV deal + $1.5 Million from Adidas. That is an additional $5.5 Million per year that should go directly into the sports program. This is that post ALbortion extension as well.

At least $4 Million of that amount should go into Football (directly) for salaries and improvements. We're not a poor school, we just have retarded people crying poor us and not giving it back to where it should go.

Don't believe we're poor.

 

[Consigliere]

I just want to bump this thread another time, since the new deal came through with Adidas.

On 11/25/11 [PER ESPN] Al Golden signed the extension [Footnote 1].

Since the extension, the following happened:

Additional Yearly Income

May, 2012: The ACC signs a new TV deal which pays us an ADDITIONAL $4.1M per season [Footnote 2]

January, 2015: Miami signs a new endorsement/apparel deal. Although the specifics are unknown, let's say conservatively we will make between $1.5M - $2M additionally each year.

One Time Benefit

August, 2014: The ACC negotiated and agreed to the exit fee with Maryland in the amount of $31 Million [Footnote 3]. Let's assume that 50% was distributed to the 10 teams (the other 50% for lawyers and court fees) so each team would get about $1.5 M (this is a one time fee).

On an annual basis, UM will make between $5.6M - $6.1M in ADDITIONAL MONEY per season. This is SINCE we extended Golden in November, 2011.

If you factor in the windfall from Maryland, we have an additional $7.1M-$7.6M in 2015.


Footnote 1: http://espn.go.com/college-football...iami-hurricanes-agree-contract-extension-2020

Footnote 2: http://www.newsobserver.com/2012/05/10/2054760_acc-espn-agree-on-36-billion-tv.html?rh=1

Footnote 3: http://articles.baltimoresun.com/20...08_1_exit-fee-conference-revenues-acc-members

 

[Johnson2TheJailHouse]

UM doesn't have money. Fact.

 

[Consigliere]

Poor Miami or We're Just Stupid?

Just to reiterate the ongoing theme in this thread. I want people to focus on the link below.

In 2014 the ACC, every team (not Notre Dame) gets almost $21M just to show up and field a team. There is no accountability with the money, you don't have to field a competitive team or even prove you spend it on the program. FSU gets $21M, Wake Forest gets $21M and we get $21M.

I think porsters need to stop believing the hype that we're poor. We're not poor, we're just stupid. We have no leadership, no accountability and no one who really cares. These are all "fixable" issues.

The $20.8 million average each school is in line to receive is nearly identical to what will go to the 14-team SEC, which announced last week it will hand out slightly more than $20.9 million to its member schools after a record $292.8 million in total revenue.

http://espn.go.com/college-football...917-million-total-revenue-2013-14-fiscal-year

 

[DeadPoets]

Shalala raised roughly 3 billion dollars in the last 10 years or so.

 

[CaneInHeelCountry]

Shalala raised roughly 3 billion dollars in the last 10 years or so.

Nearly all of it was earmarked by the donor for academic/research purposes. Not sure why people can't understand this.

 

[DeadPoets]

Shalala raised roughly 3 billion dollars in the last 10 years or so.

Nearly all of it was earmarked by the donor for academic/research purposes. Not sure why people can't understand this.

Bullsh!t

 

[Consigliere]

Shalala raised roughly 3 billion dollars in the last 10 years or so.

Nearly all of it was earmarked by the donor for academic/research purposes. Not sure why people can't understand this.

Not sure why you haven't responded in this thread?

https://www.canesinsight.com/threads/84204-Michigan-s-BOT-vs-Ours/page4

 

[NateDogg]

At this point I would be less surprised if Donna announced an initiative to channel parts of that $21MM to welfare for sofla residents than towards buying out our fat fvkk corch