In his statement yesterday, Barchi said Money will NOT be a factor in finding the right coach
This is a complete change in everything Barchi has said and done since he first got here, he has been consistent in saying that he will not add to the sports subsidy - and could have fired Flood back in September but all indications are that he didnt want to eat the buyout. In 2013, we couldnt find the money to fire Flood because Barchi refused to subsidize it and we didnt have enough donor $$$$
What has changed in the last week or 2. Is there a significant new donor(S) that is going to pay for the changes being made or did Barchi (with a little nudge from Christie), decide it was finally time to act like a Big 10 school and borrow against future revenues to stop the embarrassment .
I have spoken with journalists and people close to Rutgers and the bill for all the moves we are making will be between 5 and $10MM, with my best guess closer to the $10MM figure. To put this another way, our P&L (assuming our revenue is stable with this year) will be close to $10MM less in 2016 than 2015 (putting the buyouts into 2016)
So the 2 questions are
a) where is the money coming from (several of you have posted that they always knew the money was there - but if we arent adding to the subsidy - then where is it coming from)
b) what is the max we will pay out to a new coach - (obviously, it will be a back-end loaded contract but what will we pay in year 1 and 2 and will we be competitive with a Maryland or Miami)
This is not intended to be a flame post, and I would appreciate if only people with knowledge of the situation respond. There is way too much animosity and finger pointing on what should be a board for passionate fans who want intelligent discussion
Thanks in advance to anyone who knows the answer
This is a complete change in everything Barchi has said and done since he first got here, he has been consistent in saying that he will not add to the sports subsidy - and could have fired Flood back in September but all indications are that he didnt want to eat the buyout. In 2013, we couldnt find the money to fire Flood because Barchi refused to subsidize it and we didnt have enough donor $$$$
What has changed in the last week or 2. Is there a significant new donor(S) that is going to pay for the changes being made or did Barchi (with a little nudge from Christie), decide it was finally time to act like a Big 10 school and borrow against future revenues to stop the embarrassment .
I have spoken with journalists and people close to Rutgers and the bill for all the moves we are making will be between 5 and $10MM, with my best guess closer to the $10MM figure. To put this another way, our P&L (assuming our revenue is stable with this year) will be close to $10MM less in 2016 than 2015 (putting the buyouts into 2016)
So the 2 questions are
a) where is the money coming from (several of you have posted that they always knew the money was there - but if we arent adding to the subsidy - then where is it coming from)
b) what is the max we will pay out to a new coach - (obviously, it will be a back-end loaded contract but what will we pay in year 1 and 2 and will we be competitive with a Maryland or Miami)
This is not intended to be a flame post, and I would appreciate if only people with knowledge of the situation respond. There is way too much animosity and finger pointing on what should be a board for passionate fans who want intelligent discussion
Thanks in advance to anyone who knows the answer
