Let’s take a look at what Miami may have to deal with regarding retaining Travis Steele after this superb season he (and his staff) have put together. Case # 1, an April 2024 article detailing the Josh Schertz package he was offered from St. Louis U. The article is below…
Reports say the deal to which Schertz has agreed is 6-years and worth $12 million ($2 million per year) plus incentives, far more than the around $365,000 annually Schertz was making at Indiana State.
Schertz was due to receive another pay increase from ISU if he decided to stay. The school says Schertz declined that significant pay raise.
“The generous financial support of Sycamore donors made it possible for Indiana State University to offer Coach Schertz more than any other coach has ever been paid at Indiana State,” Indiana State University President Dr. Deborah J. Curtis said. “Coach Schertz’s leadership has been the driving force behind rebuilding and elevating our NCAA Division I men’s basketball program and the team’s success this year. We wish him the best in his future endeavors.
While disappointed that Coach Schertz declined our offer, I want to recognize and applaud the strong teamwork of our University Advancement and Sycamore Athletics over the last few months as we have aggressively worked to engage the support of our donors.”
Sources close to the situation say Schertz was offered a 6-year, $850,000 contract extension. Schertz’s departure is also said to illustrate a disparity between ISU’s NIL budget and Saint Louis’s. SLU is said to have a far larger NIL budget to work with.
SLU also doesn’t have football or hockey. After basketball the next biggest sport at SLU is probably soccer. I have a close friend who is a SLU BB booster. But absolutely, and if you have followed, I have spoken on this, even though Steele is on a new contract extension, he should be bumped up further. As should Glenn Box, who has not yet signed an extension. He is in year 3. My understanding is talks are ongoing with both coaches.
Yes, last year Steele was extended through 2032, but the buyout is not significant at all. Its barely worth the paper its printed on. Again, I hate talking about someone’s personal stuff like this, but Steele basically took a bottom dollar contract to coach here. He demonstrated he’s not motivated by money. He’s ok on that front. He needs to be paid enough where it’s not insulting but thats not out of our range. Whether he stays will be determined by whether he feels the program is in a spot to go to the next level compared to whatever offers he gets.
Head Coach salary should be like priority 8 on the list of things Steele cares about. The important factors: institutional support, assistance coach salary pool, NIL funds, moving forward with the arena, donor/alumni activity.
If he gets a really appealing offer (something in the region in the A10 or Big East for example), none of those will matter as we can’t compete with that next level of jobs, but if he thinks the pieces are here to actually become an perennial MAC power, he could stick around until that type of job comes for him.
Contracts can be “torn up.” Especially when there are exceptional circumstances which dictate the action.
In Miami’s case, they should be very mindful of Miami’s BB history, the need to keep the program on firm ground with a new arena probably in final discussions, the student/ fan increase, etc., etc.
I’ve also mentioned before that the assistants are also deserving of new contracts. With the President leading the cheers and jumping around like a kid at the games, he really needs to “own” this process, find the money and get new contracts ready for the minute the season ends.
Meanwhile the Trustees had best confirm the new arena is a “GO” right after their next meeting.
I’ll tell you one move I’m half expecting at this point, and it’s just a hunch mind you, Butler. After experiencing years of sustained success under their previous 3 or 4 HCs, Thad Matta’s return has to be disappointing for them. This being both his and Steele’s 4th seasons in the same timeframe feels like a stars aligning type of thing. I hope I’m wrong, but if they come calling, he’s not saying no to his alma mater.
Yes, I’d rank Butler, Dayton, and SLU (assuming Schertz moves up) as the big 3 threats in that order. I do not think UC or Steele are interested in each other (due to X and Miami history).
I do wonder after his experience at X if Travis would be interested in returning to the BE and taking over a rebuilding project just like the one he underwent at Miami (I actually think getting Butler to the top of the BE is much harder than Miami top of the MAC). My late father played at Butler. I have a real affinity for Butler and live within 5 minutes of campus. But I think that is a real tough job in the Big East. Really reminds me of the growing pains of Miami hockey in the NCHC.
I hope Coach Steele stays and Miami should do anything they possibly can to keep him In Oxford. One factor that comes to mind that I think could help Miami happens to be Coach Steele’s brother. One would think John Groce would also be a primary candidate for jobs such as UC, Butler and Dayton. Has coached in the Midwest his entire career and has had sustained success everywhere outside of a few years at Illinois. An interesting situation given the family ties but one that could potentially help Miami if those openings become available.
I guess my ability to communicate is failing me in my old age. I am trying to say Steele deserves more money! I hope that is clear. Call it an extension of the extension, burning up of the old contract, throwing that damn thing in the shredder whatever you want to denominate it. Give the man more money. More money for his staff as well. And the roster. Money, money, money.
For Steele, the big thing is the assistant pool, NIL budget, and arena. A new contract is irrelevant and shouldn’t be a concern unless we can somehow get him to agree to a bigger buyout.
The priority contractwise should be getting Glenn Box reupped.