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Started By
Message
Ed Orgeron’s buyout is not too bad
Posted on 10/3/17 at 9:27 pm
Posted on 10/3/17 at 9:27 pm
This is the contract. LINK. O’s contract starts on page 126. The liquidated damges provision is on page 146.
This year he would be owed $12,000,000 minus salary paid to date. If he is fired Nov. 30, 2017 he will have been paid $3,208,333.33. The buyout would be $8,791,666.67. $2,000,000 would be due to CEO in 60 days. The remaining part of the buyout would be paid in equal monthly installments ending 12/31/21. If LSU used the full 60 days to pay the $2,000,000 the first monthly installment would be due 2/28/18.
That leaves a period of 46 months to pay the monthly installments. The monthly installments would be $147,644.93. That amounts to $1,771,739.16 annually. It does not appear that subsequent employment reduces the buyout.
If crowds continue to dwindle, as well as donations and purchases of season tickets, it may make good business sense to fire O. Keeping him could easily cost LSU more than $1,771,739.16 per year. Even when his assistants’ and Alleva’s contracts are figured in it may still cost LSU less to fire O than to keep him.
This year he would be owed $12,000,000 minus salary paid to date. If he is fired Nov. 30, 2017 he will have been paid $3,208,333.33. The buyout would be $8,791,666.67. $2,000,000 would be due to CEO in 60 days. The remaining part of the buyout would be paid in equal monthly installments ending 12/31/21. If LSU used the full 60 days to pay the $2,000,000 the first monthly installment would be due 2/28/18.
That leaves a period of 46 months to pay the monthly installments. The monthly installments would be $147,644.93. That amounts to $1,771,739.16 annually. It does not appear that subsequent employment reduces the buyout.
If crowds continue to dwindle, as well as donations and purchases of season tickets, it may make good business sense to fire O. Keeping him could easily cost LSU more than $1,771,739.16 per year. Even when his assistants’ and Alleva’s contracts are figured in it may still cost LSU less to fire O than to keep him.
14
Posted on 10/3/17 at 9:29 pm to Macavity92
Paying miles + paying orgeron + buying third coach out of contract + paying third coach
Is that this topic is an exercise in futility
Is that this topic is an exercise in futility
Posted on 10/3/17 at 9:30 pm to Macavity92
Isn't LSU paying Johnny Jones on top of Miles?
Posted on 10/3/17 at 9:31 pm to Macavity92
My God, did that man hit the power ball. The only redeeming thing is his reputation will go down as one of the worst coaches in LSU history. So I hope he enjoys his payout. 30 years from now people will be talking about the Orgeron years with disdain. Hope he get's rooked out of every cent he makes off LSU.
Posted on 10/3/17 at 9:32 pm to Macavity92
If they would just ask the fans, I would imagine there would be plenty (myself included) willing to contribute a few hundred towards the buyout in order to preserve our beloved program! 100k folks donate $100 each...
Posted on 10/3/17 at 9:32 pm to Macavity92
The buyout is there because it's a quasi-guarantee that he will be given more than a year.
It's a clause that is never meant to be used.
He's not going anywhere
It's a clause that is never meant to be used.
He's not going anywhere
Posted on 10/3/17 at 9:33 pm to Rouge
Not to mention Joe Alleva's buyout is almost $2mill.
All you can do is shake your head at the stupidity of the people who approve shite like this.
All you can do is shake your head at the stupidity of the people who approve shite like this.
Posted on 10/3/17 at 9:33 pm to Macavity92
You would have to buy out Alleva, O, all the assistants and continue to pay Miles and Jones and you get the picture.
Posted on 10/3/17 at 9:33 pm to Macavity92
He will not be coach next season
Posted on 10/3/17 at 9:33 pm to Macavity92
Damn! Might have to call Loomis and ask him how to deal with all this dead money.
Posted on 10/3/17 at 9:35 pm to doubleb
Whoever thought having the Duke Lacrosse scandal AD as our AD was a good idea should be kicked in the nuts. This cork sucker has done more to damage the school in his contracts than he has good by throwing money at buildings.
Posted on 10/3/17 at 9:35 pm to Tunasntigers92
quote:
He will not be coach next season
Go on
Posted on 10/3/17 at 9:37 pm to BornKjun
quote:
He's not going anywhere
let him have a losing record. a record not seen since 1999. when LSU had NO MONEY and CRAP FACILITIES DINARDo ONLY was allowed TWO losing seasons. you think O gets more than one losing season? now?
Posted on 10/3/17 at 9:38 pm to drdoct
quote:
Whoever thought having the Duke Lacrosse scandal AD as our AD was a good idea should be kicked in the nuts. This cork sucker has done more to damage the school in his contracts than he has good by throwing money at buildings.
Saw a post on a Notre Dame board that said Amoeba makes Kevin White look smart.
Posted on 10/3/17 at 9:38 pm to rmnldr
ya'll are dreaming Coach O will be here next year and the following year too
Posted on 10/3/17 at 9:39 pm to Fat Bastard
I just don't see how he gets fired. Did everybody already forget the 2015 fiasco? Suddenly the admin is gonna pony up double the buyout money every year?
fricking Alleva.
fricking Alleva.
Posted on 10/3/17 at 9:39 pm to Fat Bastard
I'd gladly give 100 bucks.
Posted on 10/3/17 at 9:40 pm to Macavity92
quote:
Even when his assistants’ and Alleva’s contracts are figured in it may still cost LSU less to fire O than to keep him.
Unless LSU's version of T-Boone Pickens steps up, He isn't going anywhere. Hold your nose for two or three years
Posted on 10/3/17 at 9:42 pm to Macavity92
Paying 3 coaches would be bad
Posted on 10/3/17 at 9:42 pm to LesGeaux45
I agree, he's not going anywhere. Alleva made sure of that. Guaranteed payout regardless of performance is idiotic. Especially with a gamble like Orgeron. I'd prefer bonus incentives based on final ranks and conference and national titles.
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