re: Miles to Penn State??

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(ii) he's not under an obligation to take a job he really doesn't want (or he hinks isn't a good fit) even if it might pay more than the one he does want.

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oh for sure

i think the market sorts itself out here. coaches are highly competitive alpha types so they don't typically just pack it in. i don't think les would do that, either. i think he still has juice in the tank and will want to prove himself

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(i) he doesn't have to hit the top or even the middle of the range if he's happy to fill in the difference with the net LSU payout,

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i think it just matters, as you said, on the level of job he takes

if he goes to PSU he's going to have to get paid pretty well. they're paying Franklin over $4M (per a google search i just did). i doubt les could sell LSU on taking THAT much less than what they just paid Franklin (certainly more than $100k). i'd imagine $3M would be the floor for a major BCS program like PSU

now if he goes to a Houston or even a Kentucky? it's going to be a bit lower