I read this in the Dallas Morning News this morning. This makes it sound like our athletic department is not doing well financially. Is this overstated, or true?
"Longhorns made their coaching change...do you think Texas A&M or Texas Tech will be next in ditching Sumlin/Kingsbury?"
"Kevin Sherrington: Problem is that both are guaranteed a lot of money. Sumlin's contract is fully guaranteed. That means if A&M wanted to get rid of him after next season, it would cost $10 million, or $5 million for each year remaining on the deal. I think the Aggies would be willing to pay that if they have another season like the last three. As for Kingsbury, the pay-off isn't as high, but it's still prohibitive. He's signed up through 2020. And Tech's athletic budget is not in good shape. I've seen reports that, going into the 2015 season, they were running a huge deficit. They can't afford to be paying two HCs at once. Kirby Hocutt is going to regret giving Kingsbury that contract, if he hasn't already."
"Longhorns made their coaching change...do you think Texas A&M or Texas Tech will be next in ditching Sumlin/Kingsbury?"
"Kevin Sherrington: Problem is that both are guaranteed a lot of money. Sumlin's contract is fully guaranteed. That means if A&M wanted to get rid of him after next season, it would cost $10 million, or $5 million for each year remaining on the deal. I think the Aggies would be willing to pay that if they have another season like the last three. As for Kingsbury, the pay-off isn't as high, but it's still prohibitive. He's signed up through 2020. And Tech's athletic budget is not in good shape. I've seen reports that, going into the 2015 season, they were running a huge deficit. They can't afford to be paying two HCs at once. Kirby Hocutt is going to regret giving Kingsbury that contract, if he hasn't already."
