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It wasn’t mutual, and we paid the full buyout...
Posted on 1/6/18 at 6:18 am
Posted on 1/6/18 at 6:18 am
...for Canada to leave. The negotiated $1.7 million that does NOT get diminished by future salary is actually more that the $3 million. Had we just cut him Canada would have been hired for at least $1 million per year, and we would have supplemented $500,000 per year, or $1 million total.
Now, Canada can earn $2 million the next two years by coaching, and he can pocket LSU’s $1.7. That’s $3.7 or $1.85 million per year. Canada just got a $350,000 per year raise. Congratulations, dude
Now, Canada can earn $2 million the next two years by coaching, and he can pocket LSU’s $1.7. That’s $3.7 or $1.85 million per year. Canada just got a $350,000 per year raise. Congratulations, dude
19
Posted on 1/6/18 at 6:21 am to Penrod
Sounds about par for the course with the three in charge.
Posted on 1/6/18 at 6:26 am to Tigertown in ATL
quote:
Now, Canada can earn $2 million the next two years by coaching
Do you mind if I borrow that crystal ball to place a few bets on NFL football today?
Posted on 1/6/18 at 6:28 am to Penrod
quote:
The negotiated $1.7 million that does NOT get diminished by future salary is actually more that the $3 million.
Are you drunk?
Posted on 1/6/18 at 6:47 am to Smalls
quote:
Are you drunk?
No. I read dandydon.com, though.
Posted on 1/6/18 at 6:51 am to Penrod
The cancer is removed, the cost doesn't matter.
Posted on 1/6/18 at 6:51 am to Penrod
quote:
Now, Canada can earn $2 million the next two years by coaching
Rutgers won't pay nearly that much.
Posted on 1/6/18 at 6:54 am to Penrod
you sure have some funny math man.
let's see, we owed him 3 million and we paid him 1.7 million. yet you spin to say we paid 3 million (even if the numbers aren't there) and then add in it wasn't mutual. like that matters.
what you people will do to make LSU look bad is worse than what our competitors do.
let's see, we owed him 3 million and we paid him 1.7 million. yet you spin to say we paid 3 million (even if the numbers aren't there) and then add in it wasn't mutual. like that matters.
what you people will do to make LSU look bad is worse than what our competitors do.
Posted on 1/6/18 at 6:57 am to LSU GrandDad
The point is that we owed him $3 mm LESS his salary at his next gig.
Now we pay him $1.7 less NOTHING.
The latter is more than the former. Nothing funny about that math, and a clear indicator that this was not mutual.
Now we pay him $1.7 less NOTHING.
The latter is more than the former. Nothing funny about that math, and a clear indicator that this was not mutual.
Posted on 1/6/18 at 6:59 am to Penrod
quote:
3 mm LESS his salary at his next gig.
His next gig won't pay much.
Posted on 1/6/18 at 6:59 am to LSU GrandDad
quote:
what you people will do to make LSU look bad is worse than what our competitors do.
How does this make LSU look bad? The party initiating the split usually looks stronger, right?
Posted on 1/6/18 at 7:00 am to The First Cut
quote:
His next gig won't pay much.
How much do you think?
Posted on 1/6/18 at 7:03 am to Penrod
I’m not sure you understand buyouts. Canada was never going to take less than the contract unless he either got a lump sum or was absolved of the reduction v future earnings or both.
There was no reason for him to. It had to be somewhat attractive to him or he would have just accepted the firing and the original terms.
Finally he wanted O out or out of his offense or he wanted out but he wasn’t going to quit.
It was mutual in the sense he didn’t want to work here under the O any more. And if you read DandyDon he said the same thing.
There was no reason for him to. It had to be somewhat attractive to him or he would have just accepted the firing and the original terms.
Finally he wanted O out or out of his offense or he wanted out but he wasn’t going to quit.
It was mutual in the sense he didn’t want to work here under the O any more. And if you read DandyDon he said the same thing.
This post was edited on 1/6/18 at 7:04 am
Posted on 1/6/18 at 7:12 am to Penrod
Comprehension is not your best trait
Posted on 1/6/18 at 7:15 am to Penrod
We didn't pay full payout
Canada really wanted out or we had something on him not to play full amount
Canada really wanted out or we had something on him not to play full amount
Posted on 1/6/18 at 7:15 am to Penrod
quote:
The point is that we owed him $3 mm LESS his salary at his next gig.
like the les miles deal? the mythical offset.
you cannot prove that he would have even got another job for a year or two and even so it would probably be in the half a million range.
LSU did well with this buy out settlement.
as far as the mutual crap everyone knows better; it's pr talk. LSU FIRED MATT CANADA.
Posted on 1/6/18 at 7:15 am to Penrod
quote:
How much do you think?
I really don't care. He's heading back to a mid-major school, where he belongs.
Posted on 1/6/18 at 7:16 am to Penrod
If Canada make 650K a year on his next job plus LSU’s buyout he makes 1.5 mil. We won’t know which side made the better deal until he gets his next job and we find out how much he is getting paid.
This post was edited on 1/6/18 at 7:20 am
Posted on 1/6/18 at 7:17 am to NoGeaux
quote:
Canada was never going to take less than the contract unless he either got a lump sum or was absolved of the reduction v future earnings or both.
Or LSU had cause. Your post was essentially the point of my OP. Canada had all the cards, we paid him full buyout, and it was not mutual.
As to my knowledge of contracts of this sort; I deal with them on a weekly basis. Incentives, guaranteed earnings, the mandate that future earnings detract, non-competes are weekly treacle to me. I’m not a lawyer, though, so I’m not an expert.
Posted on 1/6/18 at 7:24 am to geauxtigers33
quote:
If Canada make 650K a year on his next job plus LSU’s buyout he makes 1.5 mil. We won’t know which side made the better deal until he gets his next job and we find out how much he is getting paid.
Did he definitely have buyout reduce by next job?
Contracts are so convoluted
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