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Message
re: Tim Brando and Miles' Buyout
Posted on 10/8/10 at 3:39 pm to jlc05
Posted on 10/8/10 at 3:39 pm to jlc05
Somewhat. Lombardi signed Miles to a 7 year contract. How it was written was 5 years(max for state employee) with 2 automatic/guaranteed roll overs. After this season there will be 3 years served with 4 to go. The contract essentially wasn't rolled over the last two years except for automatic. If so there would be 7 years left currently.
4 x $3.751 = $15M
4 x $3.751 = $15M
1
Posted on 10/8/10 at 3:40 pm to WMTigerFAN
Assistant coaches rarely, if ever, have a buyout. Most generally only have 1 year contracts that are renewed after the season. I can't imagine that Crowton has any buyout.
Posted on 10/8/10 at 3:41 pm to WacoTiger
quote:
Assistant coaches rarely, if ever, have a buyout. Most generally only have 1 year contracts that are renewed after the season. I can't imagine that Crowton has any buyout.
Crowton had a multiyear deal, which is why he wasn't fired last year. They didn't want to pay for him this year and hire a new OC.
Posted on 10/8/10 at 3:42 pm to WacoTiger
Crowton does have a buyout and his contract is guranteed just like Les. He was going to be let go on Monday but Lomgardi nixed it saying no buyouts. Thats why you heard of a press conference and it vanished into thin air
Posted on 10/8/10 at 3:42 pm to JohnnyU
quote:
So you blame Obama for the shite sandwich that Bush for us all to eat?
Please keep the politic crap where it belongs!
That was sarcasm jack arse
Posted on 10/8/10 at 3:43 pm to Elleshoe
quote:
his contract was extended through 2012 before the Ohio State game. it was not rolled over after 2008 or 2009 so the end date on it is still 2012.
The only thing that is clear is that nobody knows. You are making a definitive statement with no true knowledge of the situation.
Posted on 10/8/10 at 3:47 pm to ashy larry
quote:
the word "presumptively" gives the chancellor the ability to deny it.
...And if he doesn't explicitly deny it?
Posted on 10/8/10 at 3:48 pm to moneyg
quote:
the word "presumptively" gives the chancellor the ability to deny it.
That is not a correct legal statement.
Posted on 10/8/10 at 3:52 pm to bmy
quote:
also, the contract termination clause was changed. If LSU fires Miles without cause, the coach could be owed as much as $15 million, up from $10 million.
Posted on 10/8/10 at 3:57 pm to GIR
quote:
Somewhat. Lombardi signed Miles to a 7 year contract. How it was written was 5 years(max for state employee) with 2 automatic/guaranteed roll overs. After this season there will be 3 years served with 4 to go. The contract essentially wasn't rolled over the last two years except for automatic. If so there would be 7 years left currently.
4 x $3.751 = $15M
*THIS*
Lombardi did the contract, and hasn't been rolled in two years. If Miles goes 9-3 he stays. He goes 8-4 with a blowout loss to Florida and/or Bama then he and Crowton ride same train out of BR. Buyout is $15M paid over 8 years so just under $1.9M per year cost. If he gets another job, LSU pays the difference from his then salary and the buyout amount.
Posted on 10/8/10 at 4:02 pm to nrsaint
quote:
ombardi did the contract, and hasn't been rolled in two years
quote:
Buyout is $15M paid over 8 years
Does not compute. If he signed a 5 year deal in 2007, it would expire in 2012, with options for 2013 and 2014. If LSU has declined those options the last 2 years, then this year is 3 of 5 on the deal. 2 years left at 3.751 = 7.5. If the buyout is greater than 7.5, than either he has in fact been extended, or there's more to the buyout than just his yearly salary.
Posted on 10/8/10 at 4:04 pm to OldManRiver
LSU didn't deny those extension. The Chancellor extended the contract based upon the written language of the contract - in effect, it was an automatic extension of 1 year in 2008 and 1 year in 2009 that did not require the Board's approval since they granted the authority to extend the contact to the Chancellor in their prior approval of the contract.
Posted on 10/8/10 at 4:08 pm to salford227
I thought we had a new QB coach?
Posted on 10/8/10 at 4:09 pm to WacoTiger
quote:
LSU didn't deny those extension
You may be right. However, anybody who's kept up with this has heard tons of differing opinions on the subject. And then when a guy with belowpar's credibility pipes up and says the buyout is 11.3, it really throws doubt to what's going on.
It's all probably a moot point anyway since there's such a low chance of him getting canned this year anyway.
Posted on 10/8/10 at 4:10 pm to WacoTiger
quote:
LSU didn't deny those extension. The Chancellor extended the contract based upon the written language of the contract - in effect, it was an automatic extension of 1 year in 2008 and 1 year in 2009 that did not require the Board's approval since they granted the authority to extend the contact to the Chancellor in their prior approval of the contract.
I feel like my head is about to explode. Anybody and everybody involved in drawing up that ridiculous contract needs to be fired immediately!
Posted on 10/8/10 at 4:12 pm to SouthernMan
quote:
I think it is through 2014
2012.
They didn't roll it over.
At the end of the season is buyout is 8 million.
He isn't going anywhere.
Posted on 10/8/10 at 4:19 pm to Antonio Moss
quote:
WacoTiger
quote:
SouthernMan
Well one of you is right and one is wrong
Posted on 10/8/10 at 4:24 pm to OldManRiver
Assuming BelowPar's information is correct, and I have no reason to doubt that it isn't, then Miles contract was denied roll-over once (my guess it was in 2008 since he actually only had 7 wins against FBS teams). The chancellor can easily justify it that way, plus the fact that 8 wins in the regular season may also be required.
In any case, $11.3M would mean 3 years left, or in other words through 2013.
3 x 3.751M = $11.253M
LSU is basically in a bind unless Les manages to go 7-6 or worse for two years in a row if the money is going to be an issue. At some point they will have to bite the bullet and eat it if he is to be fired.
My best guess is if LSU goes 8-4 or worse in the regular season this year, he won't be renewed (since 1 win will be against McNeese St, which is FCS) and then after next season he'll be fired if he is.
He won't be fired this year unless the team goes 6-6 and/or LSU gets hit with some type of probation based on the McCarthy stuff and Miles can be held accountable and fired with cause.
In any case, $11.3M would mean 3 years left, or in other words through 2013.
3 x 3.751M = $11.253M
LSU is basically in a bind unless Les manages to go 7-6 or worse for two years in a row if the money is going to be an issue. At some point they will have to bite the bullet and eat it if he is to be fired.
My best guess is if LSU goes 8-4 or worse in the regular season this year, he won't be renewed (since 1 win will be against McNeese St, which is FCS) and then after next season he'll be fired if he is.
He won't be fired this year unless the team goes 6-6 and/or LSU gets hit with some type of probation based on the McCarthy stuff and Miles can be held accountable and fired with cause.
This post was edited on 10/8/10 at 4:27 pm
Posted on 10/8/10 at 4:25 pm to OldManRiver
How in the hell can the contract for the highest paid state employee be such a mystery?
Posted on 10/8/10 at 4:26 pm to OldManRiver
quote:
WacoTiger
quote:
SouthernMan
Well one of you is right and one is wrong
No, we both agree that his contract is through 2014.
Several people keep offering their opinion but Waco has explained it and offered the actual contract wording but no one seems to want to listen.
LSU is on the hook until 2014. PERIOD.
$15M to buy him out, he isn't going ANYWHERE!!
It makes me happy!
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