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Message
re: Tim Brando and Miles' Buyout
Posted on 10/8/10 at 3:10 pm to Purpltiger
Posted on 10/8/10 at 3:10 pm to Purpltiger
Contract was not rolled over in 08 and 09. Current buyout figure is 11.56m. LSU can pay this off in 4 years .
0
Posted on 10/8/10 at 3:11 pm to wadebrfd
Posted on 10/8/10 at 3:18 pm to DeltaDoc
Very seldom is the full amount paid
Posted on 10/8/10 at 3:22 pm to SouthernMan
quote:
I think the contract automatically rolls with every eight win season so it's at 2014 right now, from my understanding but I don't know for sure.
only at the chancellor's suggestion and the board's approval. call it whatever you want but it has been specifically stated that his contract was not rolled over for the last 2 years.
This post was edited on 10/8/10 at 3:24 pm
Posted on 10/8/10 at 3:25 pm to Elleshoe
They seem to ignore the fact that despite it being presumptive, it is also understood that it will have to be approved by the board of supervisors. Furthermore, it's funny how a chancellor that wasn't even there after January 2008 (as Elleshoe stated) is the one claiming his been rolled over.
EVEN WORSE, he won 7 legit games against FBS (1A) opponents in 2008. Appy State is FCS (1-AA) and shouldn't even be allowed to count (although technically it is).
Again, if his contract really is automatically rolled over no matter what, then we would be utterly stuck with him.
It would make more sense to just cut bait now and eat the cost.
People also ignore the fact that LSU will not be on the hook for Les' full contract unless he actually tries to find a job and cannot get one. They only have to pay the difference.
If it was through 2014, LSU has 8 years to pay it off.
EVEN WORSE, he won 7 legit games against FBS (1A) opponents in 2008. Appy State is FCS (1-AA) and shouldn't even be allowed to count (although technically it is).
Again, if his contract really is automatically rolled over no matter what, then we would be utterly stuck with him.
It would make more sense to just cut bait now and eat the cost.
People also ignore the fact that LSU will not be on the hook for Les' full contract unless he actually tries to find a job and cannot get one. They only have to pay the difference.
If it was through 2014, LSU has 8 years to pay it off.
Posted on 10/8/10 at 3:25 pm to DeltaDoc
quote:
Also, the contract termination clause was changed. If LSU fires Miles without cause, the coach could be owed as much as $15 million, up from $10 million.
This is the last sentence at the very end of the article linked to ESPN dated December 6, 2007.
LINK
Now, I am not saying that still is true. I just find that last sentence interesting.
Posted on 10/8/10 at 3:27 pm to mrbayoublu
It was $15 million prior to the NC. His salary was bumped up after that and so was his buyout in April 2008.
Posted on 10/8/10 at 3:28 pm to knoxious
quote:
The buyout would come from TAF which is seperate from university money for education
True, but still a political nightmare.
Posted on 10/8/10 at 3:29 pm to ashy larry
quote:pheeww. I sure hope so!
the word "presumptively" gives the chancellor the ability to deny it.
Posted on 10/8/10 at 3:30 pm to WacoTiger
****I might be wrong.
I'll find out.
I was right...Yes through 14, 11.3 million AFTER this year
I'll find out.
I was right...Yes through 14, 11.3 million AFTER this year
This post was edited on 10/8/10 at 3:58 pm
Posted on 10/8/10 at 3:32 pm to belowpar
quote:
The buyout is a little over 11.3 million AFTER this season.
where do you get that figure? isn't it just his yearly salary (which would be two more seasons)?
Posted on 10/8/10 at 3:32 pm to Elleshoe
Where has it been specifically stated that it ends on December 31, 2012? By some reporter? The contract and the memorandum interpreting the contract both state that the Chancellor is authorized to extend the term for two years up to December 31, 2014. The Board approved this measure. The Chancellor then issued a memorandum stating that if he wins 8 games, it will be extended one year. He won 8 games or more in 2008 and 2009, so it was extended until 2014. I don't know why you can't understand that?
This post was edited on 10/8/10 at 3:37 pm
Posted on 10/8/10 at 3:33 pm to belowpar
quote:
The buyout is a little over 11.3 million AFTER this season
Which would mean his deal goes to 2013, right? So it was rolled over once?
11.3/3.8 = 2.97, so close enough to 3 for me.
Posted on 10/8/10 at 3:33 pm to belowpar
And IMO I dont think it will or should be sniffed at you UNLESS....
1.) Recruits bail
2.) Attendance drops
3.) LSU loses to AR, AU, BAMA, AND UF.
IF two of these three happen I say run him. Until then....enjoy the ride.
I just upped my par level of bourbon to have on hand.
1.) Recruits bail
2.) Attendance drops
3.) LSU loses to AR, AU, BAMA, AND UF.
IF two of these three happen I say run him. Until then....enjoy the ride.
I just upped my par level of bourbon to have on hand.
Posted on 10/8/10 at 3:35 pm to Elleshoe
quote:
HE DOES NOT HAVE 4 YEARS LEFT. GET IT THROUGH YOUR frickING HEADS
After this season is complete he will have 4 years left. Get that through your fricking head
Posted on 10/8/10 at 3:35 pm to belowpar
If he is terminated prior to December 31, 2010, he is owed for 2011, 2012, 2013 and 2014. I don't know the amount per year, but it would be multiplied by 4 for the 4 years remaining on his contract after this year. The Chancellor was not authorized to extend the term beyond December 31, 2014.
Posted on 10/8/10 at 3:36 pm to belowpar
So what was Mentioned in the tb.com chat was correct
Posted on 10/8/10 at 3:38 pm to WacoTiger
Why don't we just demote him to co-recruiting coordinator along with Frank Wilson, promote Gonzales or somebody else on the staff upon whom you would give the interim or associate head coach title? It would be cheaper and probably more effective.
Heck, shouldn't we be talking about Crowton's buyout anyway?
Heck, shouldn't we be talking about Crowton's buyout anyway?
Posted on 10/8/10 at 3:38 pm to jlc05
quote:
So what was Mentioned in the tb.com chat was correct
If he has 4 years left on his deal, and BelowPar says 11.3 is the buyout, that's less than 4 X his yearly salary.
So I have no idea what the hell is going on
Posted on 10/8/10 at 3:39 pm to WacoTiger
quote:
If he is terminated prior to December 31, 2010, he is owed for 2011, 2012, 2013 and 2014. I don't know the amount per year, but it would be multiplied by 4 for the 4 years remaining on his contract after this year. The Chancellor was not authorized to extend the term beyond December 31, 2014.
Why is this hard to understand?
He has four years left, it would cost LSU $15M to fire him.
HE IS NOT GOING ANYWHERE!!!!
I for one am thankful for that!
Geaux Tigers!!!
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