Michigan AD Bill Martin Busy at the Final Four
Reports indicate that Bill Martin is conducting interviews this weekend with several candidates for the head coaching position for the men’s basketball team. Most reports indicate that Chris Lowery and John Beilein are candidates. Other names have been mentioned such as Kevin Stallings and Lon Kruger.
The sportswriters with the best handle on the situation have suggested that West Viriginia coach John Beilein is the leading candidate. The one concern with Beilein is the buyout any team hoping to hire him would have to pay to West Virginia to acquire the coach while he is still under contract to coach the Mountaineers.
If Beilein can win with recruits like this, imagine what he could do in Ann Arbor
Nathan Fenno of MLIVE discusses the buyout in this column.
The News obtained West Virginia coach John Beilein’s contract through the Freedom of Information Act. According to the 22-page document, Beilein owes the university “a sum equal to'’ $500,000 for each year remaining on the contract if he leaves for another coaching job.
The contract runs through 2012, equaling a buyout of $2.5 million. The hefty amount has raised questions, including whether Beilein would have to pay taxes that would push the figure well over $3 million.
That sounds pretty daunting, but as the Ann Arbor News (a partner newspaper for the MLIVE portal) discovered on reviewing the documents, there is a good chance the buyout would be much more reasonable:
It is not specified when the buyout must be paid. So the News hypothesizes that Michigan could hire Beilein, he could pay the buyout and then the athletic department could reimburse him in much the same way any employee is reimbursed for a business expense. By handling the buyout in that manner they would avoid having to pay taxes on the sum. Apparently if Beilein had to play the amount on his own the transaction would be taxed.
If hired, Beilein would have one hell of an expense account
The Detroit News’ news service reports that Eastern Michigan women’s basketball coach Suzy Merchant is conducting her second interview for the opening for the women’s basketball coach. So it sounds like a given she will be named shortly as the new coach. It won’t be much of a move distance wise for Merchant, so saving on those relocation costs might help pony up some more money for hiring Beilein if he gets the nod as the men’s coach. John Beilein Michigan Basketball
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