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"We aint got no money "

TimeBum said:
Strawman? Where has it ever been discussed on this site that the school's official sponsor is not allowed to sign a separate contract with the head coach?

Yes, I am aware the school has a policy of not allowing boosters to pay a coaches salary (which I disagree with, but that's a different conversation).
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Unless we get Richt’s tax return we can never prove he’s not getting anything from some made external source, so yes….straw man
 
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TheOriginalCane said:
Actually, I think that $1,000 is approximately what I paid in the 1980s. Five or six classes per semester, $100 per textbook (roughly). I think that the cost of textbooks DID go up for a long time, and is now going back down due to having access to online materials.
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I saw a news piece about textbooks….. the insane rise of prices, and how they are using internet based workbooks, with a single password assigned to each textbook, to kill the used textbook business.

This could’ve been 1 year ago, or maybe 10 years ago, I don’t know anymore. So yea maybe prices stabilized. Or not.
 
BigCaneAl said:
Unless we get Richt’s tax return we can never prove he’s not getting anything from some made external source, so yes….straw man
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My initial question was regarding Richt's 2018 salary after the contract extension. You said to look up the 990, which I did, and it was for his 2017 salary. We constantly debate on this site whether Miami was keeping pace with other schools in terms of salary so this is a relevant question. In 2016, Richt's salary was near the top 15 (there were a bunch of coaches in that 11-15 range making 4-4.3 million in 2016). Around May 2018, he got an extension through 2023. Was it for the same amount of money? That seems unlikely coming off a 10 win season. Was it 4.7-5 million to keep him in that 11-15 range or was it way less so he wouldn't even be in the top 20 anymore? We know Blake James likes to flush money down the toilet, the contract extension was totally unnecessary- did he also give Richt a sizeable raise? If you know the answer and can provide it, I will forever refer to you as the "Illustrious Master of Arcane Knowledge" on this website. I didn't create a strawman as there was no need, you never provided the info I asked for (his contract after the extension)
 
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Nearly 10 pages in and I haven’t seen a single person say we don’t have any money.

We may not have Clemson money but we ain’t broke.

It’s an all in battle of everyone against no one
 
TimeBum said:
Strawman? Where has it ever been discussed on this site that the school's official sponsor is not allowed to sign a separate contract with the head coach?

Yes, I am aware the school has a policy of not allowing boosters to pay a coaches salary (which I disagree with, but that's a different conversation).
Click to expand...

Unless we get Richt’s tax return we can never prove he’s not getting anything from some made external source, so yes….straw man
TimeBum said:
My initial question was regarding Richt's 2018 salary after the contract extension. You said to look up the 990, which I did, and it was for his 2017 salary. We constantly debate on this site whether Miami was keeping pace with other schools in terms of salary so this is a relevant question. In 2016, Richt's salary was near the top 15 (there were a bunch of coaches in that 11-15 range making 4-4.3 million in 2016). Around May 2018, he got an extension through 2023. Was it for the same amount of money? That seems unlikely coming off a 10 win season. Was it 4.7-5 million to keep him in that 11-15 range or was it way less so he wouldn't even be in the top 20 anymore? I didn't create a strawman as there was no need, you never provided the info I asked for (his contract after the extension)
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His 2019 salary was listed (June 2018 - May 31, 2019). I edited my post after I went and looked it up.

The point is, UM’s financials are accurate. They are audited and published in accordance with GAAP. That is for the whole university. Football does not produce audited financials and whatever other numbers being referenced out there are not accurate. We do not break even on football. The margin is about $30M.
 
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BigCaneAl said:
Unless we get Richt’s tax return we can never prove he’s not getting anything from some made external source, so yes….straw man


His 2019 salary was listed (June 2018 - May 31, 2019). I edited my post after I went and looked it up.

The point is, UM’s financials are accurate. They are audited and published in accordance with GAAP. That is for the whole university. Football does not produce audited financials and whatever other numbers being referenced out there are not accurate. We do not break even on football. The margin is about $30M.
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So you honestly believe that Richt's salary after his contract extension was the same as before his contract extension? He extended his contract through 2023 and it didn't go up even $1? Lol, ok.
 
Canedude08 said:
Earmarks. Earmarks. EARMARKS.

Nevermind the fact that Miami, nor any other school worth a **** will NEVER take money from the endowment to subsidize athletics. Go look at which departments got the bulk of the funds from the Momentum campaigns. The med school got a ton. Guess what? You aren't taking money from them to fund football. Not happening, you would get sued in a heartbeat by the donors that donated those funds for that purpose.
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LSU would...
 
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pacusmc said:
Do Bama uga and the other frontrunners allow for football only contributions? Is that allowed under the ncaa?
Cause if that was the case here I’d donate more than just my season tickets and I’m sure other would to.
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Yes, it is allowed, You can earmark your funds to a specific program. Stanford is a school that has a ton of donors, that donate to particular Olympic sports. Their swimming program is subsidized by former letterwinners that went on to success in Silicon Valley, and paid it forward.
Hold My Beer said:
Long list of schools in the South and elsewhere in the country who'll always have more available re$source$ than we do.

****, Willie Taggart probably would still be our coach if the alternative was paying what it's costing the semenholes to make him go away.

It's the talent level within a 75-mile radius and attractiveness of UM's location to recruits from other places that allow us to compete at the highest level in Division I football IF we hire the right coach.

The "money issues" are what cause us to flounder longer than other traditionally successful programs when we make the wrong hire.
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This is WHY Miami has to make forward thinking hires, Miami has to find undervalued coaches and buy into a guy with talent before he moves out of our price range. Guess what Manny Diaz isn't? A forward thinking hire. A Miami program that was on the ball would have seen the potential of a Matt Campbell when he was at Toledo, a Miami program with competent leadership would have interviewed Bill Clark when Richt retired. Miami doesn't do that, because Blake James is an incompetent idiot, and the people that should be holding him accountable aren't.

Miami can't do what Bama did with Saban, throw money at someone that is far and away the best coach. Miami has to successfully manage the funds that are coming in, while also looking for new ways to get additional revenue. This is WHY Miami had to move to Adidas, Nike was lowballing us and had been for years, even when times were good. Miami has to find a way to expand on the donor base, get more corporate dollars into the program.
bear said:
MItami has money- more so than what people think. A few more billionaires than Clemson. We just have to win. few cities in the world have penthouses selling for 30mm plus. The. Idea that miami does not have money is baffling. We put a winning team on da field and this city will spend alumn or not
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The CITY may have wealthy people in it, but keep in mind, a lot of those wealthy people have little connection to the University, or are connected to other institutions. Stephen Ross is very wealthy, but he's writing checks to Michigan, because that's where he went to school. The difference between Miami and somewhere like USC is that we aren't a private school with a state school feel, we are the epitome of a private school, both advantages and disadvantages.

Even when Miami is winning, we don't get the attendance that other places get, our donor base stays static(Although experience indicates that they are willing to give more when times are good to help keep it going). Keep in mind, Miami won 2 national titles in the revenue sports in one year(2001) and lost money.
 
For those of you who are subject matter experts on this please see the link below.
And someone please explain to me why compensation for Diaz is stated as $9.5m?! This has to be our total compensation to the whole football staff correct?
2019 990 form
 
Salsa said:
For those of you who are subject matter experts on this please see the link below.
And someone please explain to me why compensation for Diaz is stated as $9.5m?! This has to be our total compensation to the whole football staff correct?
2019 990 form
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It includes his temple buyout
 
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What was his exact buyout amount? Does anyone know? I have a hard time believing that we pay Manny Diaz $4.5M/yr.
 
BigCaneAl said:
It doesn’t matter, it never kicked in….what’s YOU’RE POINT?
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The point was to show the school was not required to make public the full terms of his contract. That information is not publicly available. Public schools have to immediately report the full terms when a new contract is signed, private schools don't. For example, we know Cristobal under his new contract has a salary that goes up incrementally every year until 2025, when it hits 5 million a year. Did Richt have an escalating contract? 4.3 in 2019, 4.5 in 2020, 4.7 2021, 4.9 2022, 5 mil 2023? No one knows since UM didn't have to report the terms of his contract.

And why is this relevant? Because it goes back to the original point on the EADA. My personal opinion was that UM is actually making quite a bit more revenue than it reported in the EADA statements but it was underreporting total revenue on purpose because then people would say, "How dare you claim you don't have the money to pay for coaches!"

Then one poster particular poster claimed, "No way, they can't fake those revenue numbers, it's audited by the Big 4 firms." I then explained that these are not the auditable financials, it's not an IRS filing or Title IX official report. It's just an informational document for consumers. The EADA info can basically say whatever the school wants it to say. Schools have an incentive to overstate the expenses (especially in women's sports: scholarships, etc) because they can make it look like they are investing in women's sports programs as much as men's sports. The Dept of Education only cares that it gets reported on time, they have literally never questioned any school on the EADA data (they've also never fined any school for being late with the report. It is basically something the schools crap out with shoddy data to meet a deadline). I also quoted a newspaper columnist who said that three schools (Rutgers, UM, and I assume FSU, he wasn't clear on the 3rd) appeared to have cooked the books on the EADA data. This certain poster was indignant and said the writer clearly defamed the schools (I'm going to let his slander/libel mixup slide). So if the writer defamed the schools, then the fudged numbers he claims are in the EADA report, should in reality, match up with the other publicly available data (meaning UM accurately reported the info).

Well let's put that to the test, shall we? In the 2019 990, UM reported Richt and Larranaga's alone as totaling 6.5 million (Richt 4.3, Coach L at 2.2).

In their EADA report for that exactly same reporting period, they reported the total salary for ALL men's head coaches as 6.29 million (lists average salary of 1.04 million for men's HCs, and says there are 6 men's HCs). Why, it almost looks like the school is underreporting the men's coaching salaries on the EADA. I'm shocked. SHOCKED. Why would they do that, you may ask? Because if they showed a massive and growing disparity year to year for men's coaches over womens' coaches, people might start asking questions and say that's not gender equitable and the school isn't investing enough in women's sports. On the EADA report, the school says women's coaches in total make 1.8 million (210k avg, 9 HCs). So what does the 990 say about the women's salaries? Absolutely nothing. The school isn't required to report the salary of all the women's because it doesn't meet the reporting threshold (it also doesn't list Blake James's salary, btw). Since Miami is a private university, the 990 is basically the only publicly available information on real salaries at UM and it doesn't list the salaries for 13 out of 15 head coaches. There is no way of verifying the EADA data. The only data point we have is for men's coaching salaries, and the official total salary (from the 990) of two coaches is more than the total salary for ALL men's coaches on the EADA report. So the writer who said UM cooked the books on the EADA report might not be far off base.
 
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Go Canes!! said:
Lmao. Pointing out an obvious truth makes me a shill.

Quick question doofus, how much money have you given to the university over the last 25 years or so?

I bet the number is special.
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You must walk slowly behind James Blake and whisper into his ear the past 25 years and tell Blake “Here daddy, go buy your self something pretty for you to wear at night.”
 
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Gsugradcanefan said:
Dabo's salary coincides with his multiple cfp appearances, acc championships, national titles, etc. ACC and CFP championships generate huge revenue for the school. If Miami would've had the same success as Clemson they'd be paying coaches similar amounts.
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Exactly.

This is why I said it's too bad UM doesn't have a Finance Department or a Marketing Department - who could explain the enhanced economics of a Winning National Football Program.

I don't want to hurt anyone's feelings - but before Schnellenberger won the National Championship - most of the nation had never HEARD of the University of Miami.

Suddenly, UM is a national powerhouse - and came with untold tons of national publicity - that they couldn't have bought at any price.

Those in charge - are highly educated - idiots.
 
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