Aug. 10
I was recently reading an interesting column written by USA Today's Steve Weiberg. He talked about millionaire's row, all of the multi-million dollar coaches in college football and basketball.
Among hoop mentors, new Louisville coach Rick Pitino headed the list at $2.2 million, followed by Duke's Mike Krzyzewski, Kentucky's Tubby Smith, Florida's Billy Donovan and North Carolina's Matt Doherty.
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| Rick Pitino won a national title at Kentucky in '96. |
In football, Steve Spurrier of the Gators leads the way at $2.1 million. Oklahoma's Bob Stoops, who won the national championship last season, is next at $2 million. Next up is Florida State's Bobby Bowden at $1.5 million, followed by Texas' Mack Brown and Wisconsin's Barry Alvarez.
I read this while eating at my favorite morning place, The Broken Egg in Siesta Key, and a number of fans came up to me and asked about the story. They said they were surprised that coaches were making that kind of cash, baby! The fans complained that it was ludicrous.
I told them to wait a minute. When you see the dollar amounts, realize that these guys on millionaire's row are worth every penny to their respective schools. I can hear people screaming out loud, "What about the professors and faculty members in the classroom that don't make one-tenth of that?"
Yes, the teachers do a great job of educating the students, developing them to serve in the future. Whether in the corporate world, legal or medical profession, etc., they are very important as well.
The bottom line is, many of these coaches are packing the houses, bringing in all kinds of money to their schools. They are responsible and often accountable for millions of dollars in television rights from their respective programs. Think about the tournament money coming in!
The coaches are being paid so well because they have been so successful. They have created a special environment, the same way the Chairman of the Board at a corporation might. These guys are like CEOs, getting money through ticket revenue as well. There is advertising dollars in the equation too.
It has also been well documented that when you have that kind of success in the arena or on the gridiron, it leads to unbelievable dollars via merchandise and donations. Alumni gather and develop a sense of pride cheering for their school, leading to fundraising efforts that help in all areas of the institution.
The coaches earn mega-dollars for the schools they serve. They are under a pressure cooker, receiving more scrutiny today than in the past. Everything is blown up; if a kid misses a practice session or is suspended from the team, it is big-time news in the media. It is evaluated and taken apart.
There is also pressure when success doesn't come to the coaches. Even when some succeed, it is not enough. Just look at Jerry Green, who enjoyed four straight 20-win seasons and NCAA tournament berths at Tennessee but still received enormous pressure, leading to his departure.
Coaches have to excite the alumni. Otherwise, they get the ziggy and get sent to the sidelines, baby! I can hear critics screaming that these coaches get super dollars via a buyout. But once a pink slip is on the resume, it is very difficult to come back in a comparable position at the same level. It is not like baseball, where managers often bounce from team to team.
Over the years, coaches become like damaged goods and take a big-time hit when they leave a major program.
The top coaches are the who's who, the doers, movers and shakers who get the dollars because they are worth it. Florida athletic director Jeremy Foley has said that Spurrier and Donovan are worth the money because of the dollars they are generating. There is great enthusiasm and excitement surrounding the Gators' athletic programs.
It is fitting the coaches are compensated in the way because other schools often chase down the big names as candidates. In many cases, long-term deals don't allow the big names any opportunity to leave. It makes sense for schools to lock up the coach who brings in the money and notoriety to the institution.
Wow, why didn't I stay in coaching? I can't believe the numbers. Then again, I love TV, going undefeated for 22 straight years, baby! My record is better than Pitino and Coach K!