Stoops to get $6 million

[metro]

OU's Stoops Set To Get $3M Bonus


NORMAN, Okla. -- Oklahoma football coach Bob Stoops will become a $6 million man just by staying at OU through the end of the year.

Stoops' salary is just under $2.8 million, and bonuses would push it above $3 million. Plus, he's due a $3 million bonus on Dec. 31 for being at OU for 10 seasons.

Athletic director Joe Castiglione said people may question the pay, but he said Stoops' impact is easily measured.

The year before Stoops arrived, OU generated just more than $26 million in athletic revenues.

In 2006-2007, the football program generated $28.5 million dollars, and the athletic department as a whole brought in more than $66 million.

[jbrown84]

It's worth it to keep him around.

[metro]

Don't get me wrong I'm a HUGE OU fan, but I don't think any coach or player is worth $6million, not even NFL. If I'm not mistaken, wouldn't this make Bob Stoops the highest paid coach there is period (including NFL)? I bet he's definitely in the top 10 even if he's not. He's done great for our football program, but he's lost the last four BCS bowl games.

[Chefdavies]

I think there should have been another clause in that contract that says if you "choke" again in a BCS game the school wants a refund haha. This BCS stuff is getting embarrassing...

[DVDFreaker]

Don't get me wrong I'm a HUGE OU fan, but I don't think any coach or player is worth $6million, not even NFL. If I'm not mistaken, wouldn't this make Bob Stoops the highest paid coach there is period (including NFL)? I bet he's definitely in the top 10 even if he's not. He's done great for our football program, but he's lost the last four BCS bowl games.

But he got us a championship

[drumsncode]

Doesn't anyone out there anymore think that there is such a thing as "too much"? My main point of disgust is with corporate CEO's and their little golden parachute packages that pay them ten of millions of dollars to leave when they fail at their jobs.

That said, I get similarly disgusted at these coaches contracts which pay them all sorts of ridiculous bonuses, basically just for "being there". As if his base pay wasn't enough?

And yeah, people will jump in here and say "it's worth it", and "that's what the market dictates", and "that's how capitalism works", but in the end it's just greed.

I've never seen a man worth 6 million dollars doing any job, unless he's capable of negotiating world peace. A 3 million dollar bonus could certainly be put to better use in this world besides padding Bob Stoop's bank account, or is the poor guy in danger of starving to death?

[Karried]

And the NBA haters are complaining about a penny sales tax.

Where's the outrage here?

Why doesn't OU give 3 million to the city for much needed improvements instead of Stoops.

[Oh GAWD the Smell!]

No kidding...Doesn't OU have like a billion dollar endowment these days?

[windowphobe]

Then again, Stoops is doing something for his six mil. Indiana is paying Kelvin Sampson three-quarters of a million just to go away.

[drumsncode]

All this stuff is indicative of what's wrong in the world. There's so much stuff screwed up I could probably write pages.

John Q. Porter is one example. Where I came from, if you left a job in failure or disgrace they don't make you rich and send you packing, they just kicked your butt out the door and said, "Don't come back."

The distance between the "Haves" and the "Have Nots" in this world is increasing, and that can't happen forever without something very tumultuous happening to correct it. Remember those ridiculous Wall Street bonuses paid each year in the New York area, and how it affects prices in that region? Property values soar because sellers know that money is no object for those people.

Cornett wants us to be a "Big League" city. I guess that means we will have more areas of filthy rich people living in million dollar homes, while other areas of the city are so crime-laden that it's dangerous just to drive through them. I've seen areas like that in Los Angeles. We are starting to have some here, but hey, Bob Stoops doesn't worry about that, he lives in a million dollar home in a gated community.

And maybe Mick should live somewhere around Taft Stadium and his focus would be different. You've got bands of thugs roaming that area, attempting break-ins in broad daylight. But hey, if we have an NBA team here, life will be wonderful!

So while Bob's salary soars to astronomical levels, students at OU are scraping by trying to keep up with tuition increases when there is probably no need to charge tuition at all, considering the kinds of monetary resources available at OU.

[soonerfever]

Well let me first say that as an OU student I am very appreciative of Bob Stoops. During the past 10 years OU has grown like you wouldn't believe. Now I am not saying that Stoops is the reason behind all of this but he sure has helped out. The athletic department has almost tripled its revenues. That money doesn't just stay in Joe C's office; it goes out to the rest of the University. The football program alone helps keep all of the other athletic programs and facilities funded which is available to students.

Also according to OU expense report, Stoops is only being paid $200,000 a year by OU's state budget. I read this about a year ago so it could have changed. The rest of his salary is coming from boosters and donors.

I can see everyone's point about using the money for something else but the majority of it is people's private money.

[BradR]

*only* $200k a year....to me that would be more than enough

[soonerfever]

Yeah thats just loose change!

[bwana_bob]

The annuity is a one-time thing so consider it to be $300k per year of service for which OU likely (only) invested only $172k per year assuming a 10% ROI. If Bob Stoops leaves 1 day before the service requirement, OU still has a good investment they roll into something else. If he stays, they will have paid $1.7 million to get some eye-popping press coverage and fill up the page of this forum.

Annuities are good ways to induce/reward retention. They reflect vision and planning, budgetary discipline and common sense.

If you want to reward the master architect of OU's renaissance, send your checks to David Boren - he is beyond every good decision (and relatively few bad decisions) for over 10 years at OU. If you think that athletics are not important to academics, review Notre Dame's endowment growth in years of football success, mediocrity and, most recently, failure. Athletics put universities on TV virtually every week, always locally, frequently regionally and often nationally. Calculate the advertising exposure of a BCS bowl berth at 75% pre-game hype and 25% post-game reporting: the Fiesta Bowl losses hurt at home but for six weeks it was all good news - and the bad news faded within 6 days.

[OKCMallen]

Doesn't anyone out there anymore think that there is such a thing as "too much"? My main point of disgust is with corporate CEO's and their little golden parachute packages that pay them ten of millions of dollars to leave when they fail at their jobs.

That said, I get similarly disgusted at these coaches contracts which pay them all sorts of ridiculous bonuses, basically just for "being there". As if his base pay wasn't enough?

And yeah, people will jump in here and say "it's worth it", and "that's what the market dictates", and "that's how capitalism works", but in the end it's just greed.

I've never seen a man worth 6 million dollars doing any job, unless he's capable of negotiating world peace. A 3 million dollar bonus could certainly be put to better use in this world besides padding Bob Stoop's bank account, or is the poor guy in danger of starving to death?

$3MM ain't that much in the grand scheme of things. Do you believe in socialism?

[live&letlive]

Bob makes a tremendous amount of money, at least by my standards, but he has also made a very positive impact on OU, Norman and the state. He's getting paid millions to do something he's good at and something he loves to do. Is he supposed to ask for less money?

And as far as the crime-laden areas of the city, I think you will find that anywhere. Some people make the choice to live a life stealing, drug dealing, etc. Others make the choice to work and live an honest life. Someone like Bob Stoops who has made the choice to work hard cannot be expected to take care of the whole world.