According to Guilbeau, buy out is half of what is believed?

Yes. See my earlier post from today.

Let's lose a few more games before all this shite.. We still gotta shot of the offense keeps goin in the right direction. If we go 10-2 miles will have proven he can still get it done.

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quote: Had Miles been fired postdated to Dec.31, 2015, his buyout would have been $15 million minus his salary of $4.3 million, according to his contract. That would have been a $10.7 million buyout. That minus his $4.3 million salary would be $6.4 this Dec. 31. It may depend on how one reads the contract. But that is how many read it, including LSU’s attorneys. Miles’ agent George Bass does not read it that way if he actually read it. He was saying $15 million last year as were other media accounts, but they were wrong. So if accurate, waiting until the end of the season and postdating the firing to Dec 31 will only cost LSU $6.4 million to be spread out over time? Has anybody else seen a source other than GG?

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Yes, Miles' contract. GG is wrong (shocking, I know). He decreases it by Miles' salary each year. If that is how it worked, with the contract having started 1/1/13, the buyout would now be $2.1 mil, minus compensation received this year, which would make it $0.

The buyout is no less than $8.6 mil (paid monthly over several years). See paragraph 13 at the link below.

The explanation is this: The buyout does not keep decreasing by year. The first three years of the contract, which started on 1/1/13, the buyout was $15 mil minus any compensation paid in the year he was terminated prior to his termination.

The buyout prior to 12/31/17 is $12.9 mil minus any compensation actually paid in the terminating year. The way I read the contract - and I know this will sound bizarre - is that if he is terminated on Dec 31, 2016 he is owed an $8.6 mil buyout (12.9 buyout-4.3 in compensation in 2016). If he is terminated Jan 1, 2017 he is owed a $12.9 mil buyout (because he would have received no compensation in 2017). This gives the university an incentive to fire him sooner so that he can get a job and reduce the buyout further.

Once lawyers get a hold of this it may all change and my reading may not hold. Any buyout will also likely be negotiated anyway. However, this is what the contract seems to say. And by any interpretation GG's explanation is wrong.

LINK

Now we have a sports writer practicing law. How pathetic!

I've been practicing contract law for over 30 years. The liquidated damages clause and the contract are very clear.

Macavity92's reading is spot on. Don't know if he is an attorney or not, but he explains it pretty well.

Compensation paid during the year of termination and the additional buyout due must equal the amount set forth in Section 13.A.ii. I don't know how Miles is paid or when he is paid (semi-monthly, monthly, quarterly, etc.), but, assuming that he had already received or will receive his full compensation for 2016, prior to any termination, he would be due $12,900,000 minus any compensation already paid in 2016. If he is terminated after 1/1/2017, he would get $12,900,000 (assuming he had not been paid anything in 2017 yet). The key date is when the notice of termination is given. The termination date is set forth in the notice, but the notice of termination date determines which liquidated damages clause applies.

Interesting to note, if termination occurs in 2016, the liquidated damages amount due is paid over 6 years (twice the period of time remaining (would be 3 years) on the term of the Agreement), per Section 13.A.iii. In addition, as standard in most contracts, there is a mitigation of damages section (Section 13.A.iii) in which Miles is required, in good faith, to seek similar or related employment and that compensation received offsets against the buyout amount.

That is why most coaches try to settle upon termination of employment. If Miles doesn't get another job, LSU could argue that the buyout is reduced because of his default under this clause. If Miles settles with LSU, he can normally get any job that he wants and that salary is not offset against the settlement.

No charge for my services today.

Martin posted while I was posting, but I agree with his analysis as well.

This is completely germanic.

F**k

He gone

The SEC thing is really overblown. Conferences all over are as competitive as ever IMO.

You can afford a loss, maybe even two in the SEC, you can't always afford it elsewhere.

If Miles, as an avg coach can come in and maintain off the talent of an established LSU.. imagine an actual coach who is above average.. the sky is the limit.

The new coach could get by on 2-3 losses.. Miles isn't losing just 1-2 games any more.. he is losing 3-5 now.. Plus he's not even competitive in the losses. Perhaps it we were competitive in these games it might be a different story..

I miss seeing LSU dominate inferior teams, especially in the 2nd half.

I don't think that will be an issue

Guilbeau or not, the good news out of all of this as a Tiger fan who wants to get back to hopefully elite status is that barring a trip to the college playoffs this season , Miles can easily be let geaux without paying an arm and a leg according to the attorneys who have posted on here.