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Message
1
Posted on 1/4/11 at 9:16 am to ApexTiger
quote:
I think the buyout for Miles is too much to overcome making Hoke the easy second choice
Incorrect
quote:
Miles has a special clause in his contract that would allow him to go to UM..
No buyout at all
Also incorrect.
If Miles leaves LSU for the Michigan job, he owes LSU $1.5M. If he leaves LSU for any other job, he owes $0.
Posted on 1/4/11 at 9:17 am to jlc05
quote:
You could'nt be more wrong...He has a special clause that penalizes him if he goes to Michigan..
I think he was referring to LSU paying the buyout.
wha?
Posted on 1/4/11 at 9:20 am to Cash
Assumed he was referring to the $15M or whatever it is now
Posted on 1/4/11 at 9:26 am to jlc05
It would be extremely silly for LSU to want Miles gone. We have a perfect storm brewing for next years championship run. Why ruin it?
Posted on 1/4/11 at 9:33 am to jlc05
quote:
Assumed he was referring to the $15M or whatever it is now
Why would LSU pay this if Miles left?
Posted on 1/4/11 at 9:35 am to jlc05
You guys are confusing two different issues.
If LSU fires Miles, for any reason other than a major screwup (big NCAA penalties, criminal charges, etc.), we owe him the remaining salary on his contract, payable over twice the length of the contract. So if LSU fired him with 2 years left on the deal, he'd be owed about $7.6 million, payable in installments over the next 4 years. That's essentially a set of damages LSU and Miles have agreed to, if LSU breaks the contract by firing Miles. It is NOT a buyout.
Buyouts are penalties against coaches, if they decide to break the contract by leaving. For example, TCU's Pat Sullivan had a buyout of a few $100k back in 1994 that he would have had to pay TCU, had he left for the LSU job. He couldn't pay it, and Joe Dean wouldn't pay it. So we hired Dinardo instead.
If Miles decides to leave LSU on his own, his contract states that he doesn't owe LSU any money at all for a buyout. The lone exception to this is the university of Michigan. If Miles leaves for Michigan, He owes LSU $1.25 million (I believe). Whether Alleva would waive this is up to LSU. But the $1.25 million Miles would owe LSU upon accepting the Michigan job has absolutely nothing to do with the money LSU would owe Miles, if LSU were to fire him.
If LSU fires Miles, for any reason other than a major screwup (big NCAA penalties, criminal charges, etc.), we owe him the remaining salary on his contract, payable over twice the length of the contract. So if LSU fired him with 2 years left on the deal, he'd be owed about $7.6 million, payable in installments over the next 4 years. That's essentially a set of damages LSU and Miles have agreed to, if LSU breaks the contract by firing Miles. It is NOT a buyout.
Buyouts are penalties against coaches, if they decide to break the contract by leaving. For example, TCU's Pat Sullivan had a buyout of a few $100k back in 1994 that he would have had to pay TCU, had he left for the LSU job. He couldn't pay it, and Joe Dean wouldn't pay it. So we hired Dinardo instead.
If Miles decides to leave LSU on his own, his contract states that he doesn't owe LSU any money at all for a buyout. The lone exception to this is the university of Michigan. If Miles leaves for Michigan, He owes LSU $1.25 million (I believe). Whether Alleva would waive this is up to LSU. But the $1.25 million Miles would owe LSU upon accepting the Michigan job has absolutely nothing to do with the money LSU would owe Miles, if LSU were to fire him.
Posted on 1/4/11 at 9:37 am to Chicken
quote:
I find it interesting that Miles often not mentioned in reports like this...
Miles' choice of OC has scared the shite out of Michigan.
Posted on 1/4/11 at 9:42 am to Cash
quote:
Posted by Cash
quote:
Assumed he was referring to the $15M or whatever it is now
Why would LSU pay this if Miles left?
LSU wouldnt. Les pays as the poster above stated...i.e. a way for LSU to rid itself of Miles w/o shelling out the 15 mil
Posted on 1/4/11 at 9:48 am to jlc05
I like Miles and hope he finishes his career at LSU, I personally think the lack of interest is his age he's 57 with 4 Kids. I personally don't think hes going to coach more than 10 more years and most big schools want coaches that are up and coming and will be around 20 or 30 years if they can keep them that long, especially if their successful.
Posted on 1/4/11 at 9:50 am to GALSUtiger
Different era...win now.
Posted on 1/4/11 at 9:56 am to GALSUtiger
quote:
most big schools want coaches that are up and coming and will be around 20 or 30 years
30 years? you got to be kidding me. The age of Paternos and Bowdens is long gone.
Posted on 1/4/11 at 10:02 am to jlc05
quote:
LSU wouldnt. Les pays as the poster above stated...i.e. a way for LSU to rid itself of Miles w/o shelling out the 15 mil
I know. Your previous post were confusing as shite and I couldn't find a point in there anywhere.
Posted on 1/4/11 at 10:03 am to GALSUtiger
quote:
most big schools want coaches that are up and coming and will be around 20 or 30 years
Posted on 1/4/11 at 10:11 am to Cash
Read the thread?
Posted on 1/4/11 at 10:52 am to jlc05
quote:
I think the buyout for Miles is too much to overcome making Hoke the easy second choice.
GeorgeTheGreek
quote:
I think the buyout for Miles is too much to overcome making Hoke the easy second choice.
Miles has a special clause in his contract that would allow him to go to UM..
No buyout at all
ApexTiger
quote:.
Miles has a special clause in his contract that would allow him to go to UM..
No buyout at all
You could'nt be more wrong...He has a special clause that penalizes him if he goes to Michigan.
supadave3
quote:
You could'nt be more wrong...He has a special clause that penalizes him if he goes to Michigan..
I think he was referring to LSU paying the buyout.
jlc05
George is saying that the amount Michigan would have to pay LSU to get Les out of his LSU contract is too high. However it appears you saying that George the Greek is referring to LSU paying a buyout?
Regardless, LSU wants out of Les's contract because it is one sided. If that means letting him go to Michigan, it wouldn't be the worst thing in the world to waive the buyout.
Posted on 1/4/11 at 10:56 am to Cash
My bad if thst was the point being made. I didnt think the buyout for Les would be a showstopper for Mich so misinterpreted his point. I thought he was mistakingly referring to the 15 mil. FWIW, that buyout would be peanuts for Mich.
This post was edited on 1/4/11 at 10:58 am
Posted on 1/4/11 at 10:57 am to jlc05
quote:
FWIW, that buyout would be peanuts for Mich.
no doubt
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