In case you've been in a hole or out of the country, as a Hawkeye Insider you learned that something is going on in the Iowa basketball program. The rumor mill started churning on Thursday that Coach Todd Lickliter would not be retained.
It's the hot story in Hawkeye Land and HI.com will continue to follow it. I will try to provide what I hear on the topic each day. Here's what I heard through Sunday Early afternoon:
IOWA CITY, Ia. - One of the things that people might overestimate is the money being readily available to buy out Todd Lickliter's contract and the revenue needed to hire a new coach.
Yes, the $2.4 million needed for Lickliter's buyout would be paid out as $600,000 annually for the next four years. Not having to come up with a lump sum would make it a bit easier.
However, you have to add that $600K to whatever it would cost to get a new guy. It's going to take more than the $1.2 million a year Lickliter made to hire anybody of quality. If you go after Tennessee's Bruce Pearl, the people's overwhelming choice, it would be between $1-1.8 million for his buyout and then in the $2.5 million annually range.
I realize that the Iowa Athletics Department does very well when compared to schools nationally. However, that money goes into the budget to pay for operations, upgrades, etc. It's not lying around looking to be spent. That happens at Ohio State.
If that were the case, Barta would have built the practice facility and renovated Carver-Hawkeye Arena a lot earlier. Iowa also is building a new football practice facility and needs to have money available to keep the marquee program even or ahead of the competition.
I heard this morning that some university fund raisers were making phone calls requesting money. Those inquiries went as low as contributors well down the totem pole.
Some of these folks were being asked for $5,000-$10,000. That could be fundraisers exhausting every option. It wreaks more of desperation when they're scraping that far down the barrel.
-Zach McCabe and his Sioux City Heelan teammates won their second state title in a row last night in Des Moines. The 2010 recruit received text messages from Coach Lickliter and his assistant, Chad Walthall following the victory. They offered congratulations and did not talk about their status with Iowa.