SBD/December 5, 2014/Colleges

Print All
  • Florida Agrees To Largest-Ever Buyout Deal To Land Colorado State's Jim McElwain

    McElwain will directly pay CSU $2M over an unspecified period of time

    The Univ. of Florida on Thursday hired Colorado State football coach Jim McElwain, and as part of CSU's contract with him, the school received a total buyout of $7M, including $5M in cash. The buyout is the largest in college football history, eclipsing the $4.3M Texas paid Louisville to hire away coach Charlie Strong earlier this year. In addition to the cash portion of the buyout, CSU will be paid $2M to play a football game at Florida, which has not yet been scheduled. The $7M total payment to CSU is 93% of the buyout value of the contract with McElwain (CSU). In Colorado, Kelly Lyell notes CSU will receive $3M "over a six-year period" from UF's athletic department, $2M "directly from McElwain over an unspecified period of time" and a $2M guarantee from Florida for the yet-to-be-scheduled game. McElwain "signed a six-year deal with Florida with a total compensation package" that averages $3.5M a year. His "base salary at CSU" was $1.5M (Ft. Collins COLORADOAN, 12/5). In Orlando, Edgar Thompson noted McElwain's original CSU contract "stated if he were to leave, the buyout would be due within 30 days." Meanwhile, UF "already owes" recently fired coach Will Muschamp and his staff more than $8M, with $6M due to Muschamp. He will receive $2M per year "for the life of the contract, which expires" after the '17 season (ORLANDOSENTINEL.com, 12/4). SI.com's Andy Staples noted McElwain "agreed to a 10-year contract extension this summer" at CSU that included a $7.5M buyout. It also "included language that suggested the buyout could be negotiated down if a 'dream job' came along." This was "an odd addition to the contract, because a university always has the option to reduce or waive a buyout owed to it" (SI.com, 12/4).

    ABOUT THAT NEW FORT? CSU said that its haul in McElwain's departure "is around a fifth of the athletic department’s annual budget." CSU President Tony Frank said that the buyout money "will enable the school to hire a suitable replacement." He added that the McElwain buyout "has no bearing" on the school's proposed stadium project (WALL STREET JOURNAL, 12/5). In Denver, Terry Frei notes Frank is scheduled to meet with the CSU system BOG in Denver on Friday "to formally deliver his recommendation to move ahead with the on-campus stadium project." Frank on Thursday said, "The stadium is a long-term decision for the university that goes well beyond one individual. I will be making my same recommendation to the board tomorrow as scheduled." Frei notes CSU "now is operating with both" an interim AD and an interim head football coach in John Morris and Dave Baldwin, respectively (DENVER POST, 12/5).

    BUILT RAM TOUGH: In Denver, Mark Kiszla writes the new CSU football stadium "will be the House that Mac Built" thanks to his buyout. Frank deserves "credit ... for being a tough negotiator" (DENVER POST, 12/5). YAHOO SPORTS' Pat Forde wrote Florida luring McElwain from CSU "was a classic power move, another manifestation of the Darwinian landscape in modern college sports," in which "the strongest take what they want, and those down the food chain are expected to meekly submit." But Frank "wasn’t ready to be steamrolled" and now has a $7M agreement "as a result of showing some bartering backbone." McElwain and his agent, CAA's Jimmy Sexton, "never believed CSU would hold firm when the big boys came calling." But Sexton "clearly miscalculated." His "renowned clout ran up against Tony Frank’s resolve, and the ensuing standoff was fascinating" (SPORTS.YAHOO.com, 12/4). The AP's Pat Graham wrote CSU was able to "put a positive spin on losing a coach who has turned around a downtrodden program" by touting the buyout as the largest ever (AP, 12/4).

    FOLEY'S FOLLY? The ORLANDO SENTINEL's Thompson reports UF AD Jeremy Foley and his top administrators "were told by several people they could negotiate to reduce the buyout." But discussions "did not go so smoothly and it didn't help that they played out in the national spotlight" (ORLANDO SENTINEL, 12/5). In Jacksonville, Gene Frenette writes it would have "been a total embarrassment for Foley to lose" McElwain "over misunderstanding the buyout provision of his contract." Foley "must hit something close to a home run or his prevailing legacy with the Gators will be striking out on three of his four football coaches" (FLORIDA TIMES-UNION, 12/5).

    COACHING BUYOUTS OVER THE LAST THREE SEASONS
    COACH
    FROM
    TO
    BUYOUT
    Jim McElwain
    Colorado State
    Florida
    $5M*
    Charlie Strong
    Louisville
    Texas
    $4.375M
    Brian Harsin
    Arkansas State
    Boise State
    $1.75M
    James Franklin
    Vanderbilt
    Penn State
    $1.5M
    Steve Sarkisian
    Washington
    USC
    $1.5M
    Butch Jones
    Cincinnati
    Tennessee
    $1.4M
    Bobby Petrino
    Western Kentucky
    Louisville
    $1.2M
    Bret Bielema
    Wisconsin
    Arkansas
    $1M
    Todd Graham
    Pittsburgh
    Arizona State
    $1M
    Tommy Tuberville
    Texas Tech
    Cincinnati
    $900,000
           

    CHART NOTE: * = Deal includes promise of Colorado State-Florida football game in Gainesville, for which CSU will be paid an additional $2M.

    HEAD HUSKER: In Portland, Mike Tokito wrote Oregon State football coach Mike Riley's departure for Nebraska on Thursday "had one major benefit for Oregon State: It got the Beavers out from under the long contract they had with him." Riley was "believed to be the lowest-paid coach in the Pac-12" with a salary of $1.5M, but he "had something no other coach could touch: a practically lifetime deal." Riley's contract as part of an extension signed in '10 "included a provision that an additional year would be added each time the Beavers made a bowl game." The contract "was extended all the way" to '21. What made Riley's original contract with OSU in '03 "unique was the provision Riley insisted be written into it." He asked that a $1M buyout "be required if he left OSU in the first five seasons." The buyout "dropped to $725,000 in the sixth year, and $500,000 -- the amount Nebraska will pay OSU for Riley leaving -- in subsequent years" (OREGONLIVE.com, 12/4).

    Print | Tags: Colleges, SEC
  • Pylons, Fatheads Among New Bowl Gifts For '14-15, While Suites Return For Many Events



    SBJ's David Broughton and Brandon McClung talk about the annual college bowl gifts list
    Hair dryers, aloha shirts and belt buckles return as bowl gifts this season, but new to the roster are pylons and custom-made Fatheads, according to SportsBusiness Daily/Journal’s annual gift package rundown. All told, at least $5.4M will be spent on gifts that will be given to the '14-15 bowl game participants, up 11% compared with the expenditures of a year ago. The increase is fueled in part by the addition of several new bowls. In addition, two-thirds of the bowl game committees will be staging the increasingly popular gift suites or shopping sprees in the coming weeks, up from half the committees a year ago. The NCAA allows each bowl to award up to $550 worth of gifts to 125 participants per school. Schools can, and usually do, buy additional gifts that they can distribute to participants beyond that 125 limit. In addition, participants can receive awards worth up to $400 from the school and up to $400 from the conference for postseason play, covering both conference title games and bowl games.

    SOUNDS SUITE: Gift suites are set up as private events prior to the game in which game participants, and often bowl VIPs, are given an order form and allowed to select a gift, or gifts, up to a value that is predetermined by each bowl, not to exceed the NCAA limit. Roughly half the suites take place in the bowl’s host city, while the others are staged by the game’s committee on the campus of a participating college. Such will be the case for the teams taking part in the inaugural Popeyes Bahamas Bowl. Complete Sports Management Founder & President Lea Miller, whose firm operates the Bahamas Bowl, said that rather than deal with the taxes, customs and tariffs that would have been involved with getting gifts shipped to the islands, or hosting a suite on-site, it will be easier to host the events on the campuses of the respective schools playing in the game.

    MORE FROM THE NEW KIDS: This year’s new bowl games in Boca Raton, Fla., and Montgomery, Ala., also opted for gift suites for their inaugural offerings. The other two new, non-championship game committees opted to negotiate with vendors on their own. The Miami Beach Bowl, which is run by the American Athletic Conference and has a six-year rental agreement at Marlins Park, is providing players with, among other things, items from Under Armour, a top-tier corporate partner of the committee. The Quick Lane Bowl, which is run by the Lions, will be providing each participant in that game a custom-made Fathead with the player’s likeness. Fathead is based in Detroit.

    OLDIES, BUT GOODIES: The hair dryer (Hyundai Sun Bowl in El Paso), belt buckle (AdvoCare Texas Bowl in Houston) and aloha shirts (Hawaii Bowl in Honolulu) are long-standing gifts from the bowl committees in those respective cities. While a spokesperson for the New Era Pinstripe Bowl would not disclose the contents of that game’s gift packages, New Era officials said that bowl participants will receive a selection of the company’s products. Similarly, Goodyear Cotton Bowl reps would not disclose the contents of their gift packages. Organizers of the College Football Playoff national championship game also declined to provide details, but a spokesperson for the event said those participating players would not be visiting a gift suite -- as the committee knows that all the participants coming to that game would have already had that experience at the national semifinal games (Rose Bowl and Allstate Sugar Bowl) in the preceding days.

    EVENT
    GIFT
    SUITE?
    GIFT(S)
    R+L Carriers New Orleans Bowl
    Yes
    Fossil watch
    Gildan New Mexico Bowl
    Yes
    AudioSource Sound portable/mobile speaker; mobile phone charger; Oakley Works backpack; Oakley Enduro sunglasses/beanie; cap; Gildan blanket
    Royal Purple Las Vegas Bowl
    Yes
    Oakley Works backpack
    Famous Idaho Potato Bowl
    Yes
    Ohio backpack; winter coat; winter gloves; winter beanie; Big Game football
    Raycom Media Camellia Bowl
    Yes
    Fossil watch; cap; souvenir pylon; football
    Miami Beach Bowl
    No
    Under Armour sunglasses; Under Armour cap;
    Oakley Halifax backpack; electronics product
    Boca Raton Bowl
    Yes
    n/a
    San Diego County
    Credit Union Poinsettia Bowl
    No
    $395 Best Buy gift card; Fossil watch; cap
    Popeyes Bahamas Bowl
    Yes
    Ogio Marshall Pack backpack; New Era 39Thirty cap
    Hawaii Bowl
    Yes
    Oakley Holbrook sunglasses; Oakley Works backpack; Tori Richard aloha shirt; Pro Athletics t-shirt/shorts/swim trunks; beach towel
    Zaxby's Heart of Dallas Bowl
    Yes
    Ogio Marshall Pack backpack; beanie; Big Game football
    Quick Lane Bowl
    No
    $250 Best Buy gift card; Sony headphones; custom-made Fathead for each player with their likeness; various apparel; football
    Bitcoin St. Petersburg Bowl
    Yes
    Oakley Breadbox sunglasses; Oakley Works backpack
    Military Bowl
    No
    Microsoft Xbox One console; Under Armour backpack; Might Boom Ball speakers; beanie
    Hyundai Sun Bowl
    Yes
    Timely Watch Co. watch; Ogio Politan backpack;
    Helen of Troy hair dryer; Majestic fleece pullover; Top of the World cap
    Duck Commander
    Independence Bowl
    Yes
    Timely Watch Co. watch; New Era ski cap; football
    New Era Pinstripe Bowl
    No
    Variety of New Era products
    National University
    Holiday Bowl
    No
    $445 Best Buy gift card and shopping trip; Fossil watch; cap
    AutoZone Liberty Bowl
    No
    Sol Republic Deck Ultra wireless bluetooth speaker; Bulova watch; Nike athletic shoes/sport sandals/backpack; game ball
    Russell Athletic Bowl
    No
    $447 Best Buy gift card and shopping trip; watch; athletic performance shirt
    AdvoCare V100 Texas Bowl
    Yes
    adidas Team Speed duffel bag; cap; belt buckle
    Franklin American Mortgage
    Music City Bowl
    Yes
    Fossil watch
    Belk Bowl
    No
    Shopping trip to Belk department store; Fossil watch
    Foster Farms Bowl
    Yes
    Fossil watch
    Chick-fil-A Peach Bowl
    No
    $300 Vanilla Visa gift card; Chick-fil-A gift card; Apple TV; Fossil watch; football
    Vizio Fiesta Bowl
    Yes
    Fossil watch; Ogio Rogue backpack
    Capital One Orange Bowl
    Yes
    Tourneau watch
    Outback Bowl
    No
    $150 Best Buy gift card; Outback Steakhouse gift card; Fossil watch; Jostens rings; cap
    Goodyear Cotton Bowl Classic
    n/a
    Information not available; bowl committee would not disclose
    Buffalo Wild Wings Citrus Bowl
    No
    $447 Best Buy gift card and shopping trip; watch; athletic performance shirt
    Rose Bowl
    Yes
    Fossil watch; Oakley Works backpack; New Era 59Fifty cap
    Allstate Sugar Bowl
    Yes
    Fossil watch; New Era cap
    Lockheed Martin
    Armed Forces Bowl
    Yes
    Ogio Marshall Pack backpack; beanie; Big Game football
    TaxSlayer Bowl
    Yes
    Panasonic gift suite; Fossil watch
    Valero Alamo Bowl
    No
    GoPro Hero4 Silver camera and 32 GB memory card; Fossil watch; Oakley Works backpack; Schutt mini helmet; panoramic photo
    TicketCity Cactus Bowl
    Yes
    Fossil watch; Ogio Rogue backpack
    Birmingham Bowl
    Yes
    Oakley sunglasses; beanie; hooded sweatshirt; Big Game football
    GoDaddy Bowl
    No
    Sol Republic Tracks Air wireless/bluetooth on-ear headphones; watch; Coleman chair; military style backpack; Wilson football
    CFP Championship game
    n/a
    Information not available; bowl committee would not disclose
         

    NOTES: Product details are provided as they were available as of Dec. 4. Most watches, rings, clothing, luggage and footballs are custom-made with the bowl logo. Gift suites are set up as private events in which game participants, and often bowl VIPs, are given an order form and allowed to select a gift, or gifts, up to a value that is predetermined by each specific bowl, not to exceed the NCAA limit of $550 per person.

    Print | Tags: Colleges
Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug