Things that make you go Hmmm? Thoughts on Search Firms:(Where does that money come from?)

Posted by Andy Durham on April 6, 2011 at 12:55 pm under College, High School | 7 Comments to Read

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The search firm that was hired to help find the new basketball coach at N.C. State was paid at least $75,000 and the big question coming in today, from more than one reader is, “Where does that money that they pay the search firm come from”?

Where does that money come from? Is it univeristy money that they can spend as they choose, or does the money come from the state of North Carolina, that finds itself in very tough economic standings these days…..

The conference standings have our teams and fans upset, but the overall population of our state is very upset about our current economic standing, or in some cases, many are no longer able to stand on their own two feet and earn a living and therefore they have taken to standing/sitting out by the highway and holding up a sign that says, HELP!!!!!

Thoughts on this one and here is what one reader was saying earlier this morning:

Where does the money come from that schools such as NC State are using to pay search firms to hire coaches. I know this isn’t the first time a search firm has been hired to find a coach however, when we are laying off teachers right and left and don’t have enough money to run sports in public schools, is spending money to hire a firm to find a coach really the best use of tax payers dollars?


  • Money said,

    Same place as Butch’s tutors.

  • Money is green said,

    ^^^love it money. The answer to your question is the Athletic Department finances itself. They get money like this from ticket sales, merchandise sales, tuition fees, private donations, and sponsorship deals. The Wolfpack Club covers all scholarships for every sport. They raise that money. This is not money coming from the general tax payer. This is money coming from N.C. State fans who buy tickets, merchandise, give donations, or have a son/daughter and you pay their tuition. Watch the Press Conference. Debbie Yow explains this. Andy….your welcome

  • Search firm said,

    The role of a search firm in this situation is not to really find candidates. Most schools/AD’s know a good list of who they might want. A search firm usually makes the first contact with an candidate or with his agent. They also do some of the vetting or background on a candidate. that’s why when you hear from a candidate say that he has not been in contact with the school he probably hasn’t. But it’s a good bet his agent has spoken with the search firm.

    In this situation NCSU did not need to turn to the Wolfpack Club for additional funds. All the salary package and search expenses were covered completely from within the athletic department. If the salary needs had been in the 3.5-4.0 mil range the WPC would have needed to step in and compliment funds from the athletic department. A bone of contention within the athletic department is that the WPC controls their own funds and the athletic department does not have access to these funds. Deb Yow would love to get her hands on the parking fees that the WPC gets from parking at Carter Finley football stadium.

  • gccoach said,

    Money is green, not trying to start an argument here but, it would be illegal for the wolfpack club to pay for scholarships. I do not know who you get your info from but that is not true. The money comes directly from the school, money that is given by the state and federal gov. Coaches are also paid by the school to a certain extent. The school pays so much and then anything on top of that the athletic department and booster club come up with along with doing tv shows and wearing certain clothes etc… I have a problem believing that people actually do not know where this money comes from.

  • Les Nessman said,

    Can I get a loan down there? Sounds like the money if flowing freely.

  • Money said,

    GC Coach…….as a member of the Wolfpack Club I think you are wrong. My donation actually goes to the NCSU Student Aid Assocation which funds scholarships. Maybe some other money gets paid directly to the Wolfpack Club which may get used for facilities, etc…..but the main point of these clubs is to fund scholarships. While they are refereed to as booster clubs…….I’m sure they are financially structured to provide education legally.

    I suspect it’s that way everywhere and unless you’re are a paying member to them, you might think it’s palm greasing money not allowed for scholarships. Then again, I may be wrong.

  • We actually agree on something said,

    GC,
    Sorry, but you are not correct. At Carolina, and I assume the same to be true with State/Wolfpack Club as well, all athletic scholarships are funded by the Rams Club. The university does not have to fund any athletic scholarships. This is not true at all schools, but it is with those having athletic endowments large enough to do so.