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Tiger Head Football Coach Buyout 2016 and Beyond?
Posted on 12/3/15 at 9:43 am
Posted on 12/3/15 at 9:43 am
Will it still be $15MM at the end of next season (2016), or does it decrease annually going forward?
At what point does it drop below $10MM?
TIA
At what point does it drop below $10MM?
TIA
This post was edited on 12/3/15 at 9:47 am
3
Posted on 12/3/15 at 9:45 am to SwatMitchell
it actually increases to $20M next year, and another 5M every year after that until it hits an even $100M.
This post was edited on 12/3/15 at 9:46 am
Posted on 12/3/15 at 9:46 am to The Egg
quote:
until it hits an even $100M.
I thought it was eleventy billion dollars
Posted on 12/3/15 at 9:47 am to The Egg
quote:
it actually increases to $20M next year,
not accurate. it's 20 million only for firing without cause. it goes up to 17.5 for firing for can't beat bama.
Posted on 12/3/15 at 9:47 am to Chad504boy
you are right, i forgot about that clause in the contract.
Posted on 12/3/15 at 9:49 am to Chad504boy
and if he leaves on his own, it goes up to $22.5M for us not trying hard enought to retain him.
Posted on 12/3/15 at 9:50 am to SwatMitchell
quote:
That buyout would be $15 million if Miles is terminated prior to Dec. 31, 2015. It would then drop to $12.9 million for the contract's fourth and fifth years, to $8.6 million for the sixth year and $4.3 million for the seventh.
Posted on 12/3/15 at 10:00 am to jrodLSUke
Thanks jrod - I hadn't seen those figures...
Posted on 12/3/15 at 10:08 am to SwatMitchell
LSU also has to pay the Gridiron Club $1 million for the goodwill it loses when Miles leaves
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