Mike Anderson - Former Coach

bamafan said:
Let's say that is true about his contract that there is no buy out below the contact terms and he is owed 10 million for the final 4 years of his contract. If he gets fired and is paid the entire 10 million if he accepts a job elsewhere the money he is paid there would be deducted from the 10 million St. John's owed because he obviously could not work 2 similar jobs simultaneously and that is how contract law works unless of course he became a plumber or something like that (my recent involvement with plumbers leads me to believe in a lot of cases it is more lucrative than college coaching). Now say he accepts a buyout of say 8 milllion he gets all of that plus any money he can make coaching elsewhere there is no offset. So depending on what CMA is thinking and planning for his future it may be to his benefit to accept a buyout for less than what he is owed on his contract. Tulsa, Arkansas St. or Podunk U may await CMA.
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Not to mention all the money he'll save by moving out of NY. :ROFLMAO:
 
ADORAZ said:
How unprecedented is it for a coach to negotiate a more reasonable buyout because they feel guilty about doing an awful job and setting the program back, all while already pocketing millions? By likely going 0/4 on the NIT/NCAA, I believe he'll be the first St. John's coach in NINTY YEARS to not participate in a Tournament (did they even have the NIT/NCAA back then?).

I'm not giving him any bonus points for not getting involved in a scandal. The guy got paid several million dollars annually and totally failed at his job. Now he's about to get another $10 million for doing absolutely nothing.

I just hope his buyout doesn't negatively impact our coaching search. As a fan who donates to the school it's frustrating to see how our money is wasted, and if we botch yet another coaching search I will stop donating.
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As has been mentioned STJ turned down an NIT invitation in year 2.
 
dee said:
I think you guys are nuts. He will demand every penny. He isn't taking less. You guys are in dream world.
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I have no idea whether he will accept a lesser buyout deal or not, but it does happen.

If he takes another job for $1M, to answer another question, that be $1M less that we would have to pay him is how it usually works under buyout’s. Now if he negotiates a settlement, he would more than likely get his money from St. John’s and whatever he agrees to if he gets another coaching job.
 
monte said:
I agree that there's no need, and I agree that he and Sexton have SJU over a barrel, what I don't agree with is that if there a mutual desire to part ways, that CMA and his agent won't give in(to some degree) to come to an agreement that works for both parties. It's like when there's a bad marriage that both parties want out of.
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And despite Redfazed opinion to the contrary there is precedent for this in college hoops and all around corporate America. Peace of mind and happiness have a value for many especially once you're reached a point where you know you won't ever go hungry or shelterless.
 
ADORAZ said:
I agree from a legal perspective he's in the clear, and most people would thus take the money and run, but he knows he did a terrible job here and is undeserving of continuing as our coach. As I alluded to at the start of my message, none of that matters and I'm sure he'll get the maximum he's able to (which may be 100%). Was just asking if a coach ever sought out a more reasonable buyout knowing they were doing a mediocre job and to ease public pressure, but I assume the answer is no
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Of course SJU could just do what LSU did with Miles, fire him and tell him to sue them, but;
A) They don't want the negative publicity(although they don't have a problem doing that to professors), and:
B) They ain't got the balls

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LSU and former coach Les Miles settle contract buyout, but Miles is out $5 million

In a strange move, former LSU coach Les Miles is leaving several million dollars on the table in a contract settlement with LSU
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monte said:
If I were already a multimillionaire, and a family man, and in my 60s, and a failure at my job and miserable, you damn well best believe that I'd leave a few mil on the table to be able to head back home, spend time my family and have piece of mind.
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You mean your not? ;)

Agree with you entirely. Though everyone has their own number. For myself I remember thinking a $3 mill net worth was a target, but now that I'm there, not so much. Not a financial genius obviously, though the fact that I can't get the kids out of hte house doesn't help. LOL From public records CMA's net worth is about $5mill.
 
austour said:
You mean your not? ;)

Agree with you entirely. Though everyone has their own number. For myself I remember thinking a $3 mill net worth was a target, but now that I'm there, not so much. Not a financial genius obviously, though the fact that I can't get the kids out of hte house doesn't help. LOL From public records CMA's net worth is about $5mill.
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Maybe you can use some of your millions to pay the buyout?
 
monte said:
Exactly NCJ. You have to hope that at the end of the season, Cragg can sit down with CMA and have that conversation. Unfortunately, I highly doubt that Sexton is going to let CMA have that conversation without him being a party. And once Sexton is involved, which he will be, we're toast most likely.
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FWIW it would appear to me that the Shanley/Cragg/Anderson relationship is far stronger and more respectful than anyone on this board is giving it credit for in both directions so I guess we'll see how it plays out.
 
barbs20 said:
Do we know the reason as to why? I know people have said because we thought we were too good for it but wasn't sure if that was true.
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The official press release on that Sunday stated the program would not participate in the NIT due to Covid concerns. However a few days prior after BET loss to SHU, CMA said his team would play. See 8:35 mark. Little did he know half his team already quit on him as well as Posh having a banged up hand.



In fairness, Seton Hall and Xavier informed the NIT they would not participate as well.
 
If they cannot reach reasonable terms St Johns could really stick it to him. They could give him a lump sum and force him to pay much of it to the federal, state and city govt.
 
austour said:
And despite Redfazed opinion to the contrary there is precedent for this in college hoops and all around corporate America. Peace of mind and happiness have a value for many especially once you're reached a point where you know you won't ever go hungry or shelterless.
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Never did I say that there are no precedents for a terminated coach to accept a lower buyout. Of course there are. I am saying that Anderson, at the age of 63, would be motivated to pursue the full amount owed to him. I don't know how many mouths he has to feed, no one on this board does. I do know that leaving $2 million on the table is an expensive proposition. That will buy you a damn nice property in Alabama or Missouri or Arkansas.
 
austour said:
You mean your not? ;)

Agree with you entirely. Though everyone has their own number. For myself I remember thinking a $3 mill net worth was a target, but now that I'm there, not so much. Not a financial genius obviously, though the fact that I can't get the kids out of hte house doesn't help. LOL From public records CMA's net worth is about $5mill.
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I have a number of friends who work in the public sector. For some, the mindset is to get out as soon as they can even though it means leaving money on the table. Others would rather bitch and moan every day, but they won't leave until they have too because they refuse to leave one cent on the table. To each his own.
 
espken said:
The official press release on that Sunday stated the program would not participate in the NIT due to Covid concerns. However a few days prior after BET loss to SHU, CMA said his team would play. See 8:35 mark. Little did he know half his team already quit on him as well as Posh having a banged up hand.

In fairness, Seton Hall and Xavier informed the NIT they would not participate as well.
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NC State was the only P6 team to accept an NIT invite in 2021.

And plenty of guys play in the postseason even though they know they are going to transfer no matter the situation.
 
redfazed said:
Never did I say that there are no precedents for a terminated coach to accept a lower buyout. Of course there are. I am saying that Anderson, at the age of 63, would be motivated to pursue the full amount owed to him. I don't know how many mouths he has to feed, no one on this board does. I do know that leaving $2 million on the table is an expensive proposition. That will buy you a damn nice property in Alabama or Missouri or Arkansas.
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$500 K will buy you a damn nice property in those states. ;)
 
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