Joe Moglia Brings Everything but Experience to UFL's Virginia Destroyers

He's not Dennis Green, Jim Fassel, Chris Palmer, Jay Gruden or Jeff Jagodzinski. Joe Moglia is the outlier. While his fellow head coaches bring with them a wealth of experience at the NFL and college level, Moglia simply brings -- well, his wealth.

The former CEO of TD Ameritrade is wealthy -- beyond wealthy, to be more specific.

The self-made, 60-year-old with a no-nonsense attitude and a New York accent was brilliant on Wall Street, guiding TD Ameritrade from $700 million to $10 billion from 2001-08. And when he stepped down from the online broker in 2008, Moglia had plenty of options as of what to do next.

He could take opportunities to remain in the financial world. He could have his own TV or radio show. Or, he could simply kick his feet up and enjoy his wealth.

Instead, he headed back to coaching football. On Wednesday, Joe Moglia was named the head coach and president of the United Football League expansion team, the Virginia Destroyers.

Initial reaction to the new franchise's hiring of Moglia falls somewhere between confusion and intrigue. Without doubt, the move will be met with speculation.

He's Wall Street.

He hasn't coached in 27 years and even then, his resume is a bit thin. He spent 1981-83 as defensive coordinator at Dartmouth College, following time as a defensive and special teams coach at Lafayette College in Pennsylvania. Prior to that, Moglia was head coach for two high school programs from 1971-78.

So is Moglia the best fit as a head coach for a professional football league that is howling for respect as a legitimate, competitive product?

"Let's be real," said Doug Williams, general manager for the Virginia franchise set to launch in the 2011 season. "Everybody would say a guy coming out of the NFL or college for the last 20 years would be the best candidate. But when you look across the board, there are a lot of those guys who were the best candidate and who aren't doing well."

Williams added, "This league is not a conventional league like the NFL. That's what makes this interesting and viable. We can go out of the box."

Leagues like the XFL didn't last because fans ultimately rejected gimmicks or public relations stunts. The XFL also received too much TV exposure -- a deal made with NBC put a product in prime time long before the quality of play was ready for the masses. But you get the sense from the UFL, Williams and Moglia that this isn't a ploy for attention.

He's not Dennis Green, Jim Fassel, Chris Palmer, Jay Gruden or Jeff Jagodzinski. Moglia is the outlier. While his fellow head coaches bring with them a wealth of experience at the NFL and college level, Moglia simply brings – well, his wealth.
When Moglia stepped down as CEO of TD Ameritrade, he could have gone in a number of directions. But he chose to involve himself in football; serving long hours each week with Nebraska head coach Bo Pelini as a consultant for the program. He's been with Nebraska since 2009.

"Joe has been a great asset to our football program," Pelini said in a press release. "Our entire football staff at Nebraska has learned a lot from him. He is a phenomenal person and leader, and a very driven person.

"People just take to Joe. He has a personality that people are drawn to, and I think that is part of the reason he has been so successful in everything he has done. Joe has sacrificed a lot to chase his dream of being a head coach, and I am happy for him that this opportunity has come along. He will be a great leader for that organization, and positive presence in the UFL."

Moglia is serious about this coaching thing. He even has his own coaching Web site at coachjoemoglia.com.

"In both roles you've got to be able to relate with people, unite and excite them, have a plan and a mission, and be able to rally the entire group around a cause that you have to execute," Moglia said. "The only thing you change is that it's a game plan instead of business plan, a player instead of an associate, and an opponent instead of client."

Outwardly, it's easy for Mogolia to appear as an arrogant CEO type, egotistical enough to think he can dominate football just like he did the financial world.

But this isn't just a retirement project.

"This is not a hobby," Moglia said. "This is not golf on the weekend. This is what I want to focus the rest of my career doing."

He's sold Williams and the UFL, too.

"He has passion," Williams said. "You sit there and listen to the guy and you hear it. The time that he has spent in Nebraska – he didn't have to do that. He has been successful. He wants to do it, he wants to coach. He is so driven that he wants to prove to anyone that he can coach and administrate like anyone else.

"Life is about opportunity, and when someone gets one, it's up to that person to take it. I don't think Joe likes failure; I don't think that's an option for him."

And why not Moglia? He's not a retread. He took a different path, proved himself successful, and evidently has a great passion and knowledge for the game.

He's one of the nation's most successful businessmen. He wouldn't rededicate himself to an endeavor unless he thought he could be just as successful, right?

"I am really a coach going back to coaching," Moglia said. "At this point in my life, I can go back to anything I want. I choose to be a head football coach."

For the UFL and for Moglia, time will tell.