- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: James Franklin’s contract is tied to $31 million Vanderbilt facility upgrades
Posted on 1/10/14 at 9:42 am to BluegrassBelle
Posted on 1/10/14 at 9:42 am to BluegrassBelle
quote:If we accept this report as true, then all we know is that the buyout is somewhere between $0 and $31mil. Anything else is speculation.
If Franklin was to leave Vanderbilt, the team that brings him on board would be forced to pay off the remainder of the project
But if we are speculating, I would guess that Vandy never approves this project without substantial fundraising before ever getting started. So my guess is that PSU would be on the hook for no more than half of the value of the project.
0
Posted on 1/10/14 at 10:19 am to BluegrassBelle
quote:
As I said before it's probably pretty easy to get out of something like that.
It's a contract. He agreed to it. As long as the cost was not unreasonable, why would you think he could get out of it? Just because it's a large number? Just another lesson in read it before you sign.
Posted on 1/10/14 at 10:34 am to rebeloke
Tommy Bowden contract when he left Tulane was equal to what he made, he would say I don't know why Tulane fans would be mad with me I coached there for free.
Posted on 1/10/14 at 10:48 am to Athanatos
quote:
It's a contract. He agreed to it. As long as the cost was not unreasonable, why would you think he could get out of it? Just because it's a large number? Just another lesson in read it before you sign.
Coaching contracts are routinely some of the easiest contracts to get out of. Why wouldn't I speculate that his would be any different?
But for the sake of entertaining it, do you honestly think it would hold up in court if Vandy saddled him with the full cost of an upgrade/facility? Especially if it's significantly more than his contract AND the cost of the facilities ended up being more than when he signed the contract? I just have a hard time seeing that hold up if it's challenged.
ETA: it's seems far more plausible that he agreed to a percentage of the faculty cost, comparable to a buyout clause even if a little higher than usual.
This post was edited on 1/10/14 at 10:50 am
Posted on 1/10/14 at 11:10 am to BluegrassBelle
quote:
James Franklin’s contract is tied to $31 million Vanderbilt facility upgrades
This post was edited on 1/10/14 at 11:10 am
Posted on 1/10/14 at 11:52 am to BluegrassBelle
quote:
But for the sake of entertaining it, do you honestly think it would hold up in court if Vandy saddled him with the full cost of an upgrade/facility? Especially if it's significantly more than his contract AND the cost of the facilities ended up being more than when he signed the contract? I just have a hard time seeing that hold up if it's challenged.
I don't think anyone thinks PSU would be on the hook for the full 31 million. The facilities upgrades that have occurred were guaranteed to Franklin by the school in the contract, so their value was at least somewhat set, likely with a maximum cost which could be taken into account for the contract. Also, David Williams is a reknowned authority on tax and sports law. Do you think someone like that writes up a contract that won't be upheld in court?
This post was edited on 1/10/14 at 11:53 am
Posted on 1/10/14 at 1:33 pm to DoreonthePlains
Article states that this came from somebody they spoke to in the Vandy athletic dept. I thought Vandy didn't have an athletic dept?
This post was edited on 1/10/14 at 1:35 pm
Posted on 1/10/14 at 1:51 pm to TheDoc
oh hell....what does it all mean?
Posted on 1/10/14 at 1:51 pm to thatdude1985
Is it
Vandy STACKED
Franklin frickED?
Vandy STACKED
Franklin frickED?
Posted on 1/10/14 at 2:45 pm to TheDoc
WIW!! Guess Vandy's poor FB past reputation doesn't reflect their sterling academic reputation . And to thnk they don't even have an AD. Brilliant move!!??????
Posted on 1/10/14 at 3:02 pm to charlieg14
This is what you get when you have a top notch university with top notch business people negotiating contracts with football coaches and agents. There's a reason coaches and agents are rarely in the stratosphere of the very wealthy. They are always chasing a buck. Almost every coach in the news has lost a bundle in bad investments or have gotten ripped off by agents. These people at Vandy aren't some out of work sports coach or figure pretending to be an AD, whipping up deals that can be broken by anyone with a bar card .
Posted on 1/10/14 at 10:10 pm to artompkins
quote:I saw on the rant where the Ark coach made over 5mil per yr? This shite can't be right.
Coach Franklin’s contract is for approximately 3.5 million a year which makes him the fifth highest paid coach in the SEC just behind Nick Saban, Kevin Sumlin, Les Miles, and Steve Spurrier
Posted on 1/10/14 at 11:27 pm to JohnnyBob
How could they legally assign that buyout to another school hiring Franklin?
It would be Franklin responsible for the buyout.
I don't see how is buyout could exceed value of contract
It would be Franklin responsible for the buyout.
I don't see how is buyout could exceed value of contract
Posted on 1/10/14 at 11:43 pm to thelawnwranglers
If the reports are true, it's not that complicated of a procedure. It's a requirement for any school wishing to invalidate Franklin's current contract with Vanderbilt. Also, technically, it's not the same as a buyout because it's not purely a buyout clause, again, assuming the reporting about its existence is correct.
Posted on 1/10/14 at 11:49 pm to DoreonthePlains
The sad thing is the way this is being handled on Vandy's end. I was on your board and there is almost no chatter. Talk about denial.
Posted on 1/11/14 at 2:16 am to rebeloke
It's not denial. Quite the opposite, most have just accepted it. He's gone, and all of the appropriate chatter is taking place on this board. We just don't see the need for extra threads to say the same things over and over.
Page 2 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News