How is atm's cash flow?

[BigEarlinBastrop]

Does anyone have data on aggy's athletic budget woes? How can they afford Sherman's buyout plus Big XII exit fee? Have they increased budget for impact of added travel in non-football sports? They are on the edge of SEC's larger geographic footprint.

 

[atxbomber]

I don't think they even know. Who has time to think about this stuff when you're busy giving Texas and Baylor the middle finger?

 

[Hookem123]

That sly ole fox Loftin extended the contracts of both (Sherm & Big12) but used disappearing ink when he signed.

Honor code at it's best.

 

[ViperHorn]

but Sherm had not signed his extension.

 

[Horn_in_Toronto]

Well it seems they may owe up to $25 million ($20 million to the Big-12, and $5 to Sherman). I am sure some big name donor will given them the money, or the University will give them another interest free loan.

I still can't believe Sherman did not sign his extension, what was he thinking?

 

[agssuk]

Looks like its flowing out the door pretty good.

 

[Horns11]

A lot of donors will step up for the Sherman fee. The conference exit fee is going to be negotiated down a bit, and the university will cover that as part of it's running tab with the athletics department.

 

[Little Earl]

I heard that Sherman did sign the contract, but that Loftin had not yet signed it, so it was never executed.Supposedly it has been sitting on Loftin's desk since October.

 

[Horn_in_Toronto]

Little Earl, if that is the case, then A&M could potentially be on the hook for the entire amount.

 

[HornSwoggler]

Reported that Sherm's termination cost will be ~$5.8 million but I do not know the time period. The B12 exit fee will be deducted from what the B12 owes TAMU for last 2 years revenue sharing. The conference does not pay immediately each year. There is a delay in rev share payments. Same thing occurred with Neb and Colo.

All this will have an impact on the TAMU books but a butt-load of cash will not be required. Looks like if the B12 exit fee is negotiated down to about the same % as NU and CU's were, the fee will be ~$12 million so TAMU will only receive $8 million of their expected $20 million rev share but that is easily enough to pay off Sherman if a lump sum is required.

 

[Little Earl]

It has been reported by several media outlets that the contract extension was offered to Sherman in July, but that he didn't sign it until October and it has been sitting on Loften desk every since.

Texas A&M ousts coach Sherman

I think the difference would be about 5 mil versus 9 mil. I don't claim to be a lawyer, and I think Sherman sitting on the contract for 3 months doesn't help his case very much, but this could force a little more negotiation on the cost of the buyout.

 

[bmoore15]

I was told by someone that they are also still having to pay Coach Fran for his buyout. Does anyone know if this is true or not?

 

[dillohorn]

.........and then they have to pay for a new coach on top of all this.

 

[ViperHorn]

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[wherzwaldo]

He said in his press conference yesterday that he signed the contract extension in September, probably before all the **** hit the fan with their football season. It arrived on Loftin's desk in October, probably after all of the ****-fan-hitting started to rear its head.

 

[Big Ess Fro]

And they still have a $16 million IOU to the University.

 

[Hookem123]

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[H-D Rider]

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[Hookem123]

The Link

Hunter Goodwin all mad about Sherm getting fired by cell phone call while he was out recruiting a 5 star.

Hunter offered to pay $10,000 if they'll call HIM to remove whoever leaked the information from College Station.

Sounds like he thinks it's Dollar Bill. Called the leaker a chickenwad.

Good stuff.

 

[ViperHorn]

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[Dr_Bob_Rio]

LOL, that TexAgs Radio bit was good. Hunter Goodwin claims that the a$m job is top 15 in the country! Maybe top 15 among OPEN jobs.

If he really wants to pay 10K to go abuse the person responsible for the Colley Station fiasco, he should use it to chase the Milkman for President campaign. That is where the BOR came from, that picked the Putz, that overrode the AD, that didn't know his coach was about to be fired. The jokes just keep writing themselves.

 

[Doughbroz]

All I know is that every atm in town is out of cash. Of course, it's a pretty small town...

 

[The Gnome Man]

Easy there, guys. Don't you know that Aggies never cheat, steal or lie?

 

[joebevo]

Figure they have to wait for the revunue sharing to start kicking in for the SEC. Looks like they'll go at least 3 years without the full revenue stream. They are going to be in bad shape soon if they don't start winning. Poor Aggies.

 

[Touchdown]

Does anyone know the status of the exit fee negotiations? With no real commish in place I'm concerned they may relent when it comes to Missery and aggy's bill.

It's too quiet. Bowl season is here and checks will be going out shortly.

 

[ViperHorn]

Ken Starr is on the case. He will inflict the maximum amount of pain.