Bruce Feldman says that the terms yesterday were not accurate...
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
December 18th, 2014 at 7:02 PM ^
December 18th, 2014 at 7:02 PM ^
December 18th, 2014 at 7:09 PM ^
Yup, this is Jim's camp getting the heat off him again so he can finish the rest of the season in peace. And it's best for UM too.
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.
December 18th, 2014 at 8:24 PM ^
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.
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.
December 18th, 2014 at 10:39 PM ^
I don't believe a bounty is necessary on any individual team. To me that seems bush league. The right coach will understand the importance and be angry as a mf'er to lose against either tOSU or Sparty.
December 18th, 2014 at 7:03 PM ^
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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.
December 18th, 2014 at 7:10 PM ^
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December 18th, 2014 at 7:11 PM ^
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December 18th, 2014 at 7:17 PM ^
December 18th, 2014 at 7:22 PM ^
asswipe, hes saying yes/
December 18th, 2014 at 7:33 PM ^
December 18th, 2014 at 7:20 PM ^
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December 18th, 2014 at 7:32 PM ^
The athletic department--which depends heavily on the football program--is paying for this out of it's own funds.
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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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.
December 18th, 2014 at 7:57 PM ^
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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.
December 18th, 2014 at 8:45 PM ^
Also, you can rest assured that if we don't get someone of the calibur of Harbaugh who can generate the excitement needed to keep the dollars flowing into the AD, then red ink will absolutely be the result.
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.
December 18th, 2014 at 7:54 PM ^
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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.
December 18th, 2014 at 7:56 PM ^
December 18th, 2014 at 8:12 PM ^
You misunderstood what I wrote. I was making an analogy to other parts of the university. I in no way said that either impacted the other.
December 18th, 2014 at 8:26 PM ^
December 18th, 2014 at 7:21 PM ^
more nfl bull shit
December 18th, 2014 at 7:21 PM ^
Did he actually say they are "too high," or just "not accurate"?
December 18th, 2014 at 7:26 PM ^
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December 18th, 2014 at 7:33 PM ^
December 18th, 2014 at 7:35 PM ^
December 18th, 2014 at 7:42 PM ^
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December 18th, 2014 at 11:11 PM ^
December 18th, 2014 at 7:46 PM ^
have been quite entertaining.
December 18th, 2014 at 7:47 PM ^
December 18th, 2014 at 7:50 PM ^
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.
December 18th, 2014 at 7:59 PM ^
dblpost edit
December 18th, 2014 at 7:59 PM ^
https://twitter.com/michiganinsider/status/545726816284340224
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December 18th, 2014 at 8:00 PM ^
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December 18th, 2014 at 8:02 PM ^
Don't give a crap about reports of loose change, its still a boatload of doleros.
December 18th, 2014 at 8:05 PM ^
Bruce Feldman: No it's not
Oh ok Bruce
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.
December 18th, 2014 at 8:09 PM ^
The $48M figure was the annual pay. Book it.
December 18th, 2014 at 9:13 PM ^
False. People had it backwards. It's 48 years for $6 million, not 6 years for $48 million.