They paid the ACC $50 million to leave. Their Big Ten profit shares have helped, but to this point have essentially only gotten them back into the green after years of being in the red. I believe the shares get bigger in the next few years, which should open some things up.
I had inside knowledge of the athletic department's budget as recently as Spring 2016 when I was leading The Pride, and Mike's analysis is pretty spot-on. People assume there's all this money to go around, but the bottom line is that their profit margins are tiny. For awhile there, they were in the red. Since 2010, they've had to buy out the contracts of 3 different head football coaches and numerous assistants. For Damon Evans to go to the boosters yet again to buyout the contract of another head coach (and all of his assistants), he'd have to do a lot worse than reach NCAA Tournament in 4 of the last 5 seasons.
In a perfect world, there would be an easy way out of Turgeon's contract. But the bottom line is that this athletic department isn't going to eat the cost to buy him out just yet. Not that it isn't a worthwhile conversation to have, but it simply isn't happening anytime soon.
This is exactly right, and I can tell you that MD universities are losing a shit ton of money due to government changes in sponsored funding. The "cash cow" argument is BS.