- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Tim Brando and Miles' Buyout
Posted on 10/8/10 at 2:53 pm to Elleshoe
Posted on 10/8/10 at 2:53 pm to Elleshoe
This board has been over this issue before ad nauseum.
This is the deal:
He has 3 yrs left on the deal INCLUDING this yr. If he was let go at year's end LSU would owe him two years worth of salary. LSU would have double the remaining contract length in which to pay him. So we have 4 yrs to pay his 2.
Miles has to in good faith seek out employment upon termination. Once employment is gained, LSU only must pay the difference in salary between the jobs.
I did not hear about this O'Keefe business, and I pray it isn't true.
The buyout is no where near 13-15 mil. In fact, rounding up to 4 mil/yr (8 mil total) it would cost LSU about 167000 per month for four yrs if miles did not get a job.
I am unsure if it stipulates he is to receive some up front sum, but I don't think he does.
It is not too costly to buy him out at year's end.
This is the deal:
He has 3 yrs left on the deal INCLUDING this yr. If he was let go at year's end LSU would owe him two years worth of salary. LSU would have double the remaining contract length in which to pay him. So we have 4 yrs to pay his 2.
Miles has to in good faith seek out employment upon termination. Once employment is gained, LSU only must pay the difference in salary between the jobs.
I did not hear about this O'Keefe business, and I pray it isn't true.
The buyout is no where near 13-15 mil. In fact, rounding up to 4 mil/yr (8 mil total) it would cost LSU about 167000 per month for four yrs if miles did not get a job.
I am unsure if it stipulates he is to receive some up front sum, but I don't think he does.
It is not too costly to buy him out at year's end.
Posted on 10/8/10 at 3:02 pm to 0jersey
Fitting that a man that came to LSU from a government agency (NASA) was the one who structured such a ridiculous contract (length of contract and standard for a successful season - 8 years).
Popular
Back to top
Follow TigerDroppings for LSU Football News