re: A member at our Club is on the Board that hires and fires

Posted on 9/27/10 at 2:36 am to GIR

Posted by ashy larry

Marcy Projects

Member since Mar 2010

5582 posts

Posted on 9/27/10 at 2:36 am to GIR

quote:
In 2007 Miles basically signed a 7 year deal. 2 years have past with this being the 3rd. That leaves 4 years on the deal. 3.8x4= $15.2M that is Miles buyout. A year can be rolled over at the digression of AD and several other high profile members in the LSU system. It has not in the past two years.

In case anyone is curious.... the above info is accurate. $15 mil is what Miles' buyout will be at the end of this season. Buying out this contract will cost other sports upgrades to their facilities.

Miles is currently making roughly $3.75 mil per year with 4 years left after 2010. So his buyout would be $1.875 mil per year for 8 years. The best case scenario would be for Miles to win enough games this season to keep his job. His contract will not be rolled over for anything short of a championship type season. Therefore at the end of next year he would be owed only for three years. That is much more attractive that owing him $15 mil while trying to afford hiring a quality coach to replace him.

1 ...

Report Post

Posted by hemiroid

Bossier City

Member since Jan 2009

1460 posts

Posted on 9/27/10 at 2:59 am to ashy larry

A quote from the Les is More article on espn!!

quote:
Les is more: What about the cost of a buyout? It would be huge. Miles has three years left on his deal at well in excess of $3 million a year. How could you justify that? Settling for Les: It can be justified because LSU football is a cash-making machine. Earlier this year, Forbes magazine estimated that the football program is worth $89 million and earns an annual profit of $39 million. So don't talk to me about Les Miles' buyout as some kind of prohibitive amount. LSU is picked to finish fourth in the SEC West. Fourth! If that prediction comes to fruition, the school can't afford not to buy him out.

Page 1 2 3