If you watched college football on Saturday, you saw yet another set of misleading political ads urging you to call your local congressman and tell them to SAVE COLLEGE SPORTS! The latest ones give the impression that women’s and Olympic sports are in trouble because having to pay athletes a salary is going to bankrupt their schools.
On Sunday, Penn State announced it has fired 12th-year coach James Franklin, for whom they now owe a roughly $45 million buyout.
These schools aren’t broke. They’re just wildly irresponsible spenders.
And if they find a private equity firm to come rushing to their rescue, as the Big Ten is actively seeking, they’ll just find a way to light that money on fire, too.
We’re only halfway through the 2025 regular season, and it’s clear we’re headed to a full-on coaching carousel bloodletting. Stanford (Troy Taylor), UCLA (DeShaun Foster), Virginia Tech (Brent Pry), Oklahoma State (Mike Gundy), Arkansas (Sam Pittman), Oregon State (Trent Bray) and now Penn State have already sent their guys packing, and the likes of Florida (Billy Napier), Wisconsin (Luke Fickell) and several more will likely come.
By year’s end, the combined cost of those buyouts could well exceed $200 million. Let that sink in for a second. Supposed institutions of “higher learning” have managed to negotiate themselves into paying $200 million to people who will no longer be working for them.
Just how much is $200 million? Well, for one thing, it’s enough to pay for the scholarships of roughly 5,000 women’s and Olympic sports athletes.
You may be asking yourself: How do schools keep entering into these ridiculous, one-sided coaching contracts that cost more than the House settlement salary cap ($20.5 million) to extricate themselves from?
Well, consider the dynamics at play in those negotiations.
On one side of the table, we have an athletics director who spends 95 percent of their time on things like fundraising, marketing, facilities, answering fan emails about the long lines of concession stands, and so on. Once every four or five years, if that, they have to hire or renew a highly paid football coach, often in the span of 24 to 48 hours.
And on the other side, we have Jimmy Sexton. Or Trace Armstrong. Or another super-agent whose sole job is to negotiate lucrative coaching contracts. It’s a bigger mismatch than Penn State-UCLA … uh, Penn State-Northwestern … uh … you know what I mean.
Franklin’s extremely one-sided contract is a perfect example. (...)
Coaching salaries have been going up and up for decades, of course, but that 2021-22 cycle reached new heights in absurdity. In addition to Franklin’s windfall, USC gave Oklahoma’s Riley a 10-year, $110 million contract, and LSU gave Brian Kelly a 10-year, $95 million deal; and the most insane of all, Michigan State’s 10-year, $75 million deal for the since-fired Mel Tucker.
As of today, none of the four schools has gotten the return they were seeking. (...)
Now, according to USA Today’s coaching salary database published last week, none of the 30 highest-paid coaches in the country have a buyout of less than $20 million.
In the past, we might have just rolled our eyes, proclaimed, “You idiots!” and moved on. But the current college sports climate all but demands that there needs to be more accountability of the people making these deals.
by Stewart Mandel, The Athletic | Read more:
Image: Alex Slitz/Getty
On Sunday, Penn State announced it has fired 12th-year coach James Franklin, for whom they now owe a roughly $45 million buyout.
These schools aren’t broke. They’re just wildly irresponsible spenders.
And if they find a private equity firm to come rushing to their rescue, as the Big Ten is actively seeking, they’ll just find a way to light that money on fire, too.
We’re only halfway through the 2025 regular season, and it’s clear we’re headed to a full-on coaching carousel bloodletting. Stanford (Troy Taylor), UCLA (DeShaun Foster), Virginia Tech (Brent Pry), Oklahoma State (Mike Gundy), Arkansas (Sam Pittman), Oregon State (Trent Bray) and now Penn State have already sent their guys packing, and the likes of Florida (Billy Napier), Wisconsin (Luke Fickell) and several more will likely come.
By year’s end, the combined cost of those buyouts could well exceed $200 million. Let that sink in for a second. Supposed institutions of “higher learning” have managed to negotiate themselves into paying $200 million to people who will no longer be working for them.
Just how much is $200 million? Well, for one thing, it’s enough to pay for the scholarships of roughly 5,000 women’s and Olympic sports athletes.
You may be asking yourself: How do schools keep entering into these ridiculous, one-sided coaching contracts that cost more than the House settlement salary cap ($20.5 million) to extricate themselves from?
Well, consider the dynamics at play in those negotiations.
On one side of the table, we have an athletics director who spends 95 percent of their time on things like fundraising, marketing, facilities, answering fan emails about the long lines of concession stands, and so on. Once every four or five years, if that, they have to hire or renew a highly paid football coach, often in the span of 24 to 48 hours.
And on the other side, we have Jimmy Sexton. Or Trace Armstrong. Or another super-agent whose sole job is to negotiate lucrative coaching contracts. It’s a bigger mismatch than Penn State-UCLA … uh, Penn State-Northwestern … uh … you know what I mean.
Franklin’s extremely one-sided contract is a perfect example. (...)
Coaching salaries have been going up and up for decades, of course, but that 2021-22 cycle reached new heights in absurdity. In addition to Franklin’s windfall, USC gave Oklahoma’s Riley a 10-year, $110 million contract, and LSU gave Brian Kelly a 10-year, $95 million deal; and the most insane of all, Michigan State’s 10-year, $75 million deal for the since-fired Mel Tucker.
As of today, none of the four schools has gotten the return they were seeking. (...)
Now, according to USA Today’s coaching salary database published last week, none of the 30 highest-paid coaches in the country have a buyout of less than $20 million.
In the past, we might have just rolled our eyes, proclaimed, “You idiots!” and moved on. But the current college sports climate all but demands that there needs to be more accountability of the people making these deals.
Image: Alex Slitz/Getty
[ed. I don't follow college football much, but from what I do pick up it seems like the transfer portal, NIL, legitimized sports gambling, conference reorganizations, big media money, and who knows what else have really had an overall negative effect on the sport, resulting in an ugly mercenary ethic that's now common. See also: College football is absolutely unhinged right now. It’s exactly why we love it; and, Bill Belichick pledged an NFL approach at North Carolina. Program insiders call it dysfunctional (The Athletic).
Then there's this: College football’s ‘shirtless dudes’ trend is all the rage. And could be curing male loneliness? Can't see the connection but imagine women sure as hell won't be sitting anywhere near these guys. Don't think that's going to help with the loneliness problem.]
