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Message
Did Aggies put a clause in Jimbo's contract
Posted on 11/15/23 at 12:07 pm
Posted on 11/15/23 at 12:07 pm
that allows them to get out of part of buyout if he finds comparable job? or can Jimbo go coach West Va for free and use any salary they give him to donate to NIL collective?
6
Posted on 11/15/23 at 12:11 pm to nicholastiger
You would be god at money laundering.
Posted on 11/15/23 at 12:12 pm to nicholastiger
The way have always understood it was that all the big coaches contracts have a clause like that. They required to seek out a job and whatever the new job pay is gets deducted from what they owed.
Posted on 11/15/23 at 12:18 pm to nicholastiger
Jimbo had no offset clause.
He can work anywhere he wants and AM gets 0 credit.
He can work anywhere he wants and AM gets 0 credit.
Posted on 11/15/23 at 12:19 pm to Ponchy Tiger
quote:
The way have always understood it was that all the big coaches contracts have a clause like that. They required to seek out a job and whatever the new job pay is gets deducted from what they owed.
But he could just take $1 from whoever hires him and make aTm pay his salary.
Then the hiring school could pay record wages to all the other coaches as they could afford it.
Posted on 11/15/23 at 12:21 pm to OU Guy
In this case Jimbo had no offset clause and no requirement to seek work.
He can do anything he wants and A&M gets squat.
Truly an awe-inspiring deal by his agent.
He can do anything he wants and A&M gets squat.
Truly an awe-inspiring deal by his agent.
Posted on 11/15/23 at 12:22 pm to Ponchy Tiger
I think his payout is so quick he probably could get paid and coach anywhere. 25% 19.25 due in 60 Days. At 120 days either the balance or another 25% and goes on from there. Basically I read where they have a payoff plan within contract but it is quick payout.
Based off 77 million owed. Not sure anyone actually knows the exact figure he is owed.
They say when you when a large sum of money go on a long vacation. Because every body you know is going to ask for money. So go somewhere they can't find you for a while.
Based off 77 million owed. Not sure anyone actually knows the exact figure he is owed.
They say when you when a large sum of money go on a long vacation. Because every body you know is going to ask for money. So go somewhere they can't find you for a while.
This post was edited on 11/15/23 at 12:24 pm
Posted on 11/15/23 at 12:24 pm to OU Guy
It doesn’t matter. He has NO offset clause so he gets all his buyout money from TAMU regardless.
And Bielema tried that with the Patriots and Arky sued. Most contracts have verbiage in the offset about market salaries etc so that a coach doesn’t take a job that is paying him under market because of a buyout.
And Bielema tried that with the Patriots and Arky sued. Most contracts have verbiage in the offset about market salaries etc so that a coach doesn’t take a job that is paying him under market because of a buyout.
Posted on 11/15/23 at 12:42 pm to nicholastiger
from what i’ve seen nonoffset no requirement to seek other employment.
I dont see any world where he does anything ever again.
there is no job that pays well enough without stress.
I dont see any world where he does anything ever again.
there is no job that pays well enough without stress.
Posted on 11/15/23 at 12:46 pm to SammyTiger
There’s apparently been some disagreement on whether he has an offset despite what’s been reported. Regardless Jimbo should coach FCS level or even HS football since he or generations of his family will never have to worry about money again.
He hates the CEO part of the role the modern college environment requires and doesn’t want to delegate. He truly enjoys the intricacies and details of coaching. He’s just not fit for what major college football coaching has become. If put him at an FCS program in the southeast he would probably kill it and love life
He hates the CEO part of the role the modern college environment requires and doesn’t want to delegate. He truly enjoys the intricacies and details of coaching. He’s just not fit for what major college football coaching has become. If put him at an FCS program in the southeast he would probably kill it and love life
Posted on 11/15/23 at 12:51 pm to Fun Bunch
quote:
Truly an awe-inspiring deal by his agent.
They got LSU’d
Posted on 11/15/23 at 12:52 pm to Fun Bunch
quote:
Jimbo had no offset clause. He can work anywhere he wants and AM gets 0 credit.
This
Posted on 11/15/23 at 2:19 pm to DeafVallyBatnR
quote:
I think his payout is so quick he probably could get paid and coach anywhere. 25% 19.25 due in 60 Days. At 120 days either the balance or another 25% and goes on from there.
25% due in 60 days is correct, but at 120 days he receives a pro-rata portion of the remaining amount due divided by years left in contract. So, basically he will be paid roughly $7.5 million annually through 2031 to not coach the Aggies. What an absolute bargain.
Posted on 11/15/23 at 11:59 pm to DeafVallyBatnR
quote:
Basically I read where they have a payoff plan within contract but it is quick payout.
That is not correct sir. What I read is he gets the down payment of 25% like you mentioned then the remaining balance / 8 years (end of the contract period 2031) = $7.2m per year until the contract period is over in 2031.
Lets see if the math works out as you see a lot $77m payout, so will use that number.
77m @ 25% = $19.25m
$7.2m x 8 years = $57.6m
Total = $76.85m (close enough as I think the exact price is approx. $76.7)
Posted on 11/16/23 at 5:16 am to nicholastiger
Aggies would have been better off had they just cancelled the 2020 season. Covid cost them a lot more money and will always have a * by it.
Posted on 11/16/23 at 7:51 am to Fun Bunch
quote:
He can work anywhere he wants and AM gets 0 credit.
I think his agent is Jimmy Sexton. It is crazy to think A$M agreed to that. Jimbo has/had no incentive to win games with a 76 million dollar buyout and the ability to coach again without an offset.
Posted on 11/16/23 at 8:06 am to ShaneTheLegLechler
quote:
There’s apparently been some disagreement on whether he has an offset despite what’s been reported.
Multiple respected media figures have said there is no offset clause.
Jimbo could get a lower tier job and get $3million a year and still get his full aggie payout.
This was the most insane contract of all time.
Never forget:
LINK
and
LINK
Posted on 11/16/23 at 4:12 pm to nicholastiger
It was 100% guaranteed. Pretty sure He can do whatever.
One aspect that made the extension so outrageous.
One aspect that made the extension so outrageous.
Posted on 11/16/23 at 4:33 pm to SneezyBeltranIsHere
It was gross negligence on whoever did that contract extension and they should be fired as well.
Posted on 11/16/23 at 4:33 pm to Fun Bunch
quote:
imbo had no offset clause.
He can work anywhere he wants and AM gets 0 credit.
In that case, he needs to come to ULM.
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