SIAP Fran’s Buyout after this season
- Thread starter nosok23
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Based on this it appears his buyout would be under $5 million after this season.
Fran's contract details
Fran still having a $5 million dollar buyout reaffirms my belief that Gary Barta has done more damage to University of Iowa athletics in the 21st century than any other individual.
5 million is chump change to get rid of a coach like Fran.
Sounds like a lot of really rich people on this board……it’s not JUST $5 million dollars, because then you have to put together a multimillion dollar package for the next coach but also figure out how to fund NIL.
“Just” $5 million dollars…..what donors are going to put up money for that AND the new coach, etc?
“Just” $5 million dollars…..what donors are going to put up money for that AND the new coach, etc?
So basically next year’s home football opener vs Albany will pay for Frans buyout. Where do I sign?
I think you might be underestimating the resources Iowa's donor network has. We may not be a top-10 program for donors - but we're very strong overall. And there is no doubt many Iowa donors want to see Iowa men's basketball win - it's been a long time since we've had something to really cheer about.
(link) Total fan financial support from 2005-2022:
Iowa - $477 million. (16th in the country during that time period)
And we also have to consider the addtional revenue a winning team brings in. Iowa brought in $15 million in basketball revenue in 2023 whereas schools like Illinois and Indiana top $25 million. A successful coach could quickly pay for Fran's buyout - there is a lot of potential for revenue growth.
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Fran won't be at Iowa next season. I'd bet on it.
Hope you're right. The program desperately needs a reboot with a young, energetic coach who values defense and rebounding while still playing an up-tempo style on offense. If I were Beth, I'd definitely see what it would take to get DeVries to leave West Virginia. I'm deeply disappointed, as are many others, that Beth didn't pull the trigger on Fran and bring DeVries to Iowa City a year ago. But there are many other good young coaches out there. Maybe the guy who took over for DeVries at Drake, for one.
But the men's basketball program cannot continue like this. It's embarrassing.
Agreed....with revenue sharing, the Athletic department is going go lose a portion of current revenue to NIL. In a $170 million/yr budget, losing the proposed $4.5 million/yr to NIL revenue sharing is something easily dealt with. However throw in a $5 million buyout and also try to sign a big name hire at $6 million/yr with 5 years guaranteed, things get more dicey.
IF Fran is really ready to leave on his own, then a negotiated buyout at reduced level should be doable. Obviously no more contract extensions for Fran. A 1/2 buoyout package and a nice retirement ceremony this Spring for Fran so everyone parts on good terms would be a good compromise.
I think I read TJ Otzelberger accepted a reduced salary at around $1.2 million for 1st year when he started at ISU to enable the Atheltic Department to recover. It doesn't make a lot of sense to throw Big bucks at a new Big Name Head coach and then pinch pennies on NIL. I think hiring a younger mid mayor coach with brains/charisma/salesmanship is the way to go and then reduce ticket prices and put in an NIL surcharge to better fund NIL. I doubt these things happen. From my POV, I'm okay with potential of some leaner years to enable possibility of something better.
Giving Big guaranteed money to a new hire is risky--if the new guy flops, the athletic department has already mortgaged its future for many years.
I get that he’s at Northwestern, but his career record there is 187-178. Is this really the guy we want to have to pay at least $ 4 million, but more likely $5 million or more per year to steal away?
I don't believe he received an extension last year. I think he has 3 years, but not sure.
They'll be paying SOME coach millions (either Fran or the next guy) and having to figure out how to fund NIL, regardless of what happens with Fran. So it's just a matter of paying the buyout, or not... Or am I missing something?
It’s the issue that if you buy Fran out you’re paying him more than his salary and then going right back to those big donors and asking them to commit to a multimillion dollar multi year commitment for the new coach AND an NIL package that makes the new coach believe he can be successful.
Versus maybe Fran deciding he would take a lesser buy out if he could resign with some dignity…..a few “million” could go a long way in making that happen.
My guess is that Beth isn’t going to just outright fire Fran anyway….so a negotiated “retirement” is the way I suspect it would happen this year…..IF this were going to be Fran’s last year.
Fran’s buyout after this season is $6,480,000. The terms of his contract call for him to be paid 60% of his remaining compensation, which is $10.8M for the next 3 years. 60% of that is $6,480,000.
Where are you getting this info? Because it doesn't match what was published here: Fran's contract details
That number isn’t correct. I’m looking at his actual contract. The 2025-2026 base salary is $3.5M, 2026-2027 is $3.6M, and 2027-2028 is $3.7M. That comes to $10.8M remaining. Contract explicitly says the University would owe 60% of remaining base salary if fired without cause. 60% of $10.8M is $6.48M.
Those figures aren't his 'base salary' - that's his total compensation including fund-raising/camps appearances, TV/radio appearances and apparel/shoe contracts. The contract buyout doesn't pay him for camps/shoe contracts, etc - just the base salary. And using the State Employee Salary Book published by the Iowa Legislature, his base salary was $1,950,000 in 2023 and $2,050,000 in 2024. I assume the base will be $2,150,000 this year, $2.25 next and $2.35 in 2027. (with some compensation owed for a partial year 2028) When added together, that is very close to what USA Today is reporting for buyout of his base salary.
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You’re right. The totals are total comp. I misread that as base salary.
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