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Question on Mack Browns buyout
Posted on 12/12/13 at 8:38 am
Posted on 12/12/13 at 8:38 am
I know he was saying he doesn't want to step down but Texas appears to be forcing him out. I also know he has a pretty sizable buyout. If he is forced to resign does he still get the money? Is that why he is waiting to get fired?
Posted on 12/12/13 at 8:39 am to tween the hedges
$2.75MM if fired/quits.
$5.5MM (appx) if he stays, hence he wants to keep working.
$5.5MM (appx) if he stays, hence he wants to keep working.
Posted on 12/12/13 at 8:42 am to tween the hedges
You expect someone to answer this without reading the contract?
Posted on 12/12/13 at 8:48 am to tween the hedges
IMO, he will get a better deal if he resigns, but he doesn't want to. I think he will accept it, but not until he's convinced he has no play at all.
Posted on 12/12/13 at 9:04 am to tween the hedges
I wouldn't say he is "waiting to get fired" but he is probably trying to negotiate something. I would put it akin to the Tuberville situation at AU. It ended up being a mutual parting of ways (he at least got to say he resigned) but the school still gave him a nice exit package.
Probably what Mack is doing. They are giving him the chance to step aside somewhat gracefully, he is looking to get a nice severance package from them. If they try to low ball him, he digs in and makes them think he will fight it and try to get the full buyout. Texas doesn't want to pony up that kind of cash, so they will keep upping their offer until they reach a settlement point and then he can "resign/step down".
Probably what Mack is doing. They are giving him the chance to step aside somewhat gracefully, he is looking to get a nice severance package from them. If they try to low ball him, he digs in and makes them think he will fight it and try to get the full buyout. Texas doesn't want to pony up that kind of cash, so they will keep upping their offer until they reach a settlement point and then he can "resign/step down".
Posted on 12/12/13 at 9:13 am to tritiger
quote:IF the same boosters are willing to assume $40 million in debt for Saban I can't imagine them not covering the "full" amount of Brown's contract if he "resigns".
2.75MM if fired/quits. $5.5MM (appx) if he stays, hence he wants to keep working.
Posted on 12/12/13 at 9:23 am to tween the hedges
I would say that I am 100% sure Mack is getting forced out but that would discount Mack's wishy-washiness. And what I mean by that is for the last couple years, the man has vacillated between wanting to retire and "being reenergized" to keep coaching almost on a daily basis. But he's out.
His contractual buyout before 12/31/2014 is 2.75 mil. it doesn't matter if he's fired or resigns, he's going to get this and more...the "more" part maybe hinging on his willingness to play ball with the rest of the plans. And it's likely to be a substantial "more" - that's what most of the delay this week has been about, sorting that out before he announces. A lot of people will be watching the 10am presser with interest, I don't think it's 100% he announces but he very well may.
His contractual buyout before 12/31/2014 is 2.75 mil. it doesn't matter if he's fired or resigns, he's going to get this and more...the "more" part maybe hinging on his willingness to play ball with the rest of the plans. And it's likely to be a substantial "more" - that's what most of the delay this week has been about, sorting that out before he announces. A lot of people will be watching the 10am presser with interest, I don't think it's 100% he announces but he very well may.
Posted on 12/12/13 at 9:30 am to OrangeBlood
what leverage does mack have? AD just has to say mack your out and texas owes him 2.75M buyout. Mack doesn't like it since he makes 5.5M per year coaching but not much he can do since his agent didn't get a better buyout deal, see iowa.
This post was edited on 12/12/13 at 9:32 am
Posted on 12/12/13 at 9:36 am to tween the hedges
Mack I don't think is too concerned about money. his wife makes more in a year than him and Saban combined. its about his legacy and his want to keep coaching.
it sucks the way it is going down but that's life.
to answer your question, the buyout ie getting rid of Mack is the least of UT's worries
it sucks the way it is going down but that's life.
to answer your question, the buyout ie getting rid of Mack is the least of UT's worries
Posted on 12/12/13 at 9:36 am to jb4
quote:
what leverage does mack have? AD just has to say mack your out and texas owes him 2.75M buyout. Mack doesn't like it since he makes 5.5M per year coaching but not much he can do since his agent didn't get a better buyout deal, see iowa.
Texas isn't Iowa - trust me, I wish Texas operated that way. I wish it was as easy as Steve Patterson telling Mack, you're fired, here's your buyout. But it's not - if you're an older Hog fan you probably have seen this play out before.
The thought process is that - especially in Mack's case - a "happy" Mack will bring in more donor money in the coming years than a "sad" Mack and the extra payment is worth it. Also it's paying for a problem to go away.
It doesn't make sense. trust me, I know.
Posted on 12/12/13 at 9:45 am to lsuroadie
quote:do explain
his wife makes more in a year than him and Saban combined.
Posted on 12/12/13 at 9:46 am to lsuroadie
quote:Family money?
Mack I don't think is too concerned about money. his wife makes more in a year than him and Saban combined.
Posted on 12/12/13 at 9:50 am to Politiceaux
quote:said makes more not has more...
Mack I don't think is too concerned about money. his wife makes more in a year than him and Saban combined.
Family money?
Posted on 12/12/13 at 10:55 am to LSUTIGER in TEXAS
quote:Mack's wife is a real estate mogul, in NC and Austin. She brings in 5-15mm a year...reportedly.
do explain
they are not worried about where their next meal is coming from.
Posted on 12/12/13 at 11:03 am to lsuroadie
quote:
Mack's wife is a real estate mogul, in NC and Austin. She brings in 5-15mm a year...reportedly.
Where can I get me one of those
Posted on 12/12/13 at 11:04 am to tween the hedges
His buyout is actually really small either way considering how big his contract is.
Posted on 12/12/13 at 11:05 am to tween the hedges
It's quite the chodely buyout, actually. Especially for one of the winningest coaches in their school's history. They were an Arkansas-level brand before MackIII got there and Disney'd up the place.
Posted on 12/12/13 at 11:24 am to tween the hedges
No, he won't resign simply because he wants to keep coaching. And he has a couple of heavyweights in his corner. If Powers gets ousted expect it to happen fast though.
The buyout is pretty meaningless to both sides. They'll want him to be part of their program and give him a services contract. Supposedly he's been offered the buyout plus $1.25m annually through 2020 to resign. His response:
The buyout is pretty meaningless to both sides. They'll want him to be part of their program and give him a services contract. Supposedly he's been offered the buyout plus $1.25m annually through 2020 to resign. His response:
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