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If Les takes another coaching job do we still owe buyout?
Posted on 11/18/16 at 4:58 pm
Posted on 11/18/16 at 4:58 pm
No message
4
Posted on 11/18/16 at 5:00 pm to pcolatiger28
Buyout goes down by amount paid by new gig.
Posted on 11/18/16 at 5:06 pm to pcolatiger28
My understanding is that his new salary would be deducted from from his remaining salary at LSU.
For example - if LSU owes him 4.5 and he's paid 3.0 by someone else, then LSU would only be responsible for 1.5.
For example - if LSU owes him 4.5 and he's paid 3.0 by someone else, then LSU would only be responsible for 1.5.
This post was edited on 11/18/16 at 5:07 pm
Posted on 11/18/16 at 5:41 pm to pcolatiger28
What if it's a studio job?
Posted on 11/18/16 at 6:00 pm to pcolatiger28
quote:
Les takes another coaching job do we still owe buyout?
A German one, apparently.
Been discussed at length already but I realize some folks haven't really been wondering about it until now.
The buyout will be reduced by the amount of the new job over the time period of the buyout(buyout was not lump sum but over a period of years).
Posted on 11/18/16 at 6:02 pm to clamdip
quote:
What if it's a studio job?
Any job, I believe. Definitely any football related job, even if it's for ESPN or one of the networks for football.
Posted on 11/18/16 at 7:09 pm to mdomingue
Buyout is not his salary. LSU owes him about 1.5mil yr next 6 yrs. whatever he makes gets taken from that
Posted on 11/18/16 at 7:10 pm to mdomingue
And FWIW, Les is required to actively and reasonably look for work, according to his buyout.
But trust me, Les is in no hurry and will not hop at the first job offered.
But trust me, Les is in no hurry and will not hop at the first job offered.
Posted on 11/19/16 at 3:37 pm to matsuflex
quote:
Buyout is not his salary. LSU owes him about 1.5mil yr next 6 yrs. whatever he makes gets taken from that
Right, I stated it badly. I was trying to express that the buyout is not a lump sum but a yearly amount and (I think this is right) the amount he makes once he gets a job reduces whatever is left on the payout (anything already paid out is still his I think). So if he makes 3 million per year, his buyout would be reduced to 0 in 3 years but if he makes 1 million per year I assume that he would get .5 million each year as is sum was reduced by 1 million. I'm sure that is all called out in the buyout contract.
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