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Afternoon Edition

December 2, 2024

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Poor results have triggered a wave of coaching changes in college football, with schools already owing more than $36 million in buyouts—still down from last year’s record. From WVU’s nearly $10 million payout to Neal Brown to other costly separations, we break down the financial fallout and what’s next as the coaching carousel keeps spinning.

— David Rumsey [[link removed]], Eric Fisher [[link removed]], and Colin Salao [[link removed]]

Fired CFB Coaches Owed More Than $36M in Buyouts So Far [[link removed]]

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College football’s regular season is over, which means many schools are digging deep into their pockets to give their programs a new direction.

As of Monday afternoon, 15 FBS head coaches had been fired during the season or since it ended Saturday, with schools owing more than $36 million in buyout fees. That’s a sharp decrease from the record sum of more than $118 million in 2023 [[link removed]], led by the $76 million Texas A&M paid to Jimbo Fisher.

Here are the biggest known college football coaching buyouts of 2024:

West Virginia: Neal Brown, $9.77 million Purdue: Ryan Walters, $9.34 million FAU: Tom Herman, $4.18 million North Carolina: Mack Brown, $2.81 million East Carolina: Mike Houston, $2.8 million UMass: Don Brown, $1.4 million Charlotte: Biff Poggi, $1.3 million FIU: Mike MacIntyre, $1.14 million Rice: Mike Bloomgren, $900,000 Southern Miss: Will Hall, $892,000 Kennesaw State: Brian Bohannon, $605,000 Ball State: Mike Neu, $550,000 Appalachian State: Shawn Clark, $500,000

Those figures come from Front Office Sports research, including publicly available contract information, USA Today’s CFB head coach salary tracker [[link removed]], and other various reports and estimates. Offset language in some contracts could mean schools won’t owe the full amount should the fired coach take a job elsewhere.

Buyouts for fired coaches from private schools are not always made public, including Tulsa’s Kevin Wilson. A figure for Stan Drayton’s buyout at Temple, which is public, is also unavailable.

Gus Malzahn appears to have forfeited most of the $12 million in buyout money [[link removed]] he would have received from UCF (had he been fired after a 4–8 season), where he just resigned as head coach so that he could take Florida State’s offensive coordinator job.

Who’s Next?

With conference championship games, Bowl Season, and the College Football Playoff still to be played, the CFP coaching carousel could still be spinning.

Ohio State coach Ryan Day is perhaps on the hottest seat after the Buckeyes’ fourth-straight loss to rival Michigan. He has the 17th most expensive buyout in the country at more than $37 million, according to USA Today.

Both Florida coach Billy Napier and Florida State’s Mike Norvell were on the hot seat early this season. But the Gators finished the season 7–5 on a three-game win streak after committing beyond this season to Napier [[link removed]], who would have been owed a buyout of more than $26 million.

Florida beat its in-state rival Saturday to give Florida State a 2–10 record just one season after winning the ACC with an undefeated mark of 13–0. Despite the poor season, Norvell doesn’t look to be going anywhere, as his $63 million buyout is the third highest in the nation.

Rays Fire Back at County As $1.3B Stadium Deal Hangs in the Balance [[link removed]]

Nathan Ray Seebeck-Imagn Images

The Rays’ fractious stadium situation has reached something of a stalemate, with the team responding to recent county demands by pointing a finger right back at the public officials.

Four days after Pinellas County, Fla., county commission chair Kathleen Peters called on the Rays to make a clear statement on their intentions [[link removed]] for a $1.3 billion stadium in St. Petersburg, the club reiterated its claim that the city and county have failed to meet their responsibilities.

“When it comes to honoring the spirit of the new ballpark agreements, it is Pinellas County, not the Rays, that falls short,” team co-president Matt Silverman wrote in a response letter to Peters.

Silverman’s comments are the latest turn in a stadium development that once seemed sure [[link removed]] but is now anything but as the Tampa area continues to grapple with the devastating effects of Hurricane Milton. Both the county and city of St. Petersburg delayed votes last month to approve bonding [[link removed]] that would combine to cover nearly half of the stadium cost.

Both jurisdictions are likely to revisit the issue in the coming weeks, but an altered county commission membership has brought new skepticism to the public funding [[link removed]] for the ballpark. Already, the Rays have said a 2028 target date to complete the new stadium has been missed because of the recent public-sector actions and introduced additional costs that the team is responsible for and says it cannot afford.

“The Rays have always made it clear that the viability of the project depended on having certainty about the project’s approval and funding prior to the 2024 November elections,” Silverman wrote. “We would not have gone forward with the project if a future Pinellas County Commission had the ability to revoke the approval we all celebrated in July, or to unilaterally delay the project’s completion into 2029.”

Will Anybody Blink?

As the standoff continues, neither side appears willing to be the one to formally cut short the ballpark project, the centerpiece of a larger, $6.5 billion redevelopment of St. Petersburg’s Historic Gas Plant District. Additionally at issue is the ownership of the 65 acres of public land in question. If the stadium deal dies and the Rays aren’t issuing the official termination, it’s expected that the club will still control the property.

“While publicly the Rays organization has said ‘the deal is dead,’ their written statement is in contrast,” Peters said after receiving Silverman’s letter. “Despite the Rays’ lack of political prowess of late, I’ve always been optimistic about this project because of the great economic impact it would bring to our county.”

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Red Bull Faces Driver, Financial Questions After Pérez’s Exit [[link removed]]

Jay Janner-Imagn Images

Max Verstappen walked out of Qatar with his ninth win of the season, a week after he clinched the Formula One drivers’ championship. But even with the win, Red Bull left the Lusail International Circuit officially out of the running for the constructors’ championship with one race left.

Sergio Pérez, Red Bull’s second driver, did not finish and failed to score any points for the sixth time this season. The gap between Pérez and Verstappen is 227 points, the largest between a champion and his teammate since the new points system was adopted in 2010.

A day after the race, the team decided to remove Pérez from the grid [[link removed]], according to ESPN.

The 34-year-old Mexican driver, who has earned $96.6 million in 14 years [[link removed]] in F1, according to Spotrac, signed a contract extension with the team earlier this year that locked him in until 2026 [[link removed]]. This reportedly means Red Bull cannot remove him from the team immediately, and he may need to fulfill another role on the team—like as an ambassador—unless he chooses to end the relationship with the team himself and potentially drive elsewhere.

Liam Lawson, the driver for Red Bull’s sister team, RB, is reportedly a lead candidate to replace Pérez. Williams driver Franco Colapinto is also in the mix.

Performance Cost

Pérez’s poor performance has essentially cost Red Bull tens of millions of dollars. The prize money each team receives depends on where they finish in the standings, and while that number is not disclosed, Sky Sports reported the purse is 50% of F1’s commercial-rights revenue for the season [[link removed]].

Teams’ prizes range from 6% to 14%, depending on final results, meaning last year’s pot was $1.6 billion—though there is some given away toward other bonuses. Red Bull, the 2023 constructors’ champion, received an estimated $140 million, while each place below received about $9 million less than the team above it.

McLaren heads to the final race in Abu Dhabi with a 21-point advantage over Ferrari in the constructors’ championship. Red Bull trails the Scuderia by 38 points, meaning there are only a few scenarios where the team can finish in second in the championship—which all involve one of their drivers winning the race and neither of the Ferrari drivers finishing sixth or better.

STATUS REPORT Two Up, Two Down

Jeff Blake-Imagn Images

Premier League ⬆ Total income from media-rights deals with overseas broadcasters—including the U.S.—is up 27% for the three-year cycle starting in the 2025–2026 season [[link removed]] compared with the previous three years, according to The Athletic. This number comes after the league signed a six-year, $560 million deal to air in Thailand, Cambodia, and Vietnam with Jasmine International. The EPL announced its central income for the upcoming three-year cycle is up 17%.

The SpringHill Company ⬇ The media company cofounded by LeBron James lost $28 million last year [[link removed]] and has never made money in any year since it was founded in 2020, according to Bloomberg. James has been a pioneer in building businesses outside of sports and has influenced other athletes like Kevin Durant and Naomi Osaka to build their own media outlets. But in an evolving media landscape, the pathway to profitability for these companies is not simple despite support from top stars.

Italy ⬆ The country will host the Davis Cup finals each year from 2025 to 2028, the International Tennis Federation announced Monday. The men’s team event will head to Bologna next year and could end up in Milan or Turin after that.

Hero World Challenge ⬇ Tiger Woods will not tee it up in the tournament he hosts in the Bahamas this week. The golfer had back surgery in September. His new indoor league TGL begins in January [[link removed]] and should make for easier competition for Woods since there will be minimal walking involved.

HAPPY HOLIDAYS

Festive Gifts for Every Sports Fan

The Front Office Sports Holiday Gift Guide [[link removed]] is back, featuring an exclusive lineup of athlete-owned, represented, and partnered brands that sports fans will love.

This year’s guide showcases standout products [[link removed]] from icons and innovators like Suni Lee, Caitlin Clark, Leslie Osborne, Lewis Hamilton, and Ilona Maher, alongside top brands like LoveShackFancy, Wilson, and Maybelline. Whether you’re shopping for your stylish Secret Santa pick, your fitness-loving wellness guru, your corporate athlete colleague, or the ultimate sports enthusiast, we’ve got the perfect picks to make their season.

Win the gifting game and shop the FOS Holiday Gift Guide now. [[link removed]]

Conversation Starters The Diamondbacks are bringing back the Ballpark Pass [[link removed]] next season, which features tickets to all 81 home games for $299. That equates to around $3.70 per game. The Rose Bowl announced upgrades worth $80 million, including a new sound system and the refurbishment of its iconic sign. It’s set to finish by the 2028 Summer Olympics. Take a look [[link removed]]. Randy Moss said he and his family are “battling something internally” at the top of Sunday NFL Countdown. Watch it here [[link removed]]. Editors’ Picks Ohio State and Michigan Kick Off Fines for Flag-Planting-Filled Saturday [[link removed]]by Alex Schiffer [[link removed]]Ohio State PD used pepper spray on players to stop a brawl. FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World [[link removed]]by Mike Jakeman [[link removed]]Resentment and frustration over expanded schedules is nearing a breaking point. U.S. Investors Are Gunning for England’s Small Soccer Clubs [[link removed]]by Mike Jakeman [[link removed]]Is another Hollywood-like success story possible among the U.K.’s smallest clubs? Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Events [[link removed]] Video [[link removed]] Podcast [[link removed]] Written by David Rumsey [[link removed]], Eric Fisher [[link removed]], Colin Salao [[link removed]] Edited by Matthew Tabeek [[link removed]], Or Moyal [[link removed]], Catherine Chen [[link removed]]

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