Bruce Feldman says that the terms yesterday were not accurate...

Submitted by SalvatoreQuattro on

The numbers were much toonhigh per Feldman  on multiple reports on Twitter. 

 

 

Bruce Feldman ‏@BruceFeldmanCFB 5m5 minutes ago As I said on @FoxSports1 today, I was told by sources the reports on the $8M per offer by #Michigan to Jim Harbaugh are not accurate

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Victor Valiant

December 18th, 2014 at 7:02 PM ^

I wonder if Feldman is being used to just take the temperature down a bit. Perhaps him saying the number is lower helps take some of the pressure off Jim to make a quick decision because it becomes a less juicy story.

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Njia

December 18th, 2014 at 7:34 PM ^

I can imagine that it goes down something like this: Feldman contacts Harbaugh's agent (like so many others probably have). He asks a question the agent can honestly answer: "Is the report of 6 years and $48 million accurate?" Agent says, "No, that's not accurate."

Other reporters might have asked whether the agent would "confirm" the terms, which (of course) he isn't about to do.

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MGoVictory

December 18th, 2014 at 7:03 PM ^

I am thinking the original numbers ($48 or $49 million for 8 years) might be more accurate.

Also, FWIW, Chris Balas thinks $48 or $49 million for 6 years is too high as well, unless it taking into account incentives, bonuses, etc.

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Ray

December 18th, 2014 at 9:07 PM ^

Would anyone offer someone as competitive as JH a contract without a couple hundred thousand dollar bounty on MSU, OSU, etc?  Another few hundred thousand for winning the B1G?  

Not doing so would be negligent and open up a lot of criticism of Hackett after the deal is done and the details get out. 

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Jolly_Mangina

December 18th, 2014 at 7:09 PM ^

These numbers get initially inflated all the time.

Wasn't Meyer first rumored to have a 5 year $35m contract? Ended up only being $4m a year.

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pearlw

December 18th, 2014 at 7:10 PM ^

Feldman is most reputable college football writer today and is also the most plugged in. With all the complaining about media and talkng heads, I cant recall ever hearing a negative word about Feldman because henever has any personal agenda.



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mgokev

December 18th, 2014 at 7:49 PM ^

Because it still rolls up under the university. If you ran a multimillion dollar holdings company, would you be okay with one of your subsidiaries spending away a disproportionate amount of their profits for an investment just because you don't have to actively fund the venture at the moment? I'd be concerned. That said, I'm firmly in the hand over a blank check camp on Harbaugh.




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Njia

December 18th, 2014 at 7:49 PM ^

Donors can give money to the University for just about anything they'd like. If the Regents were okay with a contract offer to Harbaugh of $8M/year for 6 years, they'd say so to Schlissel and that would be that.

Also, the AD, being self-funded, is also generating an operating profit. That's all that matters since the University, by definition, is a non-profit institution. It neither contributes to nor detracts from the rest of the University budget.

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mgokev

December 18th, 2014 at 7:57 PM ^

Also understand this point. However, you wouldn't want to be the university that overextends financial commitments to a head coach during years of operating profit and then has to pay for it out of the general fund should things go south. Imagine the outrage if you are scraping for funds to promote the arts because your Athletic Department is in the red. Again, I'm in the we should pay Harbaugh whatever it takes, but I'm trying to play devils advocate and be in the mind of an academically focused university president.



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grumbler

December 18th, 2014 at 8:34 PM ^

The AD has lost money in the past, and losses were not paid for out of the "general fund."  The department borrowed money, fixed problems, and repaid the loans.  Not one trombone player lost a scholarship.

"Financially independent" means that the department is, financially, independent.

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SalvatoreQuattro

December 18th, 2014 at 7:52 PM ^

then yes I would do it. UM the university has spent over a billion dollars in upgrading the hospital and academic facilities. They'll probably have to build a new UMHS pretty soon and that will mean hundreds of millions more in dollars. This is a drop in a bucket to what UM has already done and is contemplating doing. Plus, Harbaugh's impact will be felt right away rather than the years it will take for the other investments to pan out.

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SalvatoreQuattro

December 18th, 2014 at 8:16 PM ^

have spent huge sums of money in investments. Obviously, UMHS brings in  much more money. A comparison was not really the point. I was referencing UMHS to show that large sums of money are needed to keep Michigan elite.

I have no issue with the money involved as it isn't coming out of academics. It's a great move if it happens and will benefit the university a lot if he succeeds like we think he will.

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ndekett

December 18th, 2014 at 7:57 PM ^

What does he mean by much too high? $5M? $4M? Everyone has been doting on Hackett for throwing out a good offer. If this is true and we don't get 'baugh, then pitchforks.

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dotslashderek

December 18th, 2014 at 8:09 PM ^

Convenient way to go through life.  Not a lot of thought required.

Counter:  The entire NFC South also sucks.  Doesn't mean some of them don't suck worse than others.

HTH.  HAND.

Cheers.

 

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