CCB Contract Specialists/Lawyers - what could LK have signed? (if true)

AKA - Nerd thread

If the rumor is true, what he would have signed yesterday isn’t the full employment contract those take weeks or months to finalize because lawyers from both sides have to draft the long-form deal. What usually gets signed early is an MOU or a term sheet, which basically locks in the key numbers (years, salary, buyout, incentives). An MOU can be binding depending on how it’s written, and schools use them all the time so a coach can agree to terms while still coaching his current team. There’s nothing stopping him from coaching the Egg Bowl and signing an agreement the same day it happens every year during coaching carousel season. The only reason the news hasn’t run with it is because they need verifiable proof. If he signed something yesterday and they’re trying to keep it quiet until the time is right, it makes sense people around the program would hear it but the media wouldn’t report it yet. Supposedly the press release is still set for Friday at 3:00 PM if everything holds together. Again, believe it or don’t I was just passing along what I was told:
?? He signed the agreement yesterday
?? 13.5M per year
?? Press release planned for 3:00 PM Friday

Source: TAF Employee

Also Look, LSU TAF doesn’t draft the coach’s contract that’s done by LSU’s legal department and the Board of Supervisors. BUT people in TAF do see the financial framework because they’re the ones who have to confirm the funding, the private contributions, and the donor commitments long before anything becomes public. TAF handles the money behind the scenes the boosters, the pool for salary, the private side of the compensation package. They’re in the room when the numbers are built. That’s why my source would know: they’re connected to the financial side, not the legal side. And no, the full long-form contract isn’t done yet those take weeks or months. What gets signed early is an MOU (basically the agreed-upon terms). Coaches sign MOUs every year before their season is even over. He can coach the Egg Bowl and sign an agreement the same day. It happens constantly during the coaching carousel. Media hasn’t reported anything because they don’t run with rumors unless they see the physical document or get direct confirmation. Without proof, reporters can’t touch it. But the people inside the program can know before the media does that’s how it always works.

His OM contracts prohibits him from contracting with another school while he’s employed by OM. It would be cause to terminate him immediately and he would forfeit his buyout (which has no offset clause) if he did so. It is unlikely that he signed anything that would negate his leverage to keep coaching OM.

If he did sign anything, it would be a memorandum of understanding or a term sheet. High level terms like $$, years, and roster pool with the fine print going into a subsequent legalese contract negotiated out later once the dust settles a bit.

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He can’t sign a formal contract with LSU while also being under contract with OM. He could sign an MOU but that’s not worth the paper it’s printed on.

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Believe it or not this has happened before with LSU HC search. In 1994 Pat Sullivan agreed to take the job after Curley was fired. An announcement was made but after several days of negotiations LSU decided it wouldn’t pay the 400K buyout to TCU. Dinardo took the job instead. Sullivan went back to TCU and resigned 2 years later.

I agree that it wouldn’t take that long to draft a contract. It shouldn’t take more than a few days if the parties are in agreement on the terms.

I’m not sure about adding steep damages to a letter of intent or memorandum of understanding. By their very nature, letters of intent and MOU’s are generally non binding. Adding damage clauses to the mou gives the deal some measure of enforceability. I doubt Kiffin would sign that, its not really an MOU at that point.
But yes, I guess, one could write a sort of MOU that includes damages. Signing that might violate Kiffins contract with Ole Miss.

If we are to believe all the insiders on the rant that there is some deal in place. That’s probably an MOU. While not binding, in the real world most deals with a signed mou will eventually get done. I would feel better if LSU actually has an MOU. But given Kiffins history with Tennessee and Sexton’s history of shenanigans, it wouldnt be a done deal to me until its inked and signed.

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I keep seeing people saying that but it’s not entirely correct. Depending on the terms and language, obligations undertaken under an MOU absolutely can be enforceable.

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This is correct.

An MOU, depending on how it’s drafted, can still provide for liquidated damages if someone backs out.

Simple answer…. Nothing without OM being ok with it. He is under contract with them and I’m sure the last thing the Kiffin / Sexton team wants is a breach of contract.

Also, don’t think it takes months on a new contact. 80% is boiler plate. Longest part with be the BOS approving.

If a MOU contains performance language or mutual obligations such things can be enforceable. A MOU can be viewed as a binding document in principle. See Texas v. Pennzoil.

Such a situation could be viewed as a breach of contract by Kiffin against Ole Miss which could probably terminate its contract with him immediately.