Blogs › Out of Bounds
Contract stuff
Posted December 20, 2007
First, time to clear up a very common misconception out there.
Buyout clauses in contracts are NOT meant to be deterrents. Witness Michigan luring Rich Rodriguez away from W. Virginia. The Wolverines wanted him, they got him -- never mind the $4 million buyout clause in his contract.
But buyouts ARE meant to provide the school with "seed money" in its search for a new coach. You have a healthy buyout, you have an immediate head start when you lose your coach. You have money to start the process.
And, that's another reason to extend Dan Hawkins' contract as soon as possible. After the third year of Hawk's current deal, the buyout begins to drop dramatically. If CU extends the contract, they could also "re-up" the buyout. If they give Hawkins a decent raise, they could also increase the buyout clause. Just good business sense.
The buyout numbers in Hawkins' current deal: $1 million for departure any time before the end of the second year of the contract (meaning it's just about over), decreasing to $750,000 during the third year and $500,000 during the fourth or fifth years. That means that without a new contract, Hawkins' buyout after next season is finished would be 500 grand -- half of what it is right now.
And, there's this to consider: the price of coaches keeps going up and up and up. New coaches everywhere -- Baylor, A&M, etc. -- are getting $1.7 million and more. That's significantly more than Hawkins. If you can increase his pay today, you WON'T have to increase it even more a year from now, when the price will only be going up considerably again.
Again, just good business sense.
This site does not necessarily agree with comments posted below -- responsibility lies with the relevant reader alone. Read our privacy agreement.
Posted by NJBuff on December 21, 2007 at 6:32 a.m.
It really does make sense Neill.
I think Hawk will coach at CU at least through Cody's eligibility - no matter who calls.
But there's nothing wrong with giving me a few extra dollars and throwing in a $2million buyout. If he were to ever leave, we would need the money.
Posted by russell.zigler on December 21, 2007 at 8:08 a.m.
Couldn't agree more Neill, get Hawk a raise and extension! Lets get his assistants some more security and pay as well.
You have to spend money to make money, people who think CU football doesn't have a huge impact on the local economy and makes all other sports at CU possible are misinformed.
Lets make sure Hawk sticks around to put the Buffs back among the elite in college football, it will pay dividends.
Posted by buffaloha on December 21, 2007 at 9:47 a.m.
Neill knows the score, Kyle is the lightweight.
Posted by rnorthro14 on December 21, 2007 at 7:23 p.m.
I agree with extending Hawk now but for a different reason: He will be more expensive next season. But I think he has some specific goals in mind at CU and being someone who puts an emphasis on "finishing" he will want to meet those goals.
Plus, Boulder seems to be an environment that the Hawkins family enjoys. With Dan you can't underestimate this factor.
Posted by rswright on December 31, 2007 at 10:46 a.m.
Neill, tell us where the money for Hawks raise to come from? Last week it was a raise for our assist coaches.
Why not wait? At 2-10, and 6-7 Hawk doesn't have much to peddle. Why not wait until the hoped for return of CU fans fills the coffers. Spend the money now and if Hawk can't do better, you lose the money and your boy Bohn will have the blame and will be gone.Didn't we learn anything from losing 8 million dollars on 05. If we lose the money and the AD goes as well it will set back CU football another 3 years. The Regents would be in the position of using student money to pay for the AD's mistakes again.