Brandon's Buyout
October 31st, 2014 at 2:54 PM ^
Worth every penny
October 31st, 2014 at 11:47 PM ^
October 31st, 2014 at 2:55 PM ^
So that didn't get negotiated down at all. Why bother calling it a resignation if you have to pay all of it?
October 31st, 2014 at 3:00 PM ^
a. Looks better to the boosters
b. Avoids pissing him off, as much as I don't like DB, he is a great fundraiser and would like him to have some capacity in this, I just don't want him to doing anything else for Michigan.
c. Less messy
October 31st, 2014 at 3:04 PM ^
Because if Schlissel thought Brandon was worth keeping around he could have declined his resignation.
October 31st, 2014 at 3:05 PM ^
Keep in mind that he only gets the full amount if he doesn't find employment anywhere else for an equal amount during that time. Put another way, his buyout gets reduced dollar-for-dollar by any cash comp elsewhere. He'll find a new position in a year or so...we won't be on the hook for the full amount.
October 31st, 2014 at 3:14 PM ^
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October 31st, 2014 at 3:14 PM ^
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October 31st, 2014 at 11:50 PM ^
October 31st, 2014 at 3:17 PM ^
I was going to make a snarky comment about how he should be employed soon, as North Korea has contacted him about becoming their new public relations ambassador, but I think it is time to move on from the Dave Brandon bashing. So I won't say it.
October 31st, 2014 at 3:54 PM ^
+1 to commend you for the restraint you demonstrated.
October 31st, 2014 at 3:39 PM ^
Wasn't his salary escalating up to $1.1 million by the end of the contract? Looks like the school saved a little with the buyout.
October 31st, 2014 at 4:05 PM ^
Maybe I misunderstood your question, but the buyout actually costs the University more because it will have to pay someone a salary presumably larger than the difference between Brandon's settlement Brandon's original salary.
October 31st, 2014 at 11:48 PM ^
October 31st, 2014 at 4:57 PM ^
October 31st, 2014 at 2:55 PM ^
Well, we now know for sure that he was forced out.
October 31st, 2014 at 2:55 PM ^
Schlissel said Brandon decided to resign and he accepted it. I wonder how it would go if I went to my boss, said I wanted to resign my duties, and asked for $600k+ per year for the next four years?
October 31st, 2014 at 3:00 PM ^
you give DB the option of being fired and receiving $700k or you allow him to save face and say he resigned for the good of the university and still get $700k. easy choice.
October 31st, 2014 at 3:17 PM ^
Did you remember to negociate the $3M buyout first? That would really help the conversation along! ;-)
October 31st, 2014 at 6:09 PM ^
October 31st, 2014 at 2:55 PM ^
I never had a doubt they would "pay the man" rather than risk an ugly legal dispute over whether the discharge was for cause. The position is just too public.
I appreciate the post, wish the numbers were smaller, but all-in-all it seems a small price for closure on the Brandon regime.
October 31st, 2014 at 4:23 PM ^
I haven't read the document yet, but I bet they got a waiver and release of claims. So, here is what they each got:
Brandon: Gets to say he resigned, but keeps the full buy-out as if he was fired (b/c, in reality,he probably was)
Michigan: Gets not to be sued, gets rid of Brandon and, most importantly, gets certainty - Brandon is gone, isn't coming back and there will be no litigation.
The value of a settlement is control and certainty. Michigan now has it and they didn't have to pay a nickle more than they already agreed to.
October 31st, 2014 at 4:40 PM ^
Mr. Brandon's silence. "Employee agrees not to issue any disparaging statements regarding the University, Athletic Department, Board of Regents, and their employees, representatives, or agents." [...] "The confidentiality provisions contained in section 10 (c) of the March 8, 2010 Athletic Director Employment Agreement are incorporated herein and shall continue."
October 31st, 2014 at 2:57 PM ^
that I shouldn't compare myself to this, but if I had such a buyout offer, I would be very happy to "resign."
October 31st, 2014 at 2:58 PM ^
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October 31st, 2014 at 2:59 PM ^
Sam Webb noted this morning that Hoke + Coordinators would be roughly 5 million if let go at the end of the year.
I don't know if Harbaugh's buyout is known or not but yeah...BUYOUTS!
October 31st, 2014 at 3:00 PM ^
Thanks for letting me troll y'all. Off to my next position of power!
October 31st, 2014 at 3:56 PM ^
Chapelle gif = Classic
Miss that guy...
October 31st, 2014 at 3:02 PM ^
October 31st, 2014 at 3:02 PM ^
Brandon was making $3.2 million at Domino's and took an 80% pay cut to become AD.
If anything CEO salaries have gone up in the meantime, and like the NBA coaching ranks, it's just about impossible to do anything other than fail upwards in the CEO racket. He'll be back in some executive suite somewhere before the dust has settled in Ann Arbor, making more money annually than the entirety of his buyout from Michigan.
October 31st, 2014 at 3:13 PM ^
why is he taking $3 million from a public University in a depressed (financially) state?
I don't know why he left Dominos, but his emails alone will make it difficult for any company to hire him as a CEO. He can probably get some job through his connections, but not a senior executive role at a Fortune 500.
October 31st, 2014 at 3:27 PM ^
I'm pretty sure the AD's salary (buyout included) comes from the athletic department's own funds and not the University's.
In any event, he's donated pretty significantly to the school and athletic department over the years - as much, if not more, than he's been paid.
October 31st, 2014 at 3:04 PM ^
Why don't we just give him 600,000 bottles of water and call it even?
October 31st, 2014 at 3:24 PM ^
Or we could give 8000 bottles of Coke a year since he thinks that they're worth the cost of a football ticket...
October 31st, 2014 at 3:06 PM ^
Dave "I'm serving my University" Brandon demands $3m to resign. Color me not at all surprised.
October 31st, 2014 at 3:18 PM ^
October 31st, 2014 at 3:47 PM ^
Does Schlissel really think Brandon did a good job? All that "thank you for your service" from S and Hackett seemed like they were trying to avoid an atmosphere of a public execution.
October 31st, 2014 at 8:25 PM ^
If all my students actually hated me, there is no chance I'd be doing a pretty good job in my duties.
October 31st, 2014 at 3:15 PM ^
October 31st, 2014 at 3:16 PM ^
DB should be at least a bit ashamed for destroying the program and then taking a golden parachute.
October 31st, 2014 at 3:45 PM ^
or getting hammered before halftime?
October 31st, 2014 at 3:17 PM ^
He's already filthy rich and in his early 60's. What's the point, other than for his huge ego? He could just go to the cushy board meetings in nice places for the foreseeable future and be happy. Besides. It looks like he isn't moving anywhere since he's keeping the football and basketball tickets.
October 31st, 2014 at 3:32 PM ^
he will be offered a position in Governor Snyder's next term.
He will also continue to sit on the numerous boards he already does.
October 31st, 2014 at 8:25 PM ^
He makes something like $250,000 or so per year just sitting on the board of directors for various companies in the area, so he's still got sources of income even with the buyout and investments and the like. Pretty sure he's set up for the remainder at this point, and the buyout ... well...I wish someone would pay me like that to stay away from my desk.
October 31st, 2014 at 3:18 PM ^
Despite his blundering and his degradation of the football program, David Brandon brought in enough money to defray the cost of his buyout. He was successful on the financial end. Now that he has alienated almost every fan and turned the program into a joke, I have no problem with some of the money he brought in being used to hire someone who can repair the program.
While I hate to see him rewarded for damaging the program, it would have been a bargain if they had to spend $6 million to get rid of him.
October 31st, 2014 at 3:25 PM ^
Dave quit (cough cough) no buyout..
October 31st, 2014 at 3:38 PM ^
October 31st, 2014 at 4:02 PM ^
Would you prefer Dave to stay?
...I think we all know the answer to that lol