bad news that keeps on giving

[Frozevol]

file under "the failings of the UTAD

Jones, Currie buyouts drive Vols to $6.5M deficit

 

[UT_Dutchman]

Way to go Volnation, you all made the Haslams mad and they forgot to send the check.

 

[Frivolous]

although the link seems to say $65 million, the number is actually a less staggering $6.5 million.

owing $13.8 million in buyout money will do that.

 

[Jax_Vol]

We traded Butch Jones plus $50 million to Alabama for Jeremy Pruitt.


I'm still thinking that we still got the better end of that deal

 

[utkevdawg1]

"Tennessee paid for the deficit through its athletic department reserves, which are now down to about $9.5 million."

So the deficit is already behind us.

Chicken little stuff right here.
The buyouts will roll off in the not too distant future and as long as we don't fire Barnes and his Staff or Pruitt and his staff, we will be just fine. Even if/when we get rid of Holly.
There will be an increase in revenue with the Bball team performing like they are and football on the upswing.

"The school reported revenues of $143.55 million"

 

[Behr]

Well they at least made up over $100,000 by not paying an OC for over a month.

 

[vollygirl]

Tennessee paid for the deficit through its athletic department reserves, which are now down to about $9.5 million.

 

[82_VOL_83]

I'll have a double cheese burger with a side of nothing sauce please.

 

[BigDave]

We should not have paid Currie a damn penny!! He was a Haslam chump that caused the VOLNATION great pain and embarrassment . . . if anyone should foot that bill it should be Jimmy and Billy-boy "Haslime" Haslam.

GBO

 

[livefaith]

I think Tee is being paid by USC while we our him on the low end of the salary list. Finally on the right side of a buyout. Maybe things are looking up.

 

[peaygolf]

If wins come, that money is paid off in a heartbeat!

 

[TNnative]

file under "the failings of the UTAD

Jones, Currie buyouts drive Vols to $6.5M deficit

Knew that was coming. And there will be a nondisclosure clause attached to every check. Typical UT BS.

 

[orangefloyd]

Speaking of bad deals. How much will Holly’s buyout add to that?

 

[jbr82]

Haslam should pay out of his own bank account......not UT.

 

[sjt18]

You have reserves... so you can pay buyouts or unexpected expenses. Bad hiring decisions have costs. Allowing a bad hire to extend a worse hire's contract... well.... hopefully that's behind us now.

Some of us knew that Jones was an underperformer who should not have gotten an extension or raise. No one was going to hire him away... and if they'd been that stupid then they would have deserved him.

 

[Behr]

"Some of us" are in the wrong business.

 

[butchna]

Well they at least made up over $100,000 by not paying an OC for over a month.

So Chaney’s buyout only cost $400k.

 

[OrangeByBirth]

Currie should have been fired with cause. Botch probably could have gone that way, too.

 

[bag12day]

Currie should have been fired with cause. Botch probably could have gone that way, too.

Agree on Currie but on what grounds for Jones? Being a bad coach and not understanding how to coach is a fireable offense but not a "fired with cause offense" like Hugh or Pearl. The problem with the last three coaches were no/not enough punitive damages for Lane leaving in lurch after a season, a kneejerk bad hire for Dools 17-20 IIRC when we hired him, and Butch who always had followed Kelly when he was moderately successful with mid majors but over his head in a real conference at a real school. THink about those 2 buyouts for bad hires coupled with the AD buyouts. A lot of Benjamins down the tubes.

 

[HuntlandVolinColo]

At least we saved money with Tyson Helton.

Incredible that we can bring in $143 million and still rack up a deficit. Must be some gubbermint workers involved! lol

 

[Devo182]

Better to start making some money, because out current staff ain't cheap!

 

[TNnative]

Currie should have been fired with cause. Botch probably could have gone that way, too.

If they had fired Butch for cause, the cause would have been made public, kind of like when Donnie Tyndall went away. They would rather pay the money than document the embarrassment. And as to Currie, his buyout is hush money. There is some dirty laundry those in charge don't want hanging on the line. They prefer to cover it in money.

 

[TNnative]

Better to start making some money, because out current staff ain't cheap!

The one constant is it will continue to get more expensive. Probably until Jesus gets here.

 

[Devo182]

At least we saved money with Tyson Helton.

Incredible that we can bring in $143 million and still rack up a deficit. Must be some gubbermint workers involved! lol

All numbers are relative. Hell, plenty of businesses with billions in revenue can easily have a deficit. It's all about the margins. Plus it's not a private business, so no shareholders to "maximize profit" for. Margins sure shouldn't be astronomical, otherwise we should be giving away tickets to all home games or giving back to the university (I know many do, not sure if UT does). But putting some away for reserves is reasonable too.

 

[Devo182]

The one constant is it will continue to get more expensive. Probably until Jesus gets here.

It's truly insane how those salaries have risen. I remember reading one year how Fulmer was making 400k a year and thinking how rich he must have been (as a child). Now you have to think he's really kicking himself for missing out on these huge paydays we now have.