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Message
Alleva left with few options
Posted on 1/11/11 at 7:42 am
Posted on 1/11/11 at 7:42 am
Alleva inherited the dog**** contract crafted by the Rocket Scientist and baseball coach. If you do anything to increase the size of the buyout it is perceived as an act of desperation at best.
The $15 million buyout is the elephant in the room.
The $15 million buyout is the elephant in the room.
This post was edited on 1/11/11 at 7:46 am
3
Posted on 1/11/11 at 7:45 am to Soft_Parade
quote:
Alleva inherited the dog**** contract crafted by the Rocket Scientist and baseball coach. If you do anything to increase the size of the buyout it is perceived as an act of desperation at best.
The $15 million buyout is the elephant in the room.
I agree.
I think they'll give him a significant raise, with a full 5 year deal without a rollover.
That way MIles is assured at least 3 years due to the buyout. But, in 3 years the buyout would be very reasonable should LSU need to go in a different direction.
Posted on 1/11/11 at 7:51 am to Soft_Parade
quote:What parts of the contract would you have changed three years ago when UM needed a coach then?
Alleva inherited the dog**** contract
Posted on 1/11/11 at 7:53 am to LSURussian
quote:
What parts of the contract would you have changed three years ago when UM needed a coach then?
1. annual salary
2. rollover
3. buyout
Posted on 1/11/11 at 7:55 am to LSURussian
I would not have extended the term. Don't know when the 8 wins or more = consideration for 1 more year clause was put in, but if it was in 2007, that would not have found its way into the contract either.
Posted on 1/11/11 at 7:57 am to Soft_Parade
quote:
The $15 million buyout is the elephant in the room.
It's more than that.
Every year he wins 8 games, he automatically gets another year on the original 6-year contract. So, he has a continuous 6-year contract. The buyout would be 6 years multiplied by his salary -- which is about $3.9 million. So, as long as he wins 8 games per year, his buyout is more like $23 million.
Of course, this is the ONE BIG REASON why I think Miles stays ... there's no way Michigan is going to give him that kind of security. He's basically got a guaranteed $23 million coming to him NO MATTER WHAT HAPPENS. Even if Michigan matches his salary, there's no way they'll give him that rollover provision. And, judging by the short leash given to R.R., he could be out in three years.
This post was edited on 1/11/11 at 8:00 am
Posted on 1/11/11 at 7:58 am to moneyg
quote:
I think they'll give him a significant raise, with a full 5 year deal without a rollover.
Weren't there rumors going around yesterday that Alleva would waive the buyout if Les went to UM? Is that BS?
Posted on 1/11/11 at 7:59 am to SlowFlowPro
quote:Miles had just won the BCSNCG. The salary wasn't negotiable, since he had a clause to be one of the highest paid if he won the BCSNCG. The rest, I agree with.
annual salary
Posted on 1/11/11 at 7:59 am to Newbomb Turk
quote:
Every year he wins 8 games, he automatically gets another year on the original 6-year contract
myth
i've read the contract
8 wins gets him the option to have it extended one year, and it hasn't been extended for 2 years, supposedly
Posted on 1/11/11 at 8:00 am to Fishhead
quote:
Miles had just won the BCSNCG.
miles got his new contract before we even played the SECCG
This post was edited on 1/11/11 at 8:00 am
Posted on 1/11/11 at 8:07 am to SlowFlowPro
quote:
8 wins gets him the option to have it extended one year, and it hasn't been extended for 2 years, supposedly
I've read the contract as well. I went back and read it again. I do stand corrected on one item -- the maximum amount they'll have to pay him is $18,750,000.
BUT, with respect to the 8-win language,
Section 3a. of the contract/memo states --
"Winning eight or more games in a season presumptively will be the basis for a one-year term extension."
3b. states -
"A decision by the Chancellor not to grant a one-year term extension for any reason must be concurred in by the President of the LSU System."
The contract is badly worded and inconsistent. While it seems that the Chancellor could "not" grant a one-year terms at his discretion, I think the purpose of 3a. was to override 3b. And, given the way Pokey Chapman's contract was interpreted (through settlement), I'm pretty damn sure that's the way it will be handled.
Posted on 1/11/11 at 8:09 am to Fishhead
quote:
The rest, I agree with.
But the rest was put in before the SECCG, and way before the salary increase (which cam as a condition of his ORIGINAL contract). "The rest" were the items LSU used at the time to try and keep Miles at LSU. The guaranteed salary for winning the NC was already in the contract he had but if you remember, at the time we were not a lock to go to the NC game - alot of dominos had to fall for us to get in.
They gave him long term security by extending his contract and putting in a huge buyout because that's what he wanted. The pay raise came after the NC win as a condition of the original deal.
Posted on 1/11/11 at 8:13 am to Newbomb Turk
quote:
So, he has a continuous 6-year contract.
I thought the rollover part only went through 2014...not a perpetual thing until the end of time.
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