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Message
re: Texas has fired AD Steve Patterson
Posted on 9/15/15 at 12:02 pm to cardboardboxer
Posted on 9/15/15 at 12:02 pm to cardboardboxer
quote:
They wish. Their AD lost money last year, and they just fired a man with a guaranteed $5 million contract. You add in Charlie's buyout, and they would have trouble affording the SMU coach let alone a NFL coach.
People buy too much into their money hype because their AD has a lot of revenues on paper. But counting against all that revenue is a huge payroll, and shrinking ticket sales. The days of throwing 10+ million a year at any old coach are gone for a while.
Let's not get carried away here.
Texas went in the red by $2 million (or was it $3 million) because they put all the big unexpected (buyouts) into a single fiscal year, instead of spreading the accounting pain.
The Texas athletics department has $40 million in cash reserves.
If Mack Brown is named AD (which I am uncomfortable with), Joe Jamail (he loves him some Mack Brown) would probably wipe out any red with a stroke of his pen.
1
Posted on 9/15/15 at 12:14 pm to texashorn
quote:
Texas went in the red by $2 million (or was it $3 million) because they put all the big unexpected (buyouts) into a single fiscal year, instead of spreading the accounting pain.
The Texas athletics department has $40 million in cash reserves.
It was $2.8 million to be exact, but that was BEFORE ticket sales took the big hit they have taken this season. Oh and that was before Texas paid Patterson $5 million just to not be there anymore.
If Texas fired Charlie after this season they would owe him $15 million. So firing Charlie and Patterson in the same year would wipe out half those reserves.
Add in the loss in ticket revenue year over year, and suddenly $40 million doesn't look like a ton of money. Certainly not enough to hire the kind of splash coach that would turn around that declining attendance year 1, which is what would be needed if the reserves were depleted so substantially.
quote:
If Mack Brown is named AD (which I am uncomfortable with), Joe Jamail (he loves him some Mack Brown) would probably wipe out any red with a stroke of his pen.
Sure, Mack could get Joe and Red to clean up the mess. But then Mack, Joe and Red get to pick the next coach. As an Aggie I can't think of a better case scenario than that.
Yall are stuck between a financial hard place, and a soft spot filled with cookies and orange slices.
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