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re: Alleva has a 2 million dollar buyout - Martin Blank
Less an offset for money earned in the future. If he gets a mid major AD job at $200k a year for the next three years you're looking at under $1 million total for the buyout. And it's paid over double the remaining time. If it's 34 months left then Alleva gets paid monthly for the next 68 months...
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re: Alleva Termination Timeline - between October 13 and December 9? - Martin Blank
That makes a lot of sense, but would give Alleva a lot of power in that negotiation (insert joke here). He could take a slight haircut to go away quietly, but the natives get more restless with each passing day so Joe knows that if he stalls he can get more $ from the BOS. Regardless of how much pow...
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re: Alleva Termination Timeline - between October 13 and December 9? - Martin Blank
Agreed. I'm just trying to figure out if there is a practical way to get Alleva fired before the December 9 BOS meeting. No point in firing Alleva incorrectly to satisfy the bloodlust of the LSU fanbase, only to owe him more money on the back end, and scare off good AD replacement candidates. ...
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re: Alleva has a 2 million dollar buyout - Martin Blank
The actual Alleva figure, once you factor in the income from future employment, is probably much closer to $900,000, payable monthly over 5 1/2 years. That works out to about $13,500 per month, which is about what LSU would pay a well-regarded shadow staff member. ...
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re: Alleva Termination Timeline - between October 13 and December 9? - Martin Blank
The "time critical" phrase had to do with Miles getting a $100k bump in his possible, potential, theoretical (whatever adjective you need to understand it wasn't an actual raise) bowl incentives. He was fired September 25 and that meeting was October 9. So voting on the bowl incentives of a coach yo...
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re: Alleva Termination Timeline - between October 13 and December 9? - Martin Blank
Are you sure about this? All I can find is a September 9, 2016 resolution to approve a slight bump in Miles' bowl incentives, and an October 21, 2016 (i.e. after he got fired) statement from Athletic Committee chair Chatelain that deferred it to another meeting since it was not "time critical." D...
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Alleva Termination Timeline - between October 13 and December 9? - Martin Blank
I posted this in response to a thread a few days back, but this seemed better suited to its own topic. I'm hoping we have some folks in here who've actually dealt with the BOS on some level. Perhaps someone more well versed in BOS procedure can correct me, but my reading of the BOS Bylaws is that...
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re: Why isn’t Joe Alleva Fired yet - Martin Blank
Perhaps someone more well versed in BOS procedure can correct me, but my reading of the BOS Bylaws is that only the BOS can take action on something like firing an Athletic Director (see "Matters Requiring Approval by the Board, Section 11(b), pg 11). [link=(https://www.lsu.edu/bos/docs/LSU-Bylaw...
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re: The buyout is just under $9.4 Million and decreasing daily... - Martin Blank
There are other issues to consider like: - Has Miles been paid a lump sum to go away, or is he still getting monthly checks? - Did TAF buy an annuity to fund the monthly checks so that it's a sunk cost anyway? - The assistants' salaries and offsets (I haven't looked at those contracts yet)...
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re: The buyout is just under $9.4 Million and decreasing daily... - Martin Blank
Yes. The Orgeron contract breaks down like this: $500k a year from LSU $500k a year from TAF $2.5 mil a year from Radio and TV The first two combine for $1 million a year. It gets paid to O direct. The TV money goes to O's LLC for tax purposes. His buyout numbers are listed in terms o...
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re: The buyout is just under $9.4 Million and decreasing daily... - Martin Blank
Even better, the financial details of Alleva's contract won't prevent him from being fired at all. In fact, once fired Alleva will cost about as much as a shadow staffer, for 5 1/2 years. Alleva's contract runs from July 1 to June 30 of each year, now til June 30, 2020. If he were fired today he...
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re: The buyout is just under $9.4 Million and decreasing daily... - Martin Blank
LSU puts all of its athletic contracts online now, no doubt to stem the tide of FOIA requests. See link below for Alleva, Orgeron, and others: [link=(http://www.lsusports.net/ViewArticle.dbml?ATCLID=204783010)]All LSU Athletic Contracts[/link]...
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re: Cam Akers update! - Martin Blank
I know for sure that Miles'contract had an "including but not limited to" list of things that could get you fired for cause (i.e. no buyout). "(O)ne or more major, significant or repetitive" SEC and/or NCAA violations was definitely on the list. ...
Posted on LSU Recruiting
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re: LSU will be hiring a firm to do a national coaching search - Martin Blank
More specifically, so that there can be direct communication with agents and/or coaches that isn't subject to the Freedom of Information Act. Using the search firm prevents reporters from getting negotiation emails, cell phone records and the like. ...
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re: Jimbo contract does not contain the lsu clause in his contract. it was removed - Martin Blank
I haven't had a chance to grind through it either, but that's what I saw. Very broadly worded clause about not looking for jobs that I like to call a "Jack Del Rio" clause, that drops to $3 million on 1/1/17. A PDF to the actual contract can be found on FSU's SB Nation site: [link=(http://www....
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re: If not a Toyota 4runner then what? - Martin Blank
I just pulled the trigger on a used '15 Limited. I found that there was almost no price difference among '13, '14 or '15, and from about 30k to 50k the mileage didn't matter either. Mine had 40k on it, and my backup choice was a '14 with 52k miles on it that was actually $600 more by the time I purc...
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re: According to Guilbeau, buy out is half of what is believed? - Martin Blank
Thanks. A nearly as I can tell from a quick glance, the money from all of his sources (state, radio/TV, TAF, etc) is paid monthly on the last business day of the month. Looks like this year the last business day of December 2016 is Friday the 30th. Given that my guess is his date of termination, if ...
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re: According to Guilbeau, buy out is half of what is believed? - Martin Blank
I can't recreate GG's math but let's face it - if he could do math or read a contract he wouldn't be a small time local sportswriter. My math is the same as yours as to a firing in 2016. $12.9 million minus the $4.3 he's paid this year is $8.6 million. It's also payable monthly over twice the num...
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re: Les Miles still favored to remain coach through end of season - Martin Blank
There is an offset for his current salary, and the buyout figure itself doesn't change until after the 2017 season so there is no difference firing him tomorrow, or 14 months from now. The starting figure is $12.9 million from now til 12/31/17, offset by what he's paid in season. So after he is paid...
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re: Anyone have access to black book values for used cars? - Martin Blank
You would think so, but they're barely budging on the price. Makes me think that either carguymatt is right and the floor plan interest on this vehicle isn't very high, or that they just have so much $$$ sunk into this 4Runner that they have a hard number they have to get to break even. Good ne...
Posted on Money Talk
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