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2
Posted on 10/1/17 at 11:24 pm to Tiger Phil
In case anyone in the Athletic department is reading this... You can fire him today for the low low price of $9,375,000 and its getting cheaper every day.
Posted on 10/1/17 at 11:24 pm to OvertheDwayneBowe
quote:
So we will owe him $12 million overall whether we fire him this year, next year, or the following.
No that's not what it says at all.
We don't even owe him $12MM if we fired him tomorrow. We would owe him $9.375MM right now!!
Posted on 10/1/17 at 11:26 pm to OvertheDwayneBowe
quote:
So we will owe him $12 million overall whether we fire him this year, next year, or the following.
No.
Posted on 10/1/17 at 11:27 pm to notbilly
Huh. Interesting find. Thanks for digging that out. The article that I read was outright wrong in how it characterized it. If fired right now the buyout is $12m, but that goes down in the next calendar year. $8.5m does still suck though.
Edit: nvm. I read the details more. It's even less. It's the max less wages paid in the current year. Ok.
Edit: nvm. I read the details more. It's even less. It's the max less wages paid in the current year. Ok.
This post was edited on 10/1/17 at 11:33 pm
Posted on 10/1/17 at 11:30 pm to notbilly
So basically it's 12 million - what we've paid him to date?
Posted on 10/1/17 at 11:31 pm to notbilly
quote:
It would be a million dollars cheaper to fire him in 12/31/2018 than to fire him the following day.
I noticed that as well. Honestly this, without a shadow of a doubt, leads me to believe that O isn't getting past next November if he does in fact stay.
Say he shits it up next season, his buyout will only be $5,291,667 as mentioned on 12/1/18.
That is very interesting. Saving from $750,000 to $1 million by firing next season between 12/1/18 and 12/31/18 as opposed to 1/1/19 when it will be $6 million. That is light years better than getting this dude a 3rd year.
All of a sudden my excitement levels just went up again. That is not half bad. The sooner this happens, the better it is to start the rebuild. If O is canned on December 1st this year, his buyout will be $8,791,667. Much better than $12 million. I have no doubts we would pull the plug on that shite quick.
This post was edited on 10/1/17 at 11:58 pm
Posted on 10/1/17 at 11:33 pm to Tiger Phil
quote:I'm in.
The payout is prorated based on the salary received to date. So it is $8.5MM in January 2018.
Let's say we fire him on December 1, 2017.
quote:Holy cow this is actually doable, and really doable if Les gets a decent job.
He will have been paid 11 months of $3.5MM, so that is $3.209MM, we would owe him a buyout of $8.79MM.
The first payment of $2MM is due 60 days after termination, so February 1, 2018. The rest of it is payable over the length of the contract. The contract runs through December 2021, so we would owe him roughly $1.7MM per year except the first year, in which we owe him $3.7MM.
I love you, Tiger Phil. But, you already knew that.
Next question: what's Alleva's buyout? He has to go at the same time.
Posted on 10/1/17 at 11:34 pm to Tiger Phil
quote:
Found it. The payout is prorated based on the salary received to date. So it is $8.5MM in January 2018. Let's say we fire him on December 1, 2017. He will have been paid 11 months of $3.5MM, so that is $3.209MM, we would owe him a buyout of $8.79MM. The first payment of $2MM is due 60 days after termination, so February 1, 2018. The rest of it is payable over the length of the contract. The contract runs through December 2021, so we would owe him roughly $1.7MM per year except the first year, in which we owe him $3.7MM.
This is actually better than what I thought it was when I first heard about the buyout. It is dooable. Cut bait to save long term pain.
Posted on 10/1/17 at 11:35 pm to clamdip
quote:
I love you, Tiger Phil. But, you already knew that.
Posted on 10/1/17 at 11:36 pm to notbilly
Wonder if you could fire him with cause.
It says you can fire him for
"Unreasonably refusing or repeatedly failing to perform any duties imposed upon COACH herein (included, but not limited to, those duties and responsibilities set forth in section 3) or failing to perform the same to the best of the COACH's reasonable ability, after written notice to COACH of LSU's reasonable expectation.
**part V of Termination section**
SECTION 3 part A says
"Administering, managing, and leading the Program in a professionally appropriate and competent manner which allows the Team to effectively compete in the football classification generally known as the Power Five, within National Collegiate Athletic Association ("NCAA") play
So if LSU finishes with 4-5 wins total, would that be considered to not be effectively competing?
Can they give him a written notice (this week) of LSU's expectations to win 7 games this year? If he doesn't attain that could it be means to fire him with cause?
I am grasping at straws here--lol
It says you can fire him for
"Unreasonably refusing or repeatedly failing to perform any duties imposed upon COACH herein (included, but not limited to, those duties and responsibilities set forth in section 3) or failing to perform the same to the best of the COACH's reasonable ability, after written notice to COACH of LSU's reasonable expectation.
**part V of Termination section**
SECTION 3 part A says
"Administering, managing, and leading the Program in a professionally appropriate and competent manner which allows the Team to effectively compete in the football classification generally known as the Power Five, within National Collegiate Athletic Association ("NCAA") play
So if LSU finishes with 4-5 wins total, would that be considered to not be effectively competing?
Can they give him a written notice (this week) of LSU's expectations to win 7 games this year? If he doesn't attain that could it be means to fire him with cause?
I am grasping at straws here--lol
Posted on 10/1/17 at 11:37 pm to Godfather1
$1.7 mil? Out of a department that profited $55 million during the 2015-2016 academic year, That is very manageable even if TAF contributes 0 the buyout.
Posted on 10/1/17 at 11:38 pm to SportTiger1
Right now with O’s weekly shite show Series being played nationally it’s only helping Les land another HC gig imho
Posted on 10/1/17 at 11:38 pm to notbilly
OP, change the thread title to say it's currently $9.4 Million and decreasing.
Posted on 10/1/17 at 11:40 pm to SammyTiger
quote:
So basically it's 12 million - what we've paid him to date?
For the first two years, yes.
We made a $12 million investment in Orgeron. Almost regardless of when we fire him.
Posted on 10/1/17 at 11:41 pm to SportTiger1
quote:
Well done sir
My pleasure. I mean that literally. Finding the buyout to be less than expected has been the best part of the weekend.
Posted on 10/1/17 at 11:42 pm to Tunasntigers92
quote:
He's toast at the end of the season with a 3-9 record.
We can only hope. Remember who our AD is...
Posted on 10/1/17 at 11:43 pm to Number 31
AD will probably be gone as well
Posted on 10/1/17 at 11:43 pm to Tiger Phil
Done
Posted on 10/1/17 at 11:46 pm to notbilly
Don't forget the millions we would owe Aranda ($4 million left on contract) and Canada ($3 million left on contract.)
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