I see the list of fired coaches is growing in college football, and I can’t say that it surprises me.
What continues to surprise me is that universities pay such ridiculous salaries and contract guarantees. I know, I know. The market decides. Coaches generate revenue.
I also know that if no school paid more than $500,000, there’s not one coach in America that would go elsewhere for employment.
Much as coaches like to talk about their love of the game, I suggest another incentive: cash.
Arkansas, Auburn, Boston College, Cal, North Carolina State, Colorado, Purdue Tennessee, Kentucky, Southern Mississippi, Western Michigan and Idaho have fired their coaches.
Colorado’s John Embree will get a $1.5 million buyout for being fired. Mississippi agreed to pay Houston Nutt $6 million when he was let go last season. Auburn’s Gene Chizik will receive a $7.5 million buyout.
To put Chizik’s compensation for pain, grief, humiliation and overall discomfort into perspective, I did the math. He could live on $200,000 a year – which qualifies him among the wealthiest two percent of Americans – for 37 ½ years before he ran out of money. That would take him until he was almost 89 years old.
After that, he could dip into his Social Security, I guess.
Seems to me college and pro coaches have hit upon a great retirement strategy: Get a job and then beg them to fire you.