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re: Footballscoop says Joe “burned away $1.5M” with Les payment
Posted on 11/18/18 at 4:37 pm to Quatre Pot
Posted on 11/18/18 at 4:37 pm to Quatre Pot
Yep...LSU got squeezed...plan and simple. Only thing is...they didn't care because they were able to get miles off there balance sheet at a discounted price.
1
Posted on 11/18/18 at 4:38 pm to secfballfan
Yes. Every decision Alleva makes is the wrong decision
Posted on 11/18/18 at 4:45 pm to DEG
Alleva made a hedge bet.
Posted on 11/18/18 at 4:46 pm to secfballfan
This was not Alleva's decision alone
Alleva doesnt have approval level high enough to stroke a $1.5mm check
He definitely recommended to FKA that they cut the check, but JA didnt make that decision on his own
The thing is, they cut the check and are now done with it. So regardless what happens with Miles now, they are free and clear.
Only Miles, his agent and Jeff Long know how close they were to a deal. Alleva certainly didnt know.
Even if JA suspected KU and Miles were close, he has an opportunity to get the Miles deal off the books with $5mm savings, you take it. Now it doesnt matter what happens with KU, Miles is in the rearview window for LSU
Alleva doesnt have approval level high enough to stroke a $1.5mm check
He definitely recommended to FKA that they cut the check, but JA didnt make that decision on his own
The thing is, they cut the check and are now done with it. So regardless what happens with Miles now, they are free and clear.
Only Miles, his agent and Jeff Long know how close they were to a deal. Alleva certainly didnt know.
Even if JA suspected KU and Miles were close, he has an opportunity to get the Miles deal off the books with $5mm savings, you take it. Now it doesnt matter what happens with KU, Miles is in the rearview window for LSU
This post was edited on 11/18/18 at 4:49 pm
Posted on 11/18/18 at 4:54 pm to secfballfan
I don't like Alleva but this is one of the few times he *didn't* frick up
LSU got a good deal on this
LSU got a good deal on this
Posted on 11/18/18 at 5:57 pm to Bayoufightingtiger
quote:
Looks like Kansas would of paid off the balance during his remaining term.
Why do smart people type "would of" when such a gaffe makes it appear as if you don't know basic grammar? Because, clearly, you DO have basic grammar skills.
And don't say "typo" or "auto-correct". Bull shite.
Posted on 11/18/18 at 6:08 pm to Walnut
quote:
LSU got a good deal on this
paid $1.5 million MORE than they would have owed if they waited less than a week.
Posted on 11/18/18 at 6:24 pm to Nutriaitch
quote:
paid $1.5 million MORE than they would have owed if they waited less than a week.
So your contention is that, week ago, everyone should have assumed there was a 100% chance that Les Miles would:
1. Sign a contract immediately
2. Sign a contract that was worth more than $1.6MM/year
3. Sign a contract that was not back-loaded to take advantage of the LSU buyout money in the first 1-2 years
And,
4. Keep getting paid on that new contract through 2022.
Because all of these things have to happen for LSU to be completely free of their obligations to Les Miles without a deal. Anyone saying the athletic department should have given him $0 is saying that a there was a 100% chance all of these things would happen a week ago.
Posted on 11/18/18 at 6:43 pm to Nutriaitch
quote:
paid $1.5 million MORE than they would have owed if they waited less than a week.
You're applying hindsight to contract negotiations; it doesn't really work that way
LSU had no knowledge of how much Kansas would offer Les or even if a solid offer was in hand, and they were looking to settle and save as much money as possible. Frankly it would've been a bone headed move to roll the dice and wait, because there was a high probability that Kansas low-balled Les' salary, leaving LSU to foot the remainder of the bill and pay more than $1.5 million.
Les ended up ahead by making more money overall than he would have, LSU ended up ahead by getting Les off of the books for $5 million less than they contractually had projected, Kansas ended up ahead by getting a slam dunk hire by their standards secure and in their camp.
Posted on 11/18/18 at 6:49 pm to lostinbr
quote:
So your contention is that, week ago, everyone should have assumed there was a 100% chance that Les Miles would:
my contention is that a week ago it was widely reported that he was the front runner for a Power 5 head coaching gig.
waiting another couple weeks or so to see what happens wasn’t going to hurt LSU.
Les jumping at giving up $5mil told me right away the Kansas thing was all but done. Posted as much on other boards almost immediately after it was announced.
said then that it would soon be announced that Les was gonna sign with KU for enough money that LSU would have owed $0.
Posted on 11/18/18 at 6:58 pm to secfballfan
I agree with the article ( I think). Someone tell me how it’s wrong.
Posted on 11/18/18 at 6:59 pm to secfballfan
This was all above the board (but behind the scenes). LSU, Kansas, and Les all worked together to come up with the numbers. LSU did just fine. Kansas and Les could have stuck it to LSU.
Posted on 11/18/18 at 6:59 pm to SammyTiger
Les has no duty to mitigate.
He is entitled to the full benefit of his bargain.
Both sides did the right thing here, but Les could have driven a harder bargain if he was not a gentleman.
He is entitled to the full benefit of his bargain.
Both sides did the right thing here, but Les could have driven a harder bargain if he was not a gentleman.
Posted on 11/18/18 at 7:00 pm to nitwit
How could Les and Kansas have driven a harder bargain?
Posted on 11/18/18 at 7:07 pm to Nutriaitch
quote:
my contention is that a week ago it was widely reported that he was the front runner for a Power 5 head coaching gig.
Ok, I think that addresses point number 1:
quote:although I would argue that it still wasn’t a 100% lock.
1. Sign a contract immediately
Regardless, that doesn’t address the other 3 things that have to happen for LSU to owe Les Miles $0:
quote:
2. Sign a contract that was worth more than $1.6MM/year
3. Sign a contract that was not back-loaded to take advantage of the LSU buyout money in the first 1-2 years
And,
4. Keep getting paid on that new contract through 2022.
quote:
waiting another couple weeks or so to see what happens wasn’t going to hurt LSU.
Unless Miles doesn’t sign a contract that meets all four of the criteria above, in which case he walks away from the negotiating table.
And even if he DID sign a contract, we would still potentially be out more money if he got fired before 2022. Posted on 11/18/18 at 7:11 pm to lostinbr
Nice breakdown, makes sense
Posted on 11/18/18 at 7:14 pm to The Mick
quote:
How could Les and Kansas have driven a harder bargain?
For one, they could have agreed to a contract that was mostly incentive-based for the first two years, with more guaranteed money in years 3-4. They could have done this in a way that allowed Les to make the same amount of money over the four-year period but still milked his buyout money from LSU early, which would allow Kansas to pay less out of their pockets.
Posted on 11/18/18 at 7:17 pm to lostinbr
Gotcha, thx
Posted on 11/18/18 at 7:22 pm to The Mick
Les could have sat back and made 5 mill for doing nothing. The 1.5 was money well spent just to be free and clear of him. Anyone who thinks other wise is plainly a simple minded fool.
Posted on 11/18/18 at 7:23 pm to Walnut
quote:
Les ended up ahead by making more money overall than he would have, LSU ended up ahead by getting Les off of the books for $5 million less than they contractually had projected, Kansas ended up ahead by getting a slam dunk hire by their standards secure and in their camp.
yes, a rare example of "everybody wins"
why is this bad? negotiations dont always have to have a winner and a loser, there can simply be a fair deal for both sides and that is it
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