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re: What's taking Michigan so long?
Posted on 12/1/14 at 4:27 pm to heartbreakTiger
Posted on 12/1/14 at 4:27 pm to heartbreakTiger
You are confusing what LSU owes Miles if he is fired (liquidated damages) with what Miles owes LSU if he leaves on his own (the "buyout").
Miles has 4 years left on his deal IIRC. According to the last one USAToday had on their site, if fired LSU would owe Les his remaining salary, paid in monthly installments, over twice the remaining years. So if fired tomorrow Les would be owed liquidated damages of $44,791.67 per month for the next 8 years, with a deduction for any money he made coaching, commentating, etc. If fired a year from today it's over the next 6 years, etc.
And before you freak out about those numbers, such clauses are found in almost literally every college HC's contract, with the difference only in how it's paid. Without such a clause you couldn't get Bradley Dale Peveto to be your HC. In fact, Miles' are actually pretty good for LSU - Rich Rod, for example, was due all of his liquidated damages 60 days after he was fired. In a lump sum.
It is completely, totally different if Miles leaves on his own. Then LSU owes him nothing, and in fact you look to see if there are liquidated damages owed by HIM to LSU for the "damage" caused by leaving LSU in the lurch. Miles has such a "buyout," as of the last contract USAToday put on their website. It ONLY applies if he goes to Michigan, and it's only $1 million. And like any contract provision on Earth, it can absolutely be waived if need be.
Miles has 4 years left on his deal IIRC. According to the last one USAToday had on their site, if fired LSU would owe Les his remaining salary, paid in monthly installments, over twice the remaining years. So if fired tomorrow Les would be owed liquidated damages of $44,791.67 per month for the next 8 years, with a deduction for any money he made coaching, commentating, etc. If fired a year from today it's over the next 6 years, etc.
And before you freak out about those numbers, such clauses are found in almost literally every college HC's contract, with the difference only in how it's paid. Without such a clause you couldn't get Bradley Dale Peveto to be your HC. In fact, Miles' are actually pretty good for LSU - Rich Rod, for example, was due all of his liquidated damages 60 days after he was fired. In a lump sum.
It is completely, totally different if Miles leaves on his own. Then LSU owes him nothing, and in fact you look to see if there are liquidated damages owed by HIM to LSU for the "damage" caused by leaving LSU in the lurch. Miles has such a "buyout," as of the last contract USAToday put on their website. It ONLY applies if he goes to Michigan, and it's only $1 million. And like any contract provision on Earth, it can absolutely be waived if need be.
Posted on 12/1/14 at 4:49 pm to Martin Blank
quote:
Miles has 4 years left on his deal IIRC.
I believe it's 5 years. The current deal runs thru 2019 if I'm not mistaken.
This post was edited on 12/1/14 at 4:55 pm
Posted on 12/1/14 at 5:09 pm to Martin Blank
quote:
Miles has 4 years left on his deal IIRC.
Muahahahaha [lightening strikes in the background]
- Jeff Long
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