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Search Firm

IUNorth

IUNorth

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Oct 25, 2002
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for those that might be more in the know...

Does IU hiring a search firm mean they aren't getting any where with their top choices?

Can't imagine the need if they knew it was gonna be Alford...or Marshall...or Donovan, etc...

What's the need and/or point of a search firm. I think it's safe to assume the next coach is well known, and that they're fully aware that the IU position is open.

Sorry if this has already been discussed.
 
The firm was not hired to supply a list of candidates but to help with communications, background checks, and maybe negotiations.

Missouri hired the same firm 48 hours before Martin was announced.

What does that mean here? It means IU is in communication with at least one (probably more) candidate to get requirements and/or interviews.

Wouldn't be surprised if an interview has or will happen shortly.
 
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Sope Creek said:
Hmmm . . . that's what I thought the lawyers were for.
Click to expand...
I assume at least two lawyers are part of the "search firm." They are basically outside council/consultants hired to help execute a major transaction properly.

Edit: Hiring a search firm provides Indiana deniability as to whether or not they have contacted candidates to gauge their interest in the job, etc. Communication through back channels with coaches in multimillion dollar contracts needs to be managed by a third party. Also, it helps to have outside cancel to handle buyouts, existing contracts, etc.
 
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IUNorth said:
for those that might be more in the know...

Does IU hiring a search firm mean they aren't getting any where with their top choices?

Can't imagine the need if they knew it was gonna be Alford...or Marshall...or Donovan, etc...

What's the need and/or point of a search firm. I think it's safe to assume the next coach is well known, and that they're fully aware that the IU position is open.

Sorry if this has already been discussed.
Click to expand...
First thing they do is round up all the corner panhandlers with "Will coach for food" signs.
 
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The Vid said:
I assume at least two lawyers are part of the "search firm." They are basically outside council/consultants hired to help execute a major transaction properly.
Click to expand...

I see this a lot. OK so IU has a large HR department. Also the AD himself is a lawyer, and has a staff. IU also has in-house legal. Why do they need to hire this out? Or is it an admission that all the in-house people are incompetent?

I think it's simple CYA. Someone to blame if something goes wrong.
 
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ams66 said:
I see this a lot. OK so IU has a large HR department. Also the AD himself is a lawyer, and has a staff. IU also has in-house legal. Why do they need to hire this out? Or is it an admission that all the in-house people are incompetent?

I think it's simple CYA. Someone to blame if something goes wrong.
Click to expand...

Or it could be that they ( the HR department and AD) don't write contracts like this, ever. Go find people that specialize in this and have them deal with the details. Would you have your friend who is an accident attorney write a business deal? I hope not.
 
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ams66 said:
I see this a lot. OK so IU has a large HR department. Also the AD himself is a lawyer, and has a staff. IU also has in-house legal. Why do they need to hire this out? Or is it an admission that all the in-house people are incompetent?

I think it's simple CYA. Someone to blame if something goes wrong.
Click to expand...
A small percentage of big business deals are handled solely by inside council. If they were "competent" enough to handle this one they would be working somewhere else. If they are really going big, they should have outside help.
 
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IUNorth said:
for those that might be more in the know...

Does IU hiring a search firm mean they aren't getting any where with their top choices?

Can't imagine the need if they knew it was gonna be Alford...or Marshall...or Donovan, etc...

What's the need and/or point of a search firm. I think it's safe to assume the next coach is well known, and that they're fully aware that the IU position is open.

Sorry if this has already been discussed.
Click to expand...
A search firm gives both the school and the applicants some separation from the process and provides a degree of plausible deniability.
 
Don't read too much into it. This just changes the classification of the position so they don't have to post it for 2 full weeks per IU's HR policy. It also allows the search to be done with the type of flexibility described in the other posts above.
 
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ams66 said:
I see this a lot. OK so IU has a large HR department. Also the AD himself is a lawyer, and has a staff. IU also has in-house legal. Why do they need to hire this out? Or is it an admission that all the in-house people are incompetent?

I think it's simple CYA. Someone to blame if something goes wrong.
Click to expand...

Its probably similar to the recommendations that doctors shouldn't have family members as patients. Its good to have an outside perspective so that personal feelings don't get in the way.
 
IUNorth said:
for those that might be more in the know...

Does IU hiring a search firm mean they aren't getting any where with their top choices?

Can't imagine the need if they knew it was gonna be Alford...or Marshall...or Donovan, etc...

What's the need and/or point of a search firm. I think it's safe to assume the next coach is well known, and that they're fully aware that the IU position is open.

Sorry if this has already been discussed.
Click to expand...
This actually partially confirms something I heard Friday evening. A friend told me his brother had knowledge of the interest in a few coaching candidates. His brother works with IU and a firm that would be involved with contracts for the university. I didn't disclose what was said as I can't confirm it from the source and it is only interest, not a deal in place. If he is right, they had early interest in a candidate I would be happy to have coach IU. I wouldn't expect they have closed their search, but I wouldn't be surprised to learn our wish list is similar to the AD's list.
 
IUNorth said:
for those that might be more in the know...

Does IU hiring a search firm mean they aren't getting any where with their top choices?

Can't imagine the need if they knew it was gonna be Alford...or Marshall...or Donovan, etc...

What's the need and/or point of a search firm. I think it's safe to assume the next coach is well known, and that they're fully aware that the IU position is open.

Sorry if this has already been discussed.
Click to expand...
I'm told that the search firm was hired to finish the process or write up the contract that has already been agreed upon.
 
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ams66 said:
I see this a lot. OK so IU has a large HR department. Also the AD himself is a lawyer, and has a staff. IU also has in-house legal. Why do they need to hire this out? Or is it an admission that all the in-house people are incompetent?

I think it's simple CYA. Someone to blame if something goes wrong.
Click to expand...

You could have stopped at "I see this a lot." This is a routine procedure in these types of sitations, and not just in sports.
 
There are a few I'll classify less than intelligent guys on Twitter who always are harping on the search firm issue. Let's assume for numbers sake our next coach is signed to a $30 Million deal. $75,000 to a search firm to dot I's, cross T's....and do other checks to make sure IU is covered represents less than 1/4 of 1% of total contract.

The Jeff Goodman and Brian Snow types always bang on schools for spending the $. It's obvious they've never spent a day inside any sort of high level negotiation.

To put it another way. Someone who spends $300 on a $100,000 home purchase for inspection...is spending a higher percentage.
 
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Fail and Bail said:
This really worries me. This is the same firm that landed us Kelvin Sampson.
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You realize they don't force you to hire people, right? A lot of times they just help with negotiations and contracts. Herbert wanted Sampson, so that's who we got.
 
chris007 said:
Maybe the same people who told you & me that a certain person handled the firing not Glass. Same people DD was ripping on the radio.
Click to expand...
Glass handled the firing. He wasn't the one who drove it, however. And I guarantee our sources aren't the same person.
 
Sope Creek said:
Hmmm . . . that's what I thought the lawyers were for.
Click to expand...

Don't let these people who think search firm's are hired just to do contract negotiations fool you. They'd be totally wrong.

They are the "go between" between universities and candidates as far as whose strongly interested, whose mildly interested, who IU is interested in that may not be interested in IU. They also do background checks, etc. Arrange for calls/meetings.

This doesn't mean Alford or Donovan or anyone is eliminated from thought, but it also means the search isn't as drop dead on one or two particular candidates as some want to think it is.
 
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Tony20 said:
There are a few I'll classify less than intelligent guys on Twitter who always are harping on the search firm issue. Let's assume for numbers sake our next coach is signed to a $30 Million deal. $75,000 to a search firm to dot I's, cross T's....and do other checks to make sure IU is covered represents less than 1/4 of 1% of total contract.

The Jeff Goodman and Brian Snow types always bang on schools for spending the $. It's obvious they've never spent a day inside any sort of high level negotiation.

To put it another way. Someone who spends $300 on a $100,000 home purchase for inspection...is spending a higher percentage.
Click to expand...

Before you make it sound like you know everything about what a search firm does, stop. You my friend seem to be the one who needs educated here; not you to others.
 
frydaze said:
Don't let these people who think search firm's are hired just to do contract negotiations. They'd be totally wrong.

They are the "go between" between universities and candidates as far as whose strongly interested, whose mildly interested, who IU is interested in that may not be interested in IU.

This doesn't mean Alford or Donovan or anyone is eliminated from thought, but it also means the search isn't as drop dead on one or two particular candidates as some want to think it is.
Click to expand...
Already been stated at least three times in this thread
 
frydaze said:
Don't let these people who think search firm's are hired just to do contract negotiations fool you. They'd be totally wrong.

They are the "go between" between universities and candidates as far as whose strongly interested, whose mildly interested, who IU is interested in that may not be interested in IU. They also do background checks, etc. Arrange for calls/meetings.

This doesn't mean Alford or Donovan or anyone is eliminated from thought, but it also means the search isn't as drop dead on one or two particular candidates as some want to think it is.
Click to expand...

Thanks, I appreciate the heads up.

For the record, I've been practicing law for almost 36 years now, mostly negotiating complex commercial agreements for the last 23 of 'em including a few with regional, national and global search firms. You're right, the search firms play yenta . . . and the lawyers perform the legal sacraments on the relationship, whether it's the wedding vows or last rites.

Also for the record, there is no such thing as a "standard" coach's employment contract. Each one of these things starts with somebody's form document, and then gets customized based on the relative leverage each of the parties has, the few sacred items each side will want to impose on the deal, and the talent of the representatives on each side. There will be more than one lawyer on each side of this if it's a heavy-hitter like either Donovan or Alford - staff salaries and moving expenses, timing of the start date, recruiting budget (hopefully some of Crean's recruiting budget can pay some of the new guy's salary) and on and on and on. My guess is that Underwood's deal at Illinois was pretty quick and painless by comparison.
 
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