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CUAD did not renew coaches bonus insurance policy
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CUAD did not renew coaches bonus insurance policy


Dec 24, 2017, 4:18 AM

Clemson did not renew football bonus insurance policy that saved $1.3 million last year

Clemson head coach Dabo Swinney celebrates after the Tigers 38-3 win over Miami in the ACC championship at Bank of ...more
BART BOATWRIGHT/Staff
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Manie Robinson | mrobinso@greenvillenews.com
Updated 9:30 a.m. ET Dec. 22, 2017
Before this season began, few people outside the Clemson locker room expected the Tigers to reach the College Football Playoff for a third consecutive year. Adam Goldfarb and Michael Wright were among that confident few.

Goldfarb and Wright operate Risk Point Consulting Group in Marietta, Georgia. Last year, they brokered an insurance policy for the Clemson athletic department that covered the performance bonuses coaches earned through incentive clauses in their contracts.
The policy premium cost Clemson approximately $272,000. It capped the department’s total payout for bonuses at $2 million. Clemson coaches led the Tigers to the national championship and maximized their bonus packages. According to Clemson deputy director of athletics Graham Neff, the policy saved the department $1.3 million.
Prior to this season, administrators requested a quote on a similar policy. Considering the team lost its brightest stars and strongest leaders, Clemson dropped in most preseason projections — except for the one Goldfarb and Wright submitted to the athletic department.

“The rates at which they quoted us were basically the same as last year,” Neff said. “It surprised us a little.”
The athletic department did not share Risk Point’s confidence. After assessing the potential reward against the budgetary risk, administrators elected to decline the policy this season.
They have never been more pleased to be wrong.

Show Caption
Clemson repeated as Atlantic Coast Conference champions and returned to the Playoff. The Tigers will face Alabama in the Sugar Bowl semifinal on New Year's Day.
More: Christmas comes early for Clemson coach Dabo Swinney
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More: Clemson football: Dabo Swinney's coaching staff is maintaining continuity
Clemson assistant coaches could compile a maximum bonus of $1.1 million. Head coach Dabo Swinney earned $1.5 million in bonuses last year. His maximum bonus this season is $1 million.

Swinney earned $200,000 for winning the ACC title and another $200,000 for reaching the Playoff.
According to Neff, the administrators did not beat themselves up about their missed opportunity. The coaches did that for them.
“We were in the locker room in Charlotte after they won the ACC Championship,” Graham recalled. “All of a sudden, one coach pulls me aside. He goes, ‘Did you guys buy the insurance?’
“I said, ‘No, Coach, we didn’t.’ He goes, 'You didn’t believe! You didn't believe in us!' We laughed. Then, we paused, and he says, 'I probably wouldn’t have bought it either.’”
There is prudence in the coach’s tease. The department’s decision was not induced by doubt. It was prompted by practicality.


Clemson head coach Dabo Swinney celebrates with his team after their 38-3 ACC championship win over ...more
BART BOATWRIGHT/Staff
Several reasonable scenarios would have negated the merit of the policy. For instance, if Clemson had closed the regular season 10-2 instead of 11-1, finished second in the ACC Atlantic Division instead of first, and played in the Citrus Bowl instead of the Sugar, the cost of the insurance premium would have been approximately $50,000 higher than the staff total for performance bonuses.
“We have to make a value-based decision too,” Neff said. “We don't just pull the trigger on it. We run the values and see if it makes sense. We’re still going to pay a lot of bonuses this year. Hopefully more.”
Now that another championship and another payout are within reach, like most people outside the Clemson locker room, administrators are significantly more confident in the team’s capabilities. They have the developed the faith of an insurance broker.
“This was supposed to be a ‘rebuilding year,’” Neff said with a laugh. “The insurance folks said it wasn’t going to be. That proved to be true.”

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Originally Published 10:23 a.m. ET Dec. 21, 2017
Updated 9:30 a.m. ET Dec. 22, 2017
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Don't drink and copy/paste.


Dec 24, 2017, 6:08 AM

Kidding, but in the future - spend like 10 seconds reviewing your post (or link to the actual article) so it's not so cumbersome to read. Thanks for the article, I'd heard rumblings of it but it's nice to be able to put some numbers with it. Think how many slides we could've built with that money.

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Re: Don't drink and copy/paste.


Dec 24, 2017, 7:42 AM

yes know. I just copied the entire article which was broken up with ads and teasers on other article. Plus it came from The State so what you expect. LOL

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Can I get Goldfarb and Co to give me their pick in the Semi?


Dec 24, 2017, 10:12 AM

And the natty?

tia

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Whatever choice(s) you make makes you. Choose wisely.


They should’ve consulted with ALLweatherfan, who bought tickets in June


Dec 24, 2017, 10:57 AM

To the ACC Championship game for $26 each.

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"The one who thinks we can and the one who thinks we can't are both right! Which one are you, son? Which one are you, son?"


Why does anyone anywhere need to know this


Dec 24, 2017, 11:05 AM

Junk? I surely dont want dan radakovich knowing my financial business. And i dont care about his.

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Rough Christmas?


Dec 24, 2017, 12:54 PM

I read and posted the article a couple days ago. I thought it was hilarious that when the coaches and administration got together and discussed the subject they all agree that not one of them would have paid the money betting that we'd get back to the playoffs.

The funny part was that all of them were delighted to be wrong. All in all it revealed a great bonding between our coaching staff and the administration. That's was missing when Danny won our first NC.

It made me feel warm and fuzzy inside. Doesn't it make you happy?

2024 orange level memberbadge-donor-10yr.jpgringofhonor-clemsontiger1988-110.jpg flag link military_tech thumb_downthumb_up

Germans***


Dec 24, 2017, 12:50 PM



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