Pikiell Extended!
- Thread starter FrankZ
- Start date
LOVE THAT. Congrats Pike. Well deserved, the future is bright.
Great news. Will be interested to see the terms. According to the article:
"Upon his hiring in March 2016, Pikiell signed a five-year contract worth an average of $1.6 million annually and topping out at $1.8 million guaranteed before bonuses. The original contract runs through March 31, 2021."
It will be interesting to see how many years they tacked on, and at what price.
"Upon his hiring in March 2016, Pikiell signed a five-year contract worth an average of $1.6 million annually and topping out at $1.8 million guaranteed before bonuses. The original contract runs through March 31, 2021."
It will be interesting to see how many years they tacked on, and at what price.
The news just continues to trend in an overall positive direction for the program....
I definitely think there will be additional years. He will need the years for long term recruiting
good point @ScarletLongIsland .... you think 7 years? Really enjoying this build even with the occasional bumps and bruises. Probably going to do seasons or a RAC pass this upcoming year when my MBA is done.
I have no inside info, but I would love for that trend to continue on recruiting front with Aundre Hyatt
Idk, but when I saw "extension", I assumed years would be tacked on as well. I guess we'll know this afternoon. I'd be surprised if he doesn't get more years, though.
How is it an extension without extra years? Schools just don't decide to pay more for the same agreed upon time frame.
I thought this move by Hobbs is the right one. We need to lock Pikiell in because of what's going on with Ollie at UCONN.
This is great news. Congratulations to Coach. Maybe this will get U Conn to stop posting on the boneyard about him.
C’mon, Ollie’s as good as gone. This is a good move by Hobbs, but I don’t know if it’ll be enough. Time will tell.
It looks like 15.05million between 2018-2019 and 2023-24 or a 6 season average of approximately 2.5 million a year. Article is up on scarletknights.com
Carino Article as well:
http://www.app.com/story/sports/col...ikiell-receive-contract-extension/1019997001/
"Pikiell could earn a maximum of $430,000 in annual performance bonuses, including $10,000 for a 20-win season, $10,000 for an NIT appearance, $25,000 for an NCAA Tournament appearance and $100,000 for a Final Four appearance."
You would think it would be $1M for a Final Four appearance given the history here LOL
http://www.app.com/story/sports/col...ikiell-receive-contract-extension/1019997001/
"Pikiell could earn a maximum of $430,000 in annual performance bonuses, including $10,000 for a 20-win season, $10,000 for an NIT appearance, $25,000 for an NCAA Tournament appearance and $100,000 for a Final Four appearance."
You would think it would be $1M for a Final Four appearance given the history here LOL
Seems a bit premature to me but I tend to be conservative on financial matters. Given Ollie's contract and the financial woes in the state of Connecticut, I would not be so sure that he is getting canned unless private money is footing the bill. Hopefully a few dollars were also set aside for the staff since I think keeping it intact for atleast the next couple of years is important to keep the recruiting momentum going.
This is really great news...
He is under contract for 6 season after this one
Now...let’s finish the season strong, make the garden our home court for the big ten tourney with MULTIPLE tourney wins, and go get mulchay, Dixon, Hyatt and 4 Star to make the class of 2019 a top 10, break through class for this program ...
He is under contract for 6 season after this one
Now...let’s finish the season strong, make the garden our home court for the big ten tourney with MULTIPLE tourney wins, and go get mulchay, Dixon, Hyatt and 4 Star to make the class of 2019 a top 10, break through class for this program ...
Actually there is money set aside for the staff. Each year they will get a 3% raise and in some cases a 5% raise which if my understanding is correct is based on which staff members. As for the financial woes in Conn., it doesn't preclude the university of spending money on getting rid of one coach to get another. BB at UCONN is paramount. They'll have the money for any new coach they hire and a buyout for Ollie.
From 2018-19 through 2023-24, the contract stipulates a guaranteed compensation of $15.05 million, plus performance bonuses.
http://www.scarletknights.com/news/...teve-pikiell-agree-to-contract-extension.aspx
http://www.scarletknights.com/news/...teve-pikiell-agree-to-contract-extension.aspx
I love the extension but I love the commitment to the overall staff as well! Very unusual for the head coach to succeed without a well paid, experienced staff.
Should be “If he reaches final four, university will be changed from Rutgers to Pikiell University”
You know, extensions are so routinely handed out at almost all schools these days that I really hesitate to say "Great move!" as if it was some kind of genius maneuver. It just isn't.
It could work out. It might not.
But obviously I'm pleased that the signal sent is the right one: Rutgers wants Pikiell to coach for a long, long time. Can't argue with that. I still think we're in good hands, and that does not stop with the coach.
It could work out. It might not.
But obviously I'm pleased that the signal sent is the right one: Rutgers wants Pikiell to coach for a long, long time. Can't argue with that. I still think we're in good hands, and that does not stop with the coach.
In the meantime, Pikiell's buyout rates were he to leave Rutgers for another job (like, say, UConn) have increased significantly. If Pikiell were to leave Rutgers between now and March 31, 2019, he will owe the school $5 million, with the buyout decreasing by $1 million in each subsequent year. Pikiell's previous buyout was just $900,000 before the extension. If Hobbs leaves Rutgers at any time before the end of Pikiell's contract, though, a clause in the deal stipulates that Pikiell's current buyout rate at that time will be reduced by 50 percent.
The increase in Pikiell's buyout is good. Pike is certain to realize that the UConn job is likely to open up. The fact that he agreed to an increase in his buyout from $1MM to $5MM if he leaves before the end of next year is a good indication that he prefers to stay here rather than test the water at UConn. Doesn't mean he won't go to UConn, but it would be a much more expensive move.
I think that it is also interesting that Pikiell's buyout is cut in half if Hobbs leaves. Show's the respect that Pikiell has for his AD, and that he considers working for Hobbs one of the benefits of being at Rutgers.
The only problem I see with the buyout is if a school wants him bad enough they will just pay the buyout so a coach doesnt care how much the buyout is.
But that decrease if Hobbs leaves is kind of cool job security for Hobbs LOL
They obviously get along pretty well
A respectful game vs #4 MSU
A win vs Wisc
a win vs SHU
I would have signed up for this alone
add the extension.....
and I havent been this thrilled since the lacrosse team beat Johns Hopkins!
But that decrease if Hobbs leaves is kind of cool job security for Hobbs LOL
They obviously get along pretty well
A respectful game vs #4 MSU
A win vs Wisc
a win vs SHU
I would have signed up for this alone
add the extension.....
and I havent been this thrilled since the lacrosse team beat Johns Hopkins!
While that is true to a degree, it would still leave Rutgers with extra cash to make its new hire (which could go to coaching salary or even to pay the buyout of a coach it may want to try to poach from another school).
Also, the buyout increase in this instance is quite significant.
