Some of it is market driven, but the egregious examples are not. Jimbo’s contract, being fully guaranteed, was not at all market driven. Mel Tucker’s absurd contract was not market driven.
To the ambitious comment, though, there seems to be a sense in which schools think if they pay a guy a lot then he will win a lot. It’s a fabricated confidence.
And then fans, likewise, get ticked off when they don’t believe a guy is winning at a level that’s commensurate with his salary. But, really, would A&M fans be any less ticked off if Jimbo was only making $2 million a year? Of course not. They would still think he sucks. But the inflated salaries give people an inflated sense of what they should be accomplishing. Given A&M‘s history, there’s no reason the fans should think they would be in title contention every year. But because Jimbo makes a lot they think they should be.
I do agree that some of it is market driven, but not necessarily the dollar values. Everybody is so desperate to find the next big winner that they are willing to outpay anyone else to secure somebody who they think might be that guy, and in the process, overpaying in almost every circumstance,. That’s what Michigan State did with Mel Tucker.
The whole system is just screwed up. All these salaries are speculative instead of results driven. And that’s how you end up with $76 million buyouts.