CW Buyout is Nonfactor

[IrishAddiction]

For those who have been wondering what the impact of Weis' 8digit buyout if he is fired or asked to resign will be in Swarbicks decision, it is a non-factor. Have read from multiple sites now that the AD is stated responding to questions regarding Weis' buyout and wether it will impact his decision wether or not to keep weis, he has answered no.

Link below to quoting Swarbrick on the matter.

Eight-figure buyout won't play into Weis decision | CollegeFootballTalk.com

 

[elkona]

You buried the lede, as they say in news. SN reported the buyout is $18 million. If you believe this figure, and I don't, then you would have to concede that the cost of buying out Weis is somewhat relevant. Of course, Swarbrick can't say that. Then he'd be admitting that Notre Dame made the worse decision ever by extending Charlie's contract in the first place.

Now, I'll admit that $18M is not a lot by ND standards. The market value of the ND endowment at fiscal year end 08 was $7.1B. Total revenue was $1.5B. Income from just one of its investments -- an oil and gas company based in Dallas -- was $39M. And we've bought out head coaches before. After all, the second highest paid employee at ND in 2008 was ... Tyrone Willingham, who was paid $650k.

Still, paying Charlie $18M to walk away six years early would sting. Particularly for a highly respected Catholic university that boasts of its accomplishments, research and dedication to addressing social problems, throwing away $18M or $6M or whatever million on an overpaid, incompetent football coach LOOKS TERRIBLE.

I'm not saying that ND won't pay CW some money to go back to Jersey (and again, I'm suspicious of the SN figure - if SN really put a lot of stock in it, that figure would have been in the first paragraph of the story). But the cost of buying out Weis matters. It may be trumped by other factors. But it matters. The reporters covering this story should be more skeptical of ND's answers.

 

[NDboy15]

This is a nasty situation.

 

[free bird]

Has anyone else heard the rumor that the buyout will go directly into Hannah and Friends?

That would be cool and I would like that.
I could see Weis doing that, because he really does not need the money. But rich people don't always think that way...

 

[theShark]

To say the amount doesn't matter or doesn't limit us is naive and misleading.

It doesn't and Won't limit football. ND footna;; supports all other athletics. This buyout will limit the girls volleyball, the mens soccer, the lacrosee, etc. It will never efferct football.

The perception hurts. The critics that always harp on the TW ouster forget how long we were paying him off. They see only the ouster. Charlie, at an annuity, may technically be an employee through 2025.

But once, again we can throw the money at a new coach, just need to make sure its the right one, b/c Charlie's buyout is effecting the English 300 courses, the Finite Math program, the lunch menu, the landscaping budget, etc. Everything but the football budget.