Pruitt’s Contract and Buyout details

#101
#101
BeardedVol said:
Covid did no such thing. Pruitt is getting year 4, and most likely at least a portion of year 5 because Fulmer moronically extended his 6-year contract to 8 years before he'd even coached his 3rd season, tacking on $5 million onto his buyout.
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Covid didn't give our Athletic Department a 40-50 million dollar shortfall? Wow. I guess someone is embezzling or hiding money.....
 
#103
#103
VolArmy74 said:
Chris Loew said if we lose to Vandy he thinks it may spur enough booster anger to make the move.

How much do we suck when beating a winless Vandy team who has already fired their coach, has become a job saver at UT?

Loew said they'd be reluctant to move for financial reasons, and that Pruitt was getting a covid pass because so many players missed a lot of practice. He also said UT probably didn't want the instability to continue. Credit to Hyams who pointed out last week that keeping a coach you think isn't getting the job done just for stability is really stupid.

UT averaged 74,000 people actually in the stands per game last season. That's 28,000 empty seats. Add up ticket cost, concessions etc for those seats and you're looking roughly 10-12 million in lost revenue each season. Add that up for two or three seasons and it dwarfs the buyouts.

So the "can we afford to keep him" argument is legit. It was a major factor in South Carolina firing Muschamp early too. They feared he would cost them more than his buyout.
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And fans will flock to the first 2-3 home games next year at full capacity since they couldn't this year. And if Tennessee wins the first few games of the season decisively, people will shut up about the 2020 season just like they did at the end of the season last year about the 0-2 start.

In regards to Muschamp, this is the first time USC has fired a coach with a big buyout. There was clearly massive booster unity to finance his firing and buyout and a new coach. Tennessee isn't facing their first coach firing with a big buyout and there boosters are not unified in a direction to go (whether firing or keeping Pruitt). The situations are not even remotely close to comparable.


Congrats VolNation, Pruitt will be your coach next year and Fulmer, Thank God, will be your AD until he decides he doesn't want the job anymore.
 
#104
#104
finn said:
There are only 2 options at this point:

1. Fire CJP and friends, take the big financial hit on the front end and actually make a good hire. Doesn't have to be Bob Stoops just get a guy with actual HC experience.

2. Retain CJP and staff and hope they can turn things around next year while praying that the loss in revenue if they continue to suck does not exceed the one-time cost of Option 1.

Anything in between such as overhauling the staff is throwing good money after bad. Canning a bunch of assistants will cost a bundle in buy-outs and the last thing I want is Fulmer negotiating the next round of even more ridiculous buy-outs for the new staff since everyone knows Pruitt is essentially a dead man walking. In the end, as you said, we'll end up paying even more to fire the clown show next year not counting the loss in revenue from a fan base that has finally lost the will to get up after being punched in the mouth over and over and over.......
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Why would boosters commit to financing 25 million dollars to fire Pruitt and hire (insert new coach and staff) here that isn't guaranteed to work out, yet not be asked to cover the AD shortfall of 40-50 million dollars which would have a guaranteed outcome aka budget finishes balanced.
 
#106
#106
JMSqb11 said:
Covid didn't give our Athletic Department a 40-50 million dollar shortfall? Wow. I guess someone is embezzling or hiding money.....
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Pruitt's buyout is less than $7 million at the end of this season, and less then $5 million after next season, if Fulmer doesn't extend his contract two years and give him a $400k/raise.

The additional funds being paid to Pruitt, have zero to do with "covid shortfall" and everything to do with Fulmer being bad at his job as AD.
 
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#107
#107
BeardedVol said:
Pruitt's buyout is less than $7 million at the end of this season, and less then $5 million after next season, if Fulmer doesn't extend his contract two years and give him a $400k/raise.

The additional funds being paid to Pruitt, have zero to do with "covid shortfall" and everything to do with Fulmer being bad at his job as AD.
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But once again, you're saying Covid didn't impact the AD in the tune of 40-50 million dollars. That's not a smart statement to make.

It's also dumb to ask a bunch of millionaires and billionaires to finance 25 million dollars on a staffing change that is 50/50 to workout when they could commit that much and cut the budget shortfall by 50-70% which is a guaranteed outcome.

You'd get laughed out of town if you think we'd ask Boosters to cover 25 million on something that isn't certain instead of just asking for a full 70-75 million to cover shortfall completely and give new staff a clean and balanced state.

People who deny that Covid isn't impact the Athletic Department are delusional. But i give them a pass because JG all these years have really mind F'd us all.
 
#109
#109
JMSqb11 said:
But once again, you're saying Covid didn't impact the AD in the tune of 40-50 million dollars. That's not a smart statement to make.

It's also dumb to ask a bunch of millionaires and billionaires to finance 25 million dollars on a staffing change that is 50/50 to workout when they could commit that much and cut the budget shortfall by 50-70% which is a guaranteed outcome.

You'd get laughed out of town if you think we'd ask Boosters to cover 25 million on something that isn't certain instead of just asking for a full 70-75 million to cover shortfall completely and give new staff a clean and balanced state.

People who deny that Covid isn't impact the Athletic Department are delusional. But i give them a pass because JG all these years have really mind F'd us all.
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Covid shortfall has zero impact on the fact that Pruitt's buyout is currently over $12 million dollars, when it could and should be a more managable $6.84 million dollars, that could be paid out over 5 years where there will be no covid shortfall.
 
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#110
#110
BeardedVol said:
Covid shortfall has zero impact on the fact that Pruitt's buyout is currently over $12 million dollars, when it could and should be a more managable $6.84 million dollars, that could be paid out over 5 years where there will be no covid shortfall.
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The money is put into a trust upfront and paid out over time. If UT pulled the trigger they would need to cough up about $19-$20 upfront. That's a big figure.
 
#111
#111
I'll say it again. We can fire Pruitt, but we better have our replacement "in hand", and it better be a good one.
 
#112
#112
Boca Vol said:
The money is put into a trust upfront and paid out over time. If UT pulled the trigger they would need to cough up about $19-$20 upfront. That's a big figure.
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Not if Fulmer doesn't extend Pruitt, they are looking at $10-11 million, and the assistants have mitigation clauses.

It's not ideal, but it's far more palatable than keeping a HC who is obviously not the guy for the job, and Fulmer torpedoed any option to fire Pruitt by extending him.
 
#113
#113
BeardedVol said:
Not if Fulmer doesn't extend Pruitt, they are looking at $10-11 million, and the assistants have mitigation clauses.

It's not ideal, but it's far more palatable than keeping a HC who is obviously not the guy for the job, and Fulmer torpedoed any option to fire Pruitt by extending him.
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Is it possible that Fulmer extended Pruitt purely as a favor to Jimmy Sexton? It's the only logical thing that I can think of.
 
#114
#114
05_never_again said:
Is it possible that Fulmer extended Pruitt purely as a favor to Jimmy Sexton? It's the only logical think that I can think of.
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Honestly, I think it was a mixture of emotion-driven hubris, and preemptive self-preservation on Fulmer's part.

Fulmer is closer to the program than anybody, he probably had a feeling that this year was going to be a disaster, and decided to make it impossible for him to be asked to fire Pruitt because he can't admit to himself that he made a bad hire, 'Jermy's working like heck and just needs the time that I didn't get when I was the coach, to right the ship'
 
#115
#115
JMSqb11 said:
But once again, you're saying Covid didn't impact the AD in the tune of 40-50 million dollars. That's not a smart statement to make.

It's also dumb to ask a bunch of millionaires and billionaires to finance 25 million dollars on a staffing change that is 50/50 to workout when they could commit that much and cut the budget shortfall by 50-70% which is a guaranteed outcome.

You'd get laughed out of town if you think we'd ask Boosters to cover 25 million on something that isn't certain instead of just asking for a full 70-75 million to cover shortfall completely and give new staff a clean and balanced state.

People who deny that Covid isn't impact the Athletic Department are delusional. But i give them a pass because JG all these years have really mind F'd us all.
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Please educate me on why COVID is responsible for this team quitting when they have adversity or are behind? How is COVID responsible for being poorly prepared and unable to make adjustments? I think most of us understand COVID has cause financial suffering throughout college and pro football. Poor on field product and the financial impact of COVID are two separate issues. If they aren’t, please educate me. I am to the point of I don’t care if JP comes back for his 6 year contract. I have been around some great leaders and mentors and IMO, I don’t think JP has those qualities. I guess we will find out.
 
#116
#116
JBVolunteer said:
Jeremy Pruitt’s firing is inevitable. Phil Fulmer (himself unqualified to fill the role as athletic director) hired an ill-prepared, unqualified elementary school teacher turned defensive coordinator to run our football program thinking he was getting one over on Alabama... Fulmer then granted Pruitt a contract extension after a mediocre 2019 season.

I appreciate Coach Fulmer for his accomplishments as our football coach and for his love and dedication to the University of Tennessee but Phil Fulmer is the first problem that has to be dealt with and should be dealt with immediately.
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Fulmer also meddled in the search while Currie was running it. He even offered to retake the coaching job but not under Currie. He ultimately got Currie fired after Currie had gotten Leach to take the job. UT had to pay Currie 2.2 million in buyout money over that and it was every miracle Mike Leach didn't sue. Between Phil's buyout, the massive buyout for Pruitt and the Currie buyout Phil will have cost the school north of 22 million dollars in buyout money.
 
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#117
#117
BeardedVol said:
Honestly, I think it was a mixture of emotion-driven hubris, and preemptive self-preservation on Fulmer's part.

Fulmer is closer to the program than anybody, he probably had a feeling that this year was going to be a disaster, and decided to make it impossible for him to be asked to fire Pruitt because he can't admit to himself that he made a bad hire, 'Jermy's working like heck and just needs the time that I didn't get when I was the coach, to right the ship'
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Perhaps - the extension does make it impossible to be asked to fire him this year, but it also sets up a scenario where the peanut gallery starts yelling at him for giving the extension in the first place. That was an nearly impossible-to-justify extension at the time it was offered, much less today.
 
#118
#118
BeardedVol said:
Covid did no such thing. Pruitt is getting year 4, and most likely at least a portion of year 5 because Fulmer moronically extended his 6-year contract to 8 years before he'd even coached his 3rd season, tacking on $5 million onto his buyout.
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If it was just about the $, the idea that 5 million matters but the revenue losses due to covid dont, really doesn't make sense. I dont know if UT has made any projections but Ive got a friend that works in an ath. dept in the SEC (not UT) and they are projecting 20 million just from football, and thats after cuts.

Fulmer gave him the raise and extension because he had no intensions of firing him 3 years in. The 5 million is not keeping him from doing something he wasn't going to do anyway.
 
#119
#119
05_never_again said:
Perhaps - the extension does make it impossible to be asked to fire him this year, but it also sets up a scenario where the peanut gallery starts yelling at him for giving the extension in the first place. That was an nearly impossible-to-justify extension at the time it was offered, much less today.
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He had already gotten his extension which wasn't publicized at the time though, so he'd already protected himself from being let go this year.
 
#120
#120
BeecherVol said:
If it was just about the $, the idea that 5 million matters but the revenue losses due to covid dont, really doesn't make sense. I dont know if UT has made any projections but Ive got a friend that works in an ath. dept in the SEC (not UT) and they are projecting 20 million just from football, and thats after cuts.

Fulmer gave him the raise and extension because he had no intensions of firing him 3 years in. The 5 million is not keeping him from doing something he wasn't going to do anyway.
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Fulmer doesn't have any intention of ever firing Pruitt, but when he gave him that extension, he most likely didn't envision a scenario where Pruitt only had one more win than Derek Dooley at the end of his third season either.
 
#121
#121
BeardedVol said:
Fulmer doesn't have any intention of ever firing Pruitt, but when he gave him that extension, he most likely didn't envision a scenario where Pruitt only had one more win than Derek Dooley at the end of his third season either.
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If the bold is true, the rest is irrelevant in regards to Fulmer.
 
#122
#122
tabrams said:
So here is an estimate...
Fire before next season - 12.6 million
Fire in/ after 2021 season - 10 million
Fire in/ after 2022 season - 7.5 million
Fire in/ after 2023 season - 5 million
Fire in/ after 2024 season - 2.5 million
Fire in/ after 2025 - minimal cost

So it appears that Fulmer/ UTAD have tied themselves to Pruitt for the next 2-3 years minimum....

So to me it’s all about the recruits and the assistant coaches...Pruitt needs to get his staff corrected to a championship level in the offseason and continue recruiting at a high level...

If he’s able to do this then results will start to show up in 1-2 more years.
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looks like we'll be waiting until at least AFTER the 2022 season

settle in and get comfortable folks

 
#123
#123
BeardedVol said:
If Fulmer were a competent AD, and hadn't extended Pruitt or given him a raise, his buyout would have looked like this:

Fire before next season - 6.84 million
Fire in/ after 2021 season - 4.56 million
Fire in/ after 2022 season - 2.28 million

Ultimately, Fulmer is responsible for the decline of UT football from this point forward as long as he is the AD.
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Easy to throw OPM...........I would retire on any of these figures.
 
#124
#124
BeecherVol said:
If the bold is true, the rest is irrelevant in regards to Fulmer.
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It's not relevant that our AD is so divorced from reality by his emotional connection to the position of head coach at the University of Tennessee, that he could not envision a situation where a coach that he hired, could perform so poorly that he would have to be fired?
 
#125
#125
BeardedVol said:
He had already gotten his extension which wasn't publicized at the time though, so he'd already protected himself from being let go this year.
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So basically Fulmer wasn't getting fired this year either.

Im not sure how he "protected" himself tho. Unless you believe he was in total control for giving himself the extension. If thats true his extension is irrelevant as well. He's not firing himself.
 
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