Why Iowa won’t fire Fran McCaffery despite basketball team’s woes

[BleedGopher]

per Scott Dochterman:

The only speculation surrounding Fran McCaffery’s job status comes from media and thousands of Iowa men’s basketball fans. There’s no way anyone inside the athletics department is advocating for the head coach’s termination — simply because of the cost.

According to an extension signed by McCaffery, Iowa athletics director Gary Barta and University of Iowa President Bruce Harreld on Nov. 29, 2017, the school would owe McCaffery $10.2 million if it fired him before July 1, 2018. That number falls to $9 million due McCaffery if he is fired before July 1, 2019, and decreases annually through the 2023-24 season. The recent contract was obtained by Land of 10 via state open-records laws.

McCaffery’s previous contract — signed June 23, 2016, and in place before the November extension — allowed for a $4.6 million payout if he were fired after this season. Should the coach opt for another job before the 2023-24 season, he would owe Iowa athletics $2 million. That’s up from $1 million previously.

A $10.2 million payout is heavy for any sport but astronomical for a men’s basketball coach. Iowa would owe football coach Kirk Ferentz $23.6 million if he were fired without cause now. That’s high for football coaches, too.

If McCaffery’s squad somehow qualifies for the NCAA Tournament this season, Iowa will pay him $2.6 million in salary and guaranteed compensation for 2018-19. If the Hawkeyes fail to qualify for an NCAA Tournament berth, McCaffery’s guaranteed income is $2.3 million.

Even if Iowa’s on-court performance this year warranted McCaffery’s dismissal, the athletics department would struggle to meet the severance, which would be paid in monthly installments. Last summer, Iowa’s athletics department paid $6.5 million to settle lawsuits by former administrator Jane Meyer and former field hockey coach Tracey Griesbaum after a Polk County Jury found it guilty of discrimination based on gender and sexual orientation and retaliation against Meyer. That settlement depleted department reserves, which had grown to around $9 million.

https://www.landof10.com/iowa/iowa-...f10_Iowa&utm_source=Twitter&utm_medium=Social

Go Gophers!!

 

[Zeppelin Gopher]

Meh, I don't think Fran is (or should be) on the hot seat regardless of his contract.

Surely he's built up enough equity to survive a poor season?

 

[cjbfbp]

Meh, I don't think Fran is (or should be) on the hot seat regardless of his contract.

Surely he's built up enough equity to survive a poor season?

Yes, I think he has, but their AD is an idiot when it comes to giving coaching contracts to the top sports (maybe he's good at the rest of his job). There's no way McCaffrey or Ferentz should have buyouts of 10.2 and 23 + million respectively. Neither one of them are worth that much.

Makes us think much better of the U of M contracts. At least Pitino won't have to be paid over 10 million if he is fired.

 

[imthewalrus]

Even if Dick Pitino continues at his current pace of wins vs. losses in Big Ten...

Yes, I think he has, but their AD is an idiot when it comes to giving coaching contracts to the top sports (maybe he's good at the rest of his job). There's no way McCaffrey or Ferentz should have buyouts of 10.2 and 23 + million respectively. Neither one of them are worth that much.

Makes us think much better of the U of M contracts. At least Pitino won't have to be paid over 10 million if he is fired.

play: it will be between 3 and 4 years before the current AD could afford to buy him out and hire a big $$$$$ coach & staff to replace him...

Minnesota has contracted itself to death too. It is good to be a coach with a large buy out. And, that is a fact of life.