Miles buyout agreement and coaching

Football Scoop

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Les’ contract runs through December 2019 (3 years, 3 months from now). By contract, if he is terminated, his buyout is paid out monthly over a period of time double the remaining term…thus, he’ll be paid out over 6 years, 6 months.


His stated buyout is $12.9 million; but by contract you reduce from that any amounts paid to him in this calendar year.

Les makes $4.3 million per year plus bonuses. Depending on what has already been paid in calendar 2016, that is what sets his buyout.

For illustrative purposes, let’s assume 9/12s have been paid, thus approximately $3.2 million.

So, his stated buyout was $12.9 million, less the $3.2 paid in 2016. Hence, Les will be paid approximately $9.7 million over the next 6 years, 6 months.

Assuming Les does not accept further work, he would receive approximately $125,000 / month for the next 6 years, 6 months.

To the extent he accepts any other job, the amount LSU owes would be reduced dollar for dollar.

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If I remember right from last year...

LSU pays Miles his salary monthly until his contract expires minus what he makes from another job. If someone offers him $2.0 mil and it is a legit market offer then we have to pay the difference. He cannot go coach UK for $100K a year; not a market offer.

He also cannot retire on us. He has to seek other employment, hence all the comments on he would like to coach again.

There was also discussion whether going to be an ESPN pundit counts toward his football earnings.

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LSU pays Miles his salary monthly until his contract expires minus what he makes from another job. If someone offers him $2.0 mil and it is a legit market offer then we have to pay the difference. He cannot go coach UK for $100K a year; not a market offer.

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So how exactly is a market offer determined. It's 1 thing if he goes to say UK and they pay him $2M a year, is that considered enough of a market offer for an SEC coach, or clearly a little low? How do we argue the new salary is too low I guess is what I'm asking? Do they have something in the contract that a market offer is at minimum the lowest (CURRENT) paid coach in that conference maybe?

I mean he could go to a small school like a Central Michigan and work for $400k/year. That's nothing, but is that a "market offer"? I mean, it could be argued that way.

How did he abandon it?

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That last extension we gave him was foolish.

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the last extension we gave him LSU was coming off a 3 year combined record of 35-5. Extending him was the correct call at the time.

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quote: So how exactly is a market offer determined. It's 1 thing if he goes to say UK and they pay him $2M a year, is that considered enough of a market offer for an SEC coach, or clearly a little low? How do we argue the new salary is too low I guess is what I'm asking? Do they have something in the contract that a market offer is at minimum the lowest (CURRENT) paid coach in that conference maybe? I mean he could go to a small school like a Central Michigan and work for $400k/year. That's nothing, but is that a "market offer"? I mean, it could be argued that way. And this is why lawyers drive BMWs

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And also why they are likely working on a lump sum settlement for an amount lesser than the total buyout.

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And this is why lawyers drive BMWs

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I mean, if we put something like that in his contract stating his new coaching gig has to be a "market offer", our lawyers suck if they didn't define what a "market offer" is. Because that's not something you want to argue in court if you feel like he is low balled elsewhere.

I work with a lot of contracts, and you can definitely tell the good ones vs. the bad ones in who knows what they're doing and who doesn't. Heck I've seen company's agree to contracts with my company repeatedly where there is a major component missing and we have to always argue about it later on during a disputes process with them...but that's done on purpose

Or he could head coach or position coach at another school as a "volunteer". That way he gets to coach, and LSU is paying his salary at 1.5 mil per year.

He arguably abandoned the contract through his conduct. By failing horribly in executing his obligations prescribed in the contract. How can you take the same players and look like junk against Jax State, and then with the same played without him beat an SEC school 43-7? Not to mention his stubbornness with QBs.

Not saying you win it, but you force him to litigate and spend attorneys' fees. Wonder if he has a prevailing party provision in his agreement? If not, then I'd make that DB get a court order to get another dime out of me.

But hey, I play big boy business, not that patty cake shite some of you boys play.

You don't Plat "big boy" business. You play sleazy, short-sighted business. Do your best to renege on every material obligation you have. See who is willing to do business with you then, and how they approach fulfilling theirs. I have done business at the very top of the pyramid, and I know what real "big boys" think of bottom feeders like you.