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re: Does CEO really have a 12 million buyout?
Posted on 9/18/17 at 8:09 pm to jdeval1
Posted on 9/18/17 at 8:09 pm to jdeval1
quote:
So you think O would have turned the job down without the buyout? To do what? Go be the D line coach at Cal?
I doubt the settled buyout amount was part of the initial offer.
Have you ever been a part of a job negotiation?
This post was edited on 9/18/17 at 8:10 pm
2
Posted on 9/18/17 at 8:11 pm to OceanMan
I doubt that box car willie could botch things up worse than Joe Alleva has.
Posted on 9/18/17 at 8:12 pm to Alatgr
quote:
How the frick does a 3 yr, $3.5m a year contract equate to a $12m buyout? We would pay him more if we fired him than if he actually coached all three years? Am I mistaken about his salary or what am I missing?
Yeah, I'm not arguing that the buyout doesn't seem really high, because it does, but I haven't done any actual research in the buyout amount. Just taking what I see here at face value.
I guess what you can read into it is that O wouldn't agree to anything less than 3 years without LSU having a good bit of skin in the game.
This post was edited on 9/18/17 at 8:14 pm
Posted on 9/18/17 at 8:12 pm to RxHunter
quote:
FKing needs to go at same time as Alleva
'You're fired'...... '100 per cent.......you are going to get tied of winning after they are gone'
Posted on 9/18/17 at 8:13 pm to memphis tiger
quote:
Orgeron's two-way buyout with the program is $12 million this year and drops every subsequent year of the contract. It slips to $8.5 million in 2018, $6 million in 2019, $4.5 million in 2020 and just $1 million for the final year.
The Advocate
Posted on 9/18/17 at 8:14 pm to JustSmokin
8.5 buyout after 2 years is manageable
Posted on 9/18/17 at 8:17 pm to memphis tiger
Typical for fricked up Louisiana
Posted on 9/18/17 at 8:17 pm to tconle2
We have to pay out his remaining contract if we terminate him (CEO). If we fired him on Dec 1, 2017, we'd owe him $12 mil paid over 5 years. On Dec 1, 2018, we'd owe him $8.25 mil paid over 5 years. On Dec 1, 2019, we'd owe him $4.5 mil paid over 5 years.
Assuming CEO does not break the law or his contract, there is no way he will be terminated by LSU before December, 2019. LSUAD does not want to be paying off BOTH Les Miles and CEO for very long. It was dumber than dumb to include such a ridiculous payoff for CEO considering no bigtime program in America wanted or wants him as HC.
Assuming CEO does not break the law or his contract, there is no way he will be terminated by LSU before December, 2019. LSUAD does not want to be paying off BOTH Les Miles and CEO for very long. It was dumber than dumb to include such a ridiculous payoff for CEO considering no bigtime program in America wanted or wants him as HC.
Posted on 9/18/17 at 8:18 pm to GeorgeWest
Five years? Are you shitting me?
Posted on 9/18/17 at 8:19 pm to OceanMan
quote:
Have you ever been a part of a job negotiation?
Yes and LSU had all of the leverage in that negotiation and didn't use it. We had a candidate that had no comparable offers. If I'm giving you a shot at a job that you are under qualified or at best minimally qualified for I'm not letting you dictate the terms of employment
Posted on 9/18/17 at 8:22 pm to memphis tiger
Don't believe this. Didn't he say in a press conference even if he had only one year here, he would stay as an assistant coach? Surely, I didn't just dream that?
Posted on 9/18/17 at 8:25 pm to larry289
So coach zero has the best agent ever? Or we have the worst administration ever. I'm going with door number two..
Posted on 9/18/17 at 8:25 pm to memphis tiger
You all keep calling it a buyout - but it's more like a guaranteed salary. The buyout decreases throughout the 5-year contract. After this year, it's supposedly $12M which is $2M less than 4 years (remaining) x $3.5M/yr. Don't know if they have a mathematical formula or just chose a random number after each season served.
Posted on 9/18/17 at 8:28 pm to ZULU
It is amazing to me that these mofos make this kind of money, coaching admin. Whatever is it reall yt?g worth it I'm going back to watching high school football. It is what is.
Posted on 9/18/17 at 8:34 pm to Chad504boy
quote:Which is why crying about the contract is dumb. They knew they would not fire him in year 1.
8.5 buyout after 2 years is manageable
Posted on 9/18/17 at 8:35 pm to jdeval1
quote:
Yes and LSU had all of the leverage in that negotiation and didn't use it.
except we didn't, obviously, because he was our ultimate choice
quote:
If I'm giving you a shot at a job that you are under qualified or at best minimally qualified for I'm not letting you dictate the terms of employment
Ok, but you can't control all the terms. O conceded salary for job security. If that $3.35M is correct, that would put him at less that Mike Stoops at UK, and lowest paid in the division. In order to get someone that low, you have to make concessions on terms. That's just a fact about negotiating.
quote:
We had a candidate that had no comparable offers.
I'm not sure how this is relevant. Would your rate of pay to an employee depend on if he has another offer? LSU was the one making a hire. If they couldn't agree to terms, then they would have had to open up the search to (at least) a fourth choice, and likely be dismantling the staff that was in place.
Posted on 9/18/17 at 8:39 pm to TNTigerman
quote:
You all keep calling it a buyout - but it's more like a guaranteed salary. The buyout decreases throughout the 5-year contract. After this year, it's supposedly $12M which is $2M less than 4 years (remaining) x $3.5M/yr. Don't know if they have a mathematical formula or just chose a random number after each season served.
This is a good way of thinking about it. The buyout is just part of the total comp package and pretty much guarantees him about 3 years salary. As per my post above he also has a really low rate of pay relative to the immediate job market (SEC west). So the buyout is just shifting risk
Posted on 9/18/17 at 8:44 pm to memphis tiger
I do not understand how you negotiate that kind of buyout for:
1) a guy who's dream job is to coach here, and
2) there was no demand for his head coaching services elsewhere.
Alleva had all the leverage and got his arse handed to him.
1) a guy who's dream job is to coach here, and
2) there was no demand for his head coaching services elsewhere.
Alleva had all the leverage and got his arse handed to him.
Posted on 9/18/17 at 8:47 pm to ZULU
quote:
Five years? Are you shitting me?
NOPE
we were originally told 3 years with no buyout
ALLEVA RAPED US!
Posted on 9/18/17 at 8:50 pm to AlxTgr
3.5 mill a year for 3 years with no buyout is PLENTY FOR A UNPROVEN HC!
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