Why can't aTm fire Jimbo?

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Why can't aTm fire Jimbo?

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For simplicity’s sake, let’s say Fisher is fired on Dec. 31 of this year. That means he will have $85,950,000 remaining on his contract. By February, he could expect to receive a lump sum of $21,487,500. Then, over the next nine years, an annual payment of $7,162,500, beginning sometime around July 2023.

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Last I heard it was $86M - still a lot of money - but does it have to be paid all at once upon termination, or can it be arbitrated over several years? I'm not sure if that level of detail of his contract is public, but it is a public university...

I'm thinking someone here may know more about the details.

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Unless the extension changed terms other than simply increasing the length of the contract and annual salary, it appears he would be owed 25% of the remaining money within 60 days of the date of termination, with the remaining balance being paid in equal annual payment through the termination date of the contract (2031)

2018 Contract

Let's assume the remaining sum would be $86M. If the terms of the contract linked are still in place, he would be owed $21.5M in 60 days, with him being paid ~$7.1M a year through 2031 (again, presuming the terms of the original contract still apply). In practice, what would likely happen is Jimbo would negotiate a lump sum payment lower than the remaining $64M. Meaning, he would take, say, $50M today rather than wait 9 years to be paid the full $65M

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Despite what they tell you, they are to poor to pay that buyout.

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