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Topic: OT: Colorado State stands TOUGH
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Kevin Finnegan
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Posted: 12/4/2014 4:46 PM
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Did anybody see Pat Forde's piece on Colorado State standing up to Florida on the buyout of Jim McElwain? Just weeks ago, McElwain signed an extension with the school. Included in the contract was a $7 million buyout! Colorado State wouldn't let Florida walk all over them with the deal, so they worked out the following:

--$3 million paid over six years by university
--$2 million paid by Jim McElwain
--$2 million big money game down in Gainesville b/w CSU and UF. That's a far bigger payout than most would likely get going to Florida.

The $2 million for that game is the one part I haven't decided if I like. Would it have been better for CSU to give Florida a million off the buyout and ask for a 1-and-1 deal? Having UF visit CSU would've been a coup, and it would immediately help the next coach in the recruiting world, I'd think.
Ohio69
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Posted: 12/4/2014 4:57 PM
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finnOhio wrote:expand_more
Did anybody see Pat Forde's piece on Colorado State standing up to Florida on the buyout of Jim McElwain? Just weeks ago, McElwain signed an extension with the school. Included in the contract was a $7 million buyout! Colorado State wouldn't let Florida walk all over them with the deal, so they worked out the following:

--$3 million paid over six years by university
--$2 million paid by Jim McElwain
--$2 million big money game down in Gainesville b/w CSU and UF. That's a far bigger payout than most would likely get going to Florida.

The $2 million for that game is the one part I haven't decided if I like. Would it have been better for CSU to give Florida a million off the buyout and ask for a 1-and-1 deal? Having UF visit CSU would've been a coup, and it would immediately help the next coach in the recruiting world, I'd think.
Wow. I'm not a fan of these buyouts. But, if you can get $7 million you should take it.
L.C.
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Posted: 12/4/2014 5:36 PM
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finnOhio wrote:expand_more
...
--$2 million big money game down in Gainesville b/w CSU and UF. That's a far bigger payout than most would likely get going to Florida.
...

Since they would normally have gotten perhaps $800k for the game, they essentially gave Florida an $800k discount off the $7 million, didn't they?
perimeterpost
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Posted: 12/4/2014 5:47 PM
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not a fan of buyouts? you know what I'm not fan of, a sports league divided into Haves and Have Nots that shares league revenue 70/27, insuring that any team from the group of Haves will always be able to take any coach it wants from the group of Have Nots. That's what I'm not a fan of.
mf279801
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Posted: 12/4/2014 6:06 PM
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finnOhio wrote:expand_more
The $2 million for that game is the one part I haven't decided if I like. Would it have been better for CSU to give Florida a million off the buyout and ask for a 1-and-1 deal? Having UF visit CSU would've been a coup, and it would immediately help the next coach in the recruiting world, I'd think.
I saw online today that Florida hasn't played an out-of-state non-conference game since 1991 or something like that. I'm guessing they'd rather pay an extra million than play in Fort Collins (and I saw something on twitter today indicating that Florida had actually been presented with the option of saving a significant sum of money in exchange for the game being played in Ft. Collins or Denver but refused)
Mark Lembright '85
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Posted: 12/4/2014 6:41 PM
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mf279801 wrote:expand_more
The $2 million for that game is the one part I haven't decided if I like. Would it have been better for CSU to give Florida a million off the buyout and ask for a 1-and-1 deal? Having UF visit CSU would've been a coup, and it would immediately help the next coach in the recruiting world, I'd think.
I saw online today that Florida hasn't played an out-of-state non-conference game since 1991 or something like that. I'm guessing they'd rather pay an extra million than play in Fort Collins (and I saw something on twitter today indicating that Florida had actually been presented with the option of saving a significant sum of money in exchange for the game being played in Ft. Collins or Denver but refused)
I'm not a fan of that! The SEC teams need to head north of the Mason-Dixon Line to play teams here in the North!!!!
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Posted: 12/4/2014 9:20 PM
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mf279801 wrote:expand_more
The $2 million for that game is the one part I haven't decided if I like. Would it have been better for CSU to give Florida a million off the buyout and ask for a 1-and-1 deal? Having UF visit CSU would've been a coup, and it would immediately help the next coach in the recruiting world, I'd think.
I saw online today that Florida hasn't played an out-of-state non-conference game since 1991 or something like that. I'm guessing they'd rather pay an extra million than play in Fort Collins (and I saw something on twitter today indicating that Florida had actually been presented with the option of saving a significant sum of money in exchange for the game being played in Ft. Collins or Denver but refused)
That must mean road game, since we played there in 2002.
mf279801
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Posted: 12/4/2014 11:38 PM
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Deciduous Forest Cat wrote:expand_more
The $2 million for that game is the one part I haven't decided if I like. Would it have been better for CSU to give Florida a million off the buyout and ask for a 1-and-1 deal? Having UF visit CSU would've been a coup, and it would immediately help the next coach in the recruiting world, I'd think.
I saw online today that Florida hasn't played an out-of-state non-conference game since 1991 or something like that. I'm guessing they'd rather pay an extra million than play in Fort Collins (and I saw something on twitter today indicating that Florida had actually been presented with the option of saving a significant sum of money in exchange for the game being played in Ft. Collins or Denver but refused)
That must mean road game, since we played there in 2002.
Yes, I meant that to be read as "Florida has not played a regular season non-conference game outside the state of Florida since 1991 (or something like that)"
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Posted: 12/5/2014 2:15 AM
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L.C. wrote:expand_more
...
--$2 million big money game down in Gainesville b/w CSU and UF. That's a far bigger payout than most would likely get going to Florida.
...

Since they would normally have gotten perhaps $800k for the game, they essentially gave Florida an $800k discount off the $7 million, didn't they?
SEC payouts are considerably more than 800k for an opponent like CSU in a money game.
OUcats82
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Posted: 12/5/2014 6:09 AM
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Forgive me if I am being naive but it seems to be that CSU held their ground on this and Florida had to foot the bill as it was listed. If that's what really happened, good for the Rams. It's refreshing that someone had to actually pay the price instead of worming their way into something that benefited them.
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Posted: 12/5/2014 7:26 AM
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If he signed this contract extension a couple of weeks ago I have to feel like CSU knew he was going to be signed somewhere pretty soon. Since this deal got done fairly quickly, Florida may have been talking to him early on and knew they were going after him as soon as the season was over. Maybe CSU found out and said "hey, here's a new contract, but we're not letting you go that easy."

Kudos to CSU. I wouldn't be surprised to see more schools do this. Most Power 5 schools like Florida have deep enough pockets to pay just about whatever they want. Winning football games is important and they're willing to pay for a quality coach.
L.C.
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Posted: 12/5/2014 8:42 AM
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BillyTheCat wrote:expand_more
...
--$2 million big money game down in Gainesville b/w CSU and UF. That's a far bigger payout than most would likely get going to Florida.
...

Since they would normally have gotten perhaps $800k for the game, they essentially gave Florida an $800k discount off the $7 million, didn't they?
SEC payouts are considerably more than 800k for an opponent like CSU in a money game.

OK, an SEC money game is $1 million?

That brings me back to the question of why CSU gave up $1 million in this settlement, instead of insisting on the full price? What they settled for is $5 million cash, plus about $1m more than normal for a "money game", a total of $6 million. They get $7 million, but the other million is what they normally would have gotten for the game.
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Posted: 12/5/2014 8:55 AM
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L.C. wrote:expand_more
...
--$2 million big money game down in Gainesville b/w CSU and UF. That's a far bigger payout than most would likely get going to Florida.
...

Since they would normally have gotten perhaps $800k for the game, they essentially gave Florida an $800k discount off the $7 million, didn't they?
SEC payouts are considerably more than 800k for an opponent like CSU in a money game.

OK, an SEC money game is $1 million?

That brings me back to the question of why CSU gave up $1 million in this settlement, instead of insisting on the full price? What they settled for is $5 million cash, plus about $1m more than normal for a "money game", a total of $6 million. They get $7 million, but the other million is what they normally would have gotten for the game.
But on the flip side, maybe Florida wouldn't want to schedule them in the first place? Maybe that's an added bonus for CSU. Some schools are worried to schedule teams like that because the possibility of upset on their home turf is too great.
Kevin Finnegan
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Posted: 12/5/2014 9:08 AM
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GoCats105 wrote:expand_more
If he signed this contract extension a couple of weeks ago I have to feel like CSU knew he was going to be signed somewhere pretty soon. Since this deal got done fairly quickly, Florida may have been talking to him early on and knew they were going after him as soon as the season was over. Maybe CSU found out and said "hey, here's a new contract, but we're not letting you go that easy."

Kudos to CSU. I wouldn't be surprised to see more schools do this. Most Power 5 schools like Florida have deep enough pockets to pay just about whatever they want. Winning football games is important and they're willing to pay for a quality coach.
The question here then becomes, why did McElwain sign that contract? Nobody's forced to sign an extension. He knew he was a hot commodity. Now he himself is on the hook for $2 million. I'd be looking to fire my agent today after having that put into a contract when I was willing to leave for the right offer.
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Posted: 12/5/2014 9:21 AM
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finnOhio wrote:expand_more
If he signed this contract extension a couple of weeks ago I have to feel like CSU knew he was going to be signed somewhere pretty soon. Since this deal got done fairly quickly, Florida may have been talking to him early on and knew they were going after him as soon as the season was over. Maybe CSU found out and said "hey, here's a new contract, but we're not letting you go that easy."

Kudos to CSU. I wouldn't be surprised to see more schools do this. Most Power 5 schools like Florida have deep enough pockets to pay just about whatever they want. Winning football games is important and they're willing to pay for a quality coach.
The question here then becomes, why did McElwain sign that contract? Nobody's forced to sign an extension. He knew he was a hot commodity. Now he himself is on the hook for $2 million. I'd be looking to fire my agent today after having that put into a contract when I was willing to leave for the right offer.
He may have knew he was a hot commodity and even an inkling that he may leave, but nothing is ever guaranteed until the new position is offered. And he didn't know that this was going to happen. I have a feeling that most of that $2 million he will be paying is going to be Florida anyway.
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Posted: 12/5/2014 10:05 AM
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Somewhere, Geno Ford laughs.
L.C.
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Posted: 12/5/2014 10:13 AM
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GoCats105 wrote:expand_more
...I have a feeling that most of that $2 million he will be paying is going to be Florida anyway.

Exactly. I'm sure he insisted on enough from Florida to offset this.
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Posted: 12/5/2014 10:40 AM
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Everyone robs from everyone else. I'm sure CSU will go out and poach a coach from a lower-level conference since they can offer them more money than someone in the Sun Belt or FCS. My favorite example of this is Brian Kelly and how irate UC fans were when Notre Dame "stole" him. Didn't they do the same to CMU? Didn't CMU do the same to Grand Valley State? Then they went back to CMU to steal Butch Jones, who then ditched UC for Tennessee.
Kevin Finnegan
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Posted: 12/5/2014 2:25 PM
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L.C. wrote:expand_more
...I have a feeling that most of that $2 million he will be paying is going to be Florida anyway.

Exactly. I'm sure he insisted on enough from Florida to offset this.
Okay, but that doesn't make sense to me. Why not just have the school pay? Unless this payment back to CSU is tax-exempt (which maybe it is), I don't see the logic behind getting paid, and thus, taxed on $4 million, paying out $2 million to CSU, rather than just getting a $2 million salary (and the corresponding taxes) and having CSU pay UF the other $2 million.

Also, as to the extension: He may not have known that UF was going to come knocking at his door (again, poor work by his agent not to know that when the writing's been on the wall that UF would be looking elsewhere), but he likely knew that whatever extension CSU was offering in November would be available in January or February, after the dust settles. Plus, if he waited until January or February, he might have a significant bowl win to hang his hat on to take into negotiations.
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Posted: 12/5/2014 2:56 PM
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The story I read originally said McElwaine would pay the $2 mill "over time". There has to be a carrot in that phrase for someone.

Forgivable "loan", perhaps, for some face savings on all sides; payments tied to future income; etc, etc.

It's hard to see a guy handing over $2 million he doesn't have yet.
Monroe Slavin
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Posted: 12/5/2014 9:04 PM
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LC--they may have left a little on the table, but that's a helluva lot less than the legal fees to enforce the contract should Florida have disputed payment.


Am I the only one who cares a whole lot about O H I O...and extremely little about all this other useless noise about/from other, lesser schools.
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Posted: 12/5/2014 9:10 PM
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Yes
Deciduous Forest Cat
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Posted: 12/5/2014 9:46 PM
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Monroe Slavin wrote:expand_more
LC--they may have left a little on the table, but that's a helluva lot less than the legal fees to enforce the contract should Florida have disputed payment.


Am I the only one who cares a whole lot about O H I O...and extremely little about all this other useless noise about/from other, lesser schools.
This is of interest because we could be in CSU's shoes someday (We certainly won't be in Florida's). Also, interesting when compared to the s**tstorm between Bradley and Kent a few years ago when Geno left the MAC.
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