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Started By
Message
re: Les get $125,000 per month
Posted on 9/29/16 at 1:17 pm to lsufan1971
Posted on 9/29/16 at 1:17 pm to lsufan1971
quote:
IF LEs gets a job paying over 1.5 million a year the LSU can reduce its amount to les by the overage amount. One thing that is going to make LES atttactive to another school is they can say hey will pay you 1.495 million a year. Les still brings home 3 million a year.
Well if that's how it works, disregard my last comment.
1
Posted on 9/29/16 at 1:22 pm to toothfxr92
Posted on 9/29/16 at 1:23 pm to nola000
quote:
I would imagine the only way he takes another job is if it pays more than his LSU stipend. Considering
He also has to attempt to find other employment in order to receive the stipend. If not LSU is not obligated to pay him.
These things are usually settled for a lesser amount to just walk away free and clear.
Posted on 9/29/16 at 1:25 pm to toothfxr92
He earned it. We'll be just fine and so will Les. I'd be fishing right about now.
Posted on 9/29/16 at 1:26 pm to Volvagia
LSU has 6 around years to pay out his 11 mil or whatever.
If he finds a job that will pay 2 mil per year for the next 6 yrs then, arguably, LSU won't owe him anything. (6 x 2 being 12 mil, Les not losing any money)
If he finds a job that will pay 2 mil per year for the next 6 yrs then, arguably, LSU won't owe him anything. (6 x 2 being 12 mil, Les not losing any money)
Posted on 9/29/16 at 1:28 pm to Cash
quote:
He also has to attempt to find other employment in order to receive the stipend. If not LSU is not obligated to pay him.
Wow. I didnt know that.
Posted on 9/29/16 at 1:30 pm to TaderSalad
quote:
And folks pity the old fart for being fired
It's not about the money. I'm sure Les is financially set for life if he never got another penny from LSU. I think he invested many, long days for 12 years of his life and hoped to walk away on his own terms with his legacy that he was the winningest coach in the history of the school. I think the move was best for the program but if you can't feel for Les for what was taken from him, then I don't know what to tell you.
Posted on 9/29/16 at 1:31 pm to Jim Rockford
quote:
Pat Summitt had a better severance package. She, and now her son, gets $173K for life.
The present value of Miles's payout is 2-3x more than the value of Pat and Tyler's annuity when it began in 2012.
Posted on 9/29/16 at 1:33 pm to slackster
Saban can hire Les for $1.00 a year
Posted on 9/29/16 at 1:33 pm to Volvagia
quote:
Les is guaranteed to make his contracted amount even if he doesn't work
But he's contractually obligated to make a good faith effort to find employment. He can't just sit at home and do nothing.
It is for that reason that these buyouts usually get settled for a lesser amount so that Miles can in fact do nothing and still collect a check.
Posted on 9/29/16 at 1:35 pm to GRTiger
quote:
IF LEs gets a job paying over 1.5 million a year the LSU can reduce its amount to les by the overage amount. One thing that is going to make LES atttactive to another school is they can say hey will pay you 1.495 million a year. Les still brings home 3 million a year.
I don't think that's how it works. Many standard contracts contain a covenant that terminates a buyout if a new contract is more than the buyout amount (i.e. If Les signs a contract with Penn State for 1M a year LSU would own him 500,000/year for the life of the buyout. If Les signs a contract with Penn State for 2M/year LSU would owe him nothing).
Posted on 9/29/16 at 1:35 pm to Bayoutigre
quote:
Saban can hire Les for $1.00 a year
Doesn't work like that
Posted on 9/29/16 at 1:39 pm to toothfxr92
He could line up as many speaking engagements as he wanted for $125,000 a pop. Not to mention SEC Network/ ESPN etc, they will throw some bank at him without a doubt. Bottom line--he is certainly not going to be lacking in any way financially...
Posted on 9/29/16 at 1:40 pm to nola000
He will have another HC job next season
Posted on 9/29/16 at 1:40 pm to toothfxr92
I don't know why they gave that idiot an extension.
Posted on 9/29/16 at 1:42 pm to foghat
quote:
I don't know why they gave that idiot an extension.
because when Petrino fricked up Alleva took the bait like an enlisted guy on his first trip to a Filipino whore house
Posted on 9/29/16 at 1:52 pm to toothfxr92
Stay in BR, learn golf, host charity events, wave to the crowd at the occasional reunion. Made in the shade.
Posted on 9/29/16 at 1:53 pm to The Belk
quote:
He will have another HC job next season
Yeah, Texas A&M. Didn't you hear? And he's going to own us.
I forget what idiot said that but C'Maahhhn.
Posted on 9/29/16 at 1:56 pm to Volvagia
quote:
Les is guaranteed to make his contracted amount even if he doesn't work
So if he takes a job, they pay him and LSU pays the difference (if any) to get that amount.
It's not the "if he takes a job he loses the LSU money" that some seem to think it is.
I wonder if the wording in his buyout requires him to mitigate his loss or if he can choose to sit on his arse doing nothing.
This post was edited on 9/29/16 at 1:57 pm
Posted on 9/29/16 at 2:00 pm to lsufball19
quote:
I wonder if the wording in his buyout requires him to mitigate his loss or if he can choose to sit on his arse doing nothing.
He has to try to find another job. If he doesn't, LSU can say that he would have been able to earn $500k as an analyst for ESPN (just as an example) and then they can reduce his buyout by that amount.
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