Kansas coach Mark Mangino is earning $2.3 million per year, which is more than three times what Ron Prince currently earns at Kansas State.
Does it matter? No question.
What’s going to be done about it? Well, that’s up to Bob Krause and Prince.
Krause told me in June that discussions regarding an extension and raise for Prince had been ongoing since July 2007 — mere months after Prince guided K-State to a 7-6 record in his first year, which included a victory against Texas and an appearance in the Texas Bowl.
Looking back, it was just three months later, in October, when Prince decided he longer needed the services of his agent, Barry Terranova. It was Terranova who negotiated the coach’s initial five-year deal at K-State at a rate of $750,000 per season.
Terranova sued Prince in February, claiming the K-State coach owed $67,500 in payments in a suit filed in Riley County District Court. That would be the agent’s three percent fee for the remainder of the three years of the contract he negotiated, which Terranova obviously believes he should be compensated for.
Whether Terranova was involved in any discussion of an extension is unknown. What is certain, however, is that Prince did not officially sign a contract to be represented by Terranova’s Executive Sports Management firm — the suit says as much, according to the Manhattan Mercury.
The suit is pending, and it’s not hard to see why.
If Prince is forced to pay $67,500 — without having a signed agreement — the argument could be made that Terranova could be entitled to whatever raise Prince had brokered with the university; rumor has it Prince would be bumped to $1.1 million per season, which certainly seems reasonable, even with yesterday’s news out of Lawrence.
Basically, don’t expect any news of a Prince extension until after Terranova’s suit is resolved.
But the question remains — is Mangino worth three times, or, if/when Prince receives his extension, two times his rival in Manhattan?
Another question, especially given how 2007 ended, is does Prince deserve a raise? Wouldn’t the department be best served with a wait-and-see approach, especially with this season’s rugged Big 12 schedule? Or is the appearance of having a head coach with security more desirable?
Honestly, I don’t know. I’m asking here.
Terranova did not respond to e-mails this morning. Prince has been unavailable all week. Krause won’t be available for comment until tomorrow afternoon.
Thoughts?