Next coach?
- Thread starter Nitwit
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Luke Murray, current asst under Hurley at UConn. Also with Hurley at Rhode Island and Wagner and was a recruiter with Louisville and experience at Xavier and Towson. His father is Bill Murray so we could have a celeb at home games. We’d have that going for us! 
“Cannon-ball, cannon ball coming!”Luke Murray, current asst under Hurley at UConn. Also with Hurley at Rhode Island and Wagner and was a recruiter with Louisville and experience at Xavier and Towson. His father is Bill Murray so we could have a celeb at home games. We’d have that going for us!
End Portion of A 2019 article
Divorcing the donor from the investor
Ultimately, while Pickens as donor looked like one of the greatest things that ever happened to Oklahoma State, Pickens the investor wasn’t the best fit for them.
He was happy, of course. His funds stayed big enough to provide plenty of muscle to throw around.
But that’s the mindset that leads to either wealth creation or wealth destruction. It’s a young person’s strategy. When it works, it creates billionaires.
And it created a billionaire here. When that billionaire started handing the money back out, though, it needed to play a different role. In the non-profit world, you want wealth preservation.
Sooner or later, that would have happened when the donor died and his unique genius for the oil business ended.
While Pickens was alive, it was no problem. He could always get back up and start over, from a higher base each time.
His heirs get about $500 million to split. Half of it is in his 65,000-acre homestead, which true to form generates about $1 million a year in oil royalties and could easily be worth $400 an acre if turned into a working ranch.
The other half is in that hedge fund, which has dwindled to about $135 million over the years as outside investors walked away.
At this point, the portfolio was really just his last favorite toy. Now that he’s gone, it’s up to the heirs to decide whether they want to leave the money there or move it into other strategies.
It happens with most inheritance situations. The only difference here is that there’s a little more money on the move.
We don’t know how much wealth Pickens would have died with if he’d saved the charity until later, or if he’d cashed out of oil along the way and parked the funds in nice index funds.
Keep in mind that he survived five divorces as well, each a drain on his ultimate net worth while enriching his life along the way. He kept trying.
One way or another, he gave most of it away.
And at the end, it wasn’t about the final number so much as the adventure. Among the truly wealthy, he was a legend . . . even if the clock ticked down while billionaire status was temporarily out of his reach.
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I don't follow MBB coach salaries, and not sure where we stand, but this certainly seems to be a part of the story. Is our investment in MBB coaching staff and BB facilities comparable to the BIG? Are we more like a mid-major in terms of investment? I have heard general statements that we don't invest in the MBB program, but not seen where we actually stand in terms of $$$. This sport seems to have been one that has really been difficult for PSU.
Could any coach come in and have success next year with the roster as it stands? Maybe Micah knew that he might not be able to improve on the current year. He certainly got a lot from the current roster. Seems like a big $$$ coach would have to be for the future not next year - barring a miracle in recruiting/transfers.
Transfers seemed to dominate the Elite 8 - 19/40 of the Elite 8 were transfers which was commented yesterday during the broadcast. One of the Zags - Bolton - was former PSU. Transfers appear to be key to success.
I believe they said the avg age of Sweet 16 was also older by over 1/2 year than overall CBB teams. Free COVID year still having impact. Talking about Drew Timme could come back next year - why would POY candidate not go to NBA. Anyhow the teams winning do not seem to be in the mode of the Duke and Kentucky teams of a few years ago where it was FR/SO dominated.
Seems like one of our issues is that we are like a mid-major where the coach leaves on success.
A sizeable portion of the money Pickens donated to OSU found its way into his hedge fund in about the time it takes to blink.
Classic Stuff 
Gunga Galunga
It's a little harsh
Luke Murray, current asst under Hurley at UConn. Also with Hurley at Rhode Island and Wagner and was a recruiter with Louisville and experience at Xavier and Towson. His father is Bill Murray so we could have a celeb at home games. We’d have that going for us!
Gunga Galunga
It's a little harsh
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Nice pull on your part …..
Just thought he'd be a nice fit. PA roots with success at a Non-Power 5 school in our general region.
Well the deal is 99.5% done.
First call should be to Carey Booth
It does seem perplexing.
2021-22 Student Season Tickets were, IIRC, $35 per ticket about $2-3 per game
Most season tickets (those not in the lower levels along the sidelines) were priced out to about $10-12 per game - with those in the "higher rent sections" (between the baselines in the lower bowl) a bit higher.
Unless MOST of the tickets were student tickets (or there were a lot of comp tickets), that's hard to make work out. Something does seem "odd" with the reported numbers from PSU ICA - but they are, worst case, in the general ballpark. Certainly, in order to be financially positive, any meaningful additional spend on PSU Men's BB would have to result in doubling or tripling ticket revenue (is that even within anyone's best-case aspiration?) - at the very least.
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Does Rhodes have any connection to Philly? Carr, Stevens, Lundy, Funk all from that area--we should not abandon it
People on here said ND payed too much to get Coach Shrew and Penn State would be crazy to go to $4 million or more.
I argued that they either should 1. Pay market or 2. Go cheap. I was ok with going cheap, expecting that would mean seasons struggling to go .500 and bottom half finishes in the B1G.
For perspective, teams like Nebraska, Illinois, Pitt all paid their Coach more than we paid out entire coaching staff, $3.3 million.
Coach Rhodes earned 1,222,000 at VCU this year. Maybe if he came to Penn State we might get by at about $2.5 or less for him. It will depend on his other options.
He is a solid coach. Middle aged. Not a big name, but respected. Penn State could do worse, but they could do better. It all comes down to $. The basketball program was reported to have made $4 million last year. I’m ok with Rhoades. It will take him a couple years to put out the dumpster fire he would inherit. Without more serious $ committed to the program he won’t be able to get into the upper division of the B1G, but I won’t hold that against him.
I argued that they either should 1. Pay market or 2. Go cheap. I was ok with going cheap, expecting that would mean seasons struggling to go .500 and bottom half finishes in the B1G.
For perspective, teams like Nebraska, Illinois, Pitt all paid their Coach more than we paid out entire coaching staff, $3.3 million.
Coach Rhodes earned 1,222,000 at VCU this year. Maybe if he came to Penn State we might get by at about $2.5 or less for him. It will depend on his other options.
He is a solid coach. Middle aged. Not a big name, but respected. Penn State could do worse, but they could do better. It all comes down to $. The basketball program was reported to have made $4 million last year. I’m ok with Rhoades. It will take him a couple years to put out the dumpster fire he would inherit. Without more serious $ committed to the program he won’t be able to get into the upper division of the B1G, but I won’t hold that against him.
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As should be the second, third and if necessary, fourth and fifth calls....
We should all be so blessed to be 98 years old and sitting in an environment we love, with a smile on our face!
We aren’t getting Rodney Terry.
www.espn.com
Texas men's hoops hires Terry as full-time coach
Rodney Terry has agreed to a deal to become the Texas' full-time coach, the school announced on Monday. The deal is for five years, sources told ESPN.
www.espn.com
We aren’t getting Rodney Terry.
Texas men's hoops hires Terry as full-time coach
Rodney Terry has agreed to a deal to become the Texas' full-time coach, the school announced on Monday. The deal is for five years, sources told ESPN.
So are we about to sign Rhoades or are we waiting to talk to the FAU coach after their game(s) next weekend? Or do we just go right to Fisher before Temple signs him? What is the inside info about what is going on? Anyone know? What is Kraft waiting for?
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Insiders say it Rhoades, why it’s taking so long is anyone’s guess. I would be okay if they wait and talk with Dusty May. Fisher I keep hear is a good recruiter and a big reason Booth picked PS. I can’t confirm nor deny that. I just want a year to year team that can make the tournament. No legitimate reason why PS can’t be good at multiple sports.
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Penn State men’s basketball coach interview:
Kraft: Hello, Candidate. It’s a pleasure to meet with you. Welcome to Penn State.
Candidate: Thank you. I would like to discuss the NIL situation.
Kraft: Let’s come back to that. Wait until you try the ice cream at the Creamery.
Candidate: O.K., then let’s discuss the fan support.
Kraft: We’ll come back to that too. The Death by Chocolate really is to die for.
Candidate: O.K. Hmm. Then let’s see the basketball facilities, including the arena.
Kraft: Sure, we’ll have to do that. Now, the ice cream. Good, eh?
…
Kraft: Hello, Candidate. It’s a pleasure to meet with you. Welcome to Penn State.
Candidate: Thank you. I would like to discuss the NIL situation.
Kraft: Let’s come back to that. Wait until you try the ice cream at the Creamery.
Candidate: O.K., then let’s discuss the fan support.
Kraft: We’ll come back to that too. The Death by Chocolate really is to die for.
Candidate: O.K. Hmm. Then let’s see the basketball facilities, including the arena.
Kraft: Sure, we’ll have to do that. Now, the ice cream. Good, eh?
…
Actually we are good at many sports....football, wrestling, hockey, volleyball, fencing, gymnastics, and more. Basketball, baseball, not so much.
add soccer to the sports we are good at - both men’s and women’s
Is drinking a sport? We were good at that back in the 80's!
I‘m thinking of making a gift to PSU for a Latte and Scone team. Of course, it will be a small endowment.
Yeah I understand that CP, I was talking about the money sports
maybe I should have stated it better. I was on campus 86-90 and can’t tell you where fencing was even held?
Latest word is that Rhoades is secure (for now) but Krafty wants to speak further with Dusty May. Hope he does not overplay his hand.
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BoT compensation meeting scheduled for tomorrow so they got their man.
BoT compensation meeting scheduled for tomorrow so they got their man.
jim boeheim! Come on down!
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