Countdown to Hewitt's Next Longevity Bonus

[Pablo]

In just 45 more days (March 1), Coach Hewitt will earn his 4th longevity bonus of $85,000 at Mason.

 

[gmujim92]

In just 45 more days (March 1), Coach Hewitt will earn his 4th longevity bonus of $85,000 at Mason.

I sure as shit hope not.

 

[polepino]

In just 45 more days (March 1), Coach Hewitt will earn his 4th longevity bonus of $85,000 at Mason.

I never got too much into contract wording. Aside from the fact it states he gets that money what is the exact purpose of a 'longevity bonus'? To reward a coach for lasting that long or entice him to stay?

 

[Pablo]

I never got too much into contract wording. Aside from the fact it states he gets that money what is the exact purpose of a 'longevity bonus'? To reward a coach for lasting that long or entice him to stay?

polepino,

Evidently, this is just an annual bonus for staying. If the former Georgia Tech coach had been highly successful here as I assume he expected to be, I seriously doubt that Mason expected an $85,000 annual bonus would entice him to reject an offer for significantly more money from a school in a higher profile conference (such as the Big East).

Of course, what is most galling is the date when he earns the bonus (March 1). This is neither the anniversary of his hiring nor the end of the season. It's just an arbitrary date during the regular season.

I wonder how the other Mason head coaches (several of whom earn less annually than Hewitt earns on March 1 of each year) feel about Hewitt's longevity bonus.

 

[GSII]

Below is the link to the two deals Mason gave OCM and Hewitt. Adding up wins, longevity, awards and academic bonuses alone equals 265k per year. Again that doesn't include NIT or NCAA wins money. 265k x 4 years is over 1 Million bucks. AKA buyout money.

http://www.washingtontimes.com/blog...paring-deals-mason-gave-hewitt-and-larranaga/

 

[psyclone]

.......265k x 4 years is over 1 Million bucks. AKA buyout money.
/

While 265k might have to be available to be spent if earned in any given year, I doubt very much that it would be "banked". I assume that either it would be reallocated to some other use if not earned or rolled over into the next year's budget. It's not like the university would continue to add 265k in each succeeding year into a "contingency fund". To say nothing of the longevity bonus which has been "earned" and thus has already been spent.

 

[CHRISTOPHER JAMES JOLLAY]

Once word of my longevity bonus got round President's Park, I was able to make a few more friends back in school.

 

[KAOriginal]

While 265k might have to be available to be spent if earned in any given year, I doubt very much that it would be "banked". I assume that either it would be reallocated to some other use if not earned or rolled over into the next year's budget. It's not like the university would continue to add 265k in each succeeding year into a "contingency fund". To say nothing of the longevity bonus which has been "earned" and thus has already been spent.

Ah yes...just like our government and social security.....

 

[GSII]

Pscolne, perhaps u r correct. But if its there this year, it can be there til buyout is paid. There is a buyot clause so anyone with some sense would budget for it.

 

[psyclone]

Pscolne, perhaps u r correct. But if its there this year, it can be there til buyout is paid. There is a buyot clause so anyone with some sense would budget for it.

I agree that this year's bonuses are likely budgeted for and would be available to be reallocated; just not 4 yrs worth. The remainder of the buyout would have to come from other sources.

 

[GSII]

The remainder of the buyout would have to come from other sources.

If they were smart they would of banked it away. We certainly have the cash for a buyout. How many 900k checks did we collect before we left caa 6? The new TV revenue (310k) from A10 is a wash bc we are paying the caa exit fee (1million) with that. Unless we used all that money to buy those 24k gold handrails, we should have no issue paying this Clown to go away. The way I see it is if we could afford to pay Westhead to go away in 1995 with one year left on contract, then we sure as hell can do it 20 years later after banking $5-6 million off, amongst other things, a final four run. IF we cant, then this program is dead forever.

 

[psyclone]

If they were smart they would of banked it away. We certainly have the cash for a buyout. How many 900k checks did we collect before we left caa 6? The new TV revenue (310k) from A10 is a wash bc we are paying the caa exit fee (1million) with that. Unless we used all that money to buy those 24k gold handrails, we should have no issue paying this Clown to go away. The way I see it is if we could afford to pay Westhead to go away in 1995 with one year left on contract, then we sure as hell can do it 20 years later after banking $5-6 million off, amongst other things, a final four run. IF we cant, then this program is dead forever.

Again, you assume "banking" it is an option. At a university with lots of needs means that funds unused in some areas will be shifted to areas where there is an immediate need (e.g. there's an opportunity to hire a researcher who is on the short list to win a Nobel and he wants to bring his entire lab personnel with him; research equipment is needed in order to qualify for a grant for a new degree program, a professor who has won state teaching awards has an offer from another university for substantially more money, etc).

 

[Pablo]

Surely, Mason has sufficient contingency funds to buy out the final year of Hewitt's contract? If not, then shame on the school!

 

[gmujim92]

Despite all the speculation, I simply refuse to believe that a national research university with 33,000 students and an annual budget in the 9 figures can't afford to pay 700K to make Hewitt go away.

At this point, it's not even close to a tough call.

He is the state's top-paid public employee, and at the same time, an utter failure at his job.

In the interest of maximizing the efficient use of taxpayer funds, the General Assembly should freaking require that we fire him before he's able to pocket another 85K.

Only question now is when the other shoe falls. The sooner the better, IMHO.

 

[gmu05]

At this point, it's not even close to a tough call.

He is the state's top-paid public employee, and at the same time, an utter failure at his job.

I would have to think that him being paid so much in state money, not so much booster money, has to be a factor here. Hopefully it makes the process smoother to fire him.

 

[gmujim92]

I would have to think that him being paid so much in state money, not so much booster money, has to be a factor here. Hopefully it makes the process smoother to fire him.

Actually, I could see it working exactly the opposite.

If you have enough wealthy boosters who are willing to pay a buyout, you can literally fire a coach whenever you want. The boosters at GT got so fed up with Hewitt that they finally decided to bite a $7M bullet to make him leave.

Mason obviously doesn't have anywhere near that kind of money (duh).

I just hope that Cabrera looks at the $700K buyout as a business decision and realizes that for the long term health of our sole money-making athletic program, we can't afford not to fire Hewitt.

 

[JimP]

Actually, I could see it working exactly the opposite.

If you have enough wealthy boosters who are willing to pay a buyout, you can literally fire a coach whenever you want. The boosters at GT got so fed up with Hewitt that they finally decided to bite a $7M bullet to make him leave.

Mason obviously doesn't have anywhere near that kind of money (duh).

I just hope that Cabrera looks at the $700K buyout as a business decision and realizes that for the long term health of our sole money-making athletic program, we can't afford not to fire Hewitt.

Assuming GMU had a chance to keep Larranaga, (my opinion is they had ample opportunity and time to do so, given he didn't bolt right away after '06) I wonder what would've been more expensive to the university - expending the resources to keep L happy or hiring Hewitt?

We all know it's cost them on the court.

 

[gmutom]

I just hope that Cabrera looks at the $700K buyout as a business decision...

You and me both, but many people at a learning institution also look on that $700,000 as the equivalent of 8 or 9 full-time professors they could be paying/hiring. It's easy for us as basketball fans to see the rationale behind eating $700,000, but convincing a board of trustees that sees no value in basketball even at the height of our success is a much tougher sell.

 

[Pablo]

You and me both, but many people at a learning institution also look on that $700,000 as the equivalent of 8 or 9 full-time professors they could be paying/hiring. It's easy for us as basketball fans to see the rationale behind eating $700,000, but convincing a board of trustees that sees no value in basketball even at the height of our success is a much tougher sell.

I assume that the board of trustees saw the value in joining the A10 and the attendant costs in doing so.

 

[gmutom]

I assume that the board of trustees saw the value in joining the A10 and the attendant costs in doing so.

I don't disagree, and I hope they follow that same train of thought when it comes to Hewitt's contract. I'm just worried that they see a big difference between spending money and eating money, when they two are actually one in the same in the long run.