Franklin Gets Extension

Shane
Posts: 42
Joined: Sun Aug 13, 2017 7:07 pm
Location: Curwensville, Pa

Franklin Gets Extension

Postby Shane » Fri Aug 18, 2017 4:28 pm

Today PSU announced a new deal with James Franklin that will make him the 4th highest paid coach in college football.

Underlion
Posts: 245
Joined: Sun Aug 13, 2017 3:02 pm

Re: Franklin Gets Extension

Postby Underlion » Sat Aug 19, 2017 11:01 am

Can't point to anyone that has done more in the last few years. The question is can he now do it at the top level?

Blue&White
Posts: 452
Joined: Sat Aug 12, 2017 10:01 am

Re: Franklin Gets Extension

Postby Blue&White » Sat Aug 19, 2017 11:47 am

Anyone else see the stories back in June that PA was facing a 3 billion dollar budget deficit this year?

Anyone?

sameoldlama
Posts: 93
Joined: Wed Aug 16, 2017 7:43 am

Re: Franklin Gets Extension

Postby sameoldlama » Mon Aug 21, 2017 9:33 am

I suspect Franklin is paid out of the AD budget - which as PSU actually operates in the black and thus isn't supported via tax dollars.

Second argument might be that Franklin enhanced the value of the revenue stream which is PSU football to a value far greater than the $1.3MM salary bump he saw.

psu_dad
Posts: 219
Joined: Sun Aug 13, 2017 6:59 pm

Re: Franklin Gets Extension

Postby psu_dad » Mon Aug 21, 2017 9:58 am

As I recall, at the time Franklin signed his original contract, it made him a very highly-paid coach as CFB goes. Isn't he just doing what they expected? Or did they sign him to that contract with the expectation that he would suck? And if he had sucked, would he have given some of the money back?

For the AD's sake, I hope last year wasn't a fluke or she's going to look like a Schmuck on Wheels.

Blue&White
Posts: 452
Joined: Sat Aug 12, 2017 10:01 am

Re: Franklin Gets Extension

Postby Blue&White » Mon Aug 21, 2017 10:11 am

sameoldlama wrote:I suspect Franklin is paid out of the AD budget - which as PSU actually operates in the black and thus isn't supported via tax dollars.


I know how much everyone loved when I went off on this last time, so I'm going to bring it up again - I call bullshit on this whole argument. I hear it all the time and it drives me insane.

Penn State is tax exempt entity who also receives direct payments from the Commonwealth of PA, which means it is subsidized by the tax payers both directly and indirectly. The Athletic Department is part of Penn State and operates under the umbrella of their tax exempt status while running as a for profit business. At some point in time, and decades before college football started generating hundreds of millions of dollars in TV revenue, the AD budget was carved out separately from the main university budget, probably to protect tax payers from directly subsidizing activities that were not core to the University's mission. Today, that split does the exact opposite: it protects the Athletic Department from being at all accountable to the tax payers who otherwise subsidize the university.

When the Penn State Athletic Department stops operating under the umbrella of PSU's tax exempt status, pays taxes, pays for the land the stadium sits on, contributes to the local tax base via property taxes, pays for the license to use the PSU logo and trademarks, etc. etc. etc., then I'm willing to entertain arguments about how it operates in the black and isn't supported via tax dollars. But, until all that happens, that argument just doesn't hold up.

Secondly - what dad said. He was hired to do what he did. I'm thrilled with the 2016 season but that was what he was hired to do. We're rewarding him for finally meeting expectations. Anyone else get that deal at work?

I like Franklin as a coach and I think he's done a good job and seems to be doing it the "Penn State way" near as I can tell. But, can we please stop holding these coaches to different standards than we hold everyone else?

sameoldlama
Posts: 93
Joined: Wed Aug 16, 2017 7:43 am

Re: Franklin Gets Extension

Postby sameoldlama » Mon Aug 21, 2017 10:34 am

I think you could move the whole tax exempt status thing over to the politics section because you could very well make arguments there are a whole host of organizations that the taxpayers fund that only promote the interests of a very narrow segment of society.

Before I'd revoke PSU's tax exempt status I think I'd hit the NFL, faux religious groups like Westboro Baptist Church, pretty much every political hack money laundering "foundation" run by former POTUSs or Congressman and any charity that can prove a certain threshold value of the money they collect actually benefits the intended designated people they claim to be helping.

It's certainly nice in the sports world (and especially for pro baseball players) that you get paid big on the potential for performance vs actual year to year results. If it helps you sleep at night B&W you can consider the money raised by the football program covers a lot of scholarship payments that you might otherwise be kicking in for - and you get some entertainment in the form of games.

I can't conceivably think of any value organizations like the Westboro Baptist Church or the Clinton Foundation bring to anyone other than the members of those organizations. There's a long list of people in our pocket to be pissed at - for me CJF is pretty far down on that list.

I know I am not a moderator but let's refrain for pooping in the punch bowl on the football side of the board - we've got too much to look forward to this season.

LioninVa
Posts: 180
Joined: Tue Aug 15, 2017 11:49 am

Re: Franklin Gets Extension

Postby LioninVa » Mon Aug 21, 2017 10:41 am

I don't know much about how the school budget, tax dollars and athletic ticket revenues work, so I won't comment on that.

As for the extension and raise itself, yes Franklin was brought in to build and lead a team to win. He has pretty much done that, against the odds none the less. His salary at the time of hire was quite good and his new one is even better. While it can be argued very easily that all of these college coaches are grossly overpaid, once one of them gets top dollar, the standard is set. I mean, you aren't going to book The Rolling Stones for your little girl's sweet 16 for the same money that gets a local dive bar band.

Blue&White
Posts: 452
Joined: Sat Aug 12, 2017 10:01 am

Re: Franklin Gets Extension

Postby Blue&White » Mon Aug 21, 2017 10:55 am

Lama - I wasn't criticizing the tax exempt status of PSU. What I'm criticizing is the argument that the AD "pays for itself" as a defense to contracts for the football coach. It doesn't. Not by a long shot. My point is that the whole thing is PSU money. It's nonsense that they can hide behind an organizational structure to pay an athletic coach a ridiculous amount of money in an institution directly funded by tax payers. And, PSU is not alone in this and probably isn't the worst offender. Not the point, though. The whole system is morally bankrupt.

I wasn't making a general political commentary, but one specific to college athletics and I think, therefore, relevant to this part of the board. I have no comment on the other examples, but am happy to pick that up elsewhere.

But one factual comment - I think, but am not 100% sure, about the NFL. They are not getting any kind of tax break. My understanding is that the NFL is a holding company and that the revenues are taxes at level of the individual teams. I'm sure each team has its own deals and deductions and, like most corporations in the US, are using the tax laws to their maximum advantage. But, I don't think the NFL has any kind of special tax exempt status. They just don't pass revenue through that entity. So, not sure they belong on your list. But, I'm happy to add them because I think they are pretty smarmy.

sameoldlama
Posts: 93
Joined: Wed Aug 16, 2017 7:43 am

Re: Franklin Gets Extension

Postby sameoldlama » Mon Aug 21, 2017 1:44 pm

From Snopes

In September 2014, amid controversy over the National Football League’s (NFL) handling of domestic abuse cases involving some of its players, Senator Cory Booker of New Jersey introduced a bill that sought to accomplish what other members of Congress had previously attempted to do: disallow professional sports leagues, including the NFL, from claiming status as tax-exempt nonprofit organizations. This news prompted many of our readers to inquire, “Huh, is the NFL really tax-exempt? How is that?”

It is true that the NFL, a sports league that generates an estimated $9.5 billion in revenue each year, currently enjoys the status of being a tax-exempt nonprofit organization, as does the National Hockey League and the PGA Tour (and as Major League Baseball did until they gave up their nonprofit status in 2007). But the key to understanding that exemption is realizing that it does not apply to the dozens of individual teams who are football’s primary money-makers, but only to a small part of the NFL, the NFL League Office:

So it was confined to league office and they gave up that status in 2015. And I don't do this often but kudos to Cory Booker on that one.