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Started By
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re: Miles Contract
Posted on 9/5/10 at 5:46 pm to llgsmg
Posted on 9/5/10 at 5:46 pm to llgsmg
Here's the language in the link to a Guilbeau article:
"Yes, particularly when you consider the financial issues LSU is dealing with lately and the large buyout LSU officials carelessly awarded Miles after the 2007 season when his bonus clauses had already pushed him from $1.8 million a year to about $3.8 million a year. It could cost LSU about $15 million to fire Miles after this season. That figure comes from his salary times the four years remaining on his conract after 2010. Then LSU and the TAF will have to find more cash for a new coach, particularly if it wants a good one like Bo Pelini. But when the football program needs money, LSU and the TAF usually find some."
"Yes, particularly when you consider the financial issues LSU is dealing with lately and the large buyout LSU officials carelessly awarded Miles after the 2007 season when his bonus clauses had already pushed him from $1.8 million a year to about $3.8 million a year. It could cost LSU about $15 million to fire Miles after this season. That figure comes from his salary times the four years remaining on his conract after 2010. Then LSU and the TAF will have to find more cash for a new coach, particularly if it wants a good one like Bo Pelini. But when the football program needs money, LSU and the TAF usually find some."
2
Posted on 9/5/10 at 5:48 pm to TGK4LSU
quote:; You must be a complete idiot, would like to be in USC's position just to fire Miles.
Should we hope for an NCAA violation? would that allow LSU to fire him with cause and void the buyout
Posted on 9/5/10 at 5:53 pm to lsutigertalk
But, that is what happens when a bunch of Rah Rah fans that come and gets heard the most over those who have been with the program the most and has the programs best intrest at heart. I am not so sure that we have the right people in charge right now to make the right hire for this job. This is a unique program and it takes someone with a strong will and determination to run it the way it needs to be ran. That is what is missing out on the field and in the offices and until that is taken care of we will continue to see over and over again with the next hire.
Posted on 9/5/10 at 5:55 pm to COTiger
last i checked, 2 years left and about $8M to pay it off
Posted on 9/5/10 at 5:56 pm to COTiger
quote:
at figure comes from his salary times the four years remaining on his conract after 2010
he is under contract through the 2012 season, not the 2014 season
Posted on 9/5/10 at 5:57 pm to CaseyMc2
quote:
This is a unique program and it takes someone with a strong will and determination to run it the way it needs to be ran
apparently been missing for 112 years (minus miles years of course).
ya, 7 big 'ol 10 win seasons! Unique is a better word than elite.
Posted on 9/5/10 at 5:57 pm to COTiger
The term "with cause" is flexible. Also, as mentioned by a previous poster, it is quite rare that a complete buyout is paid. Furthermore, we would only be liable at most for the difference in salary between what he gets now, and what he got in his next position.
As usual, Guilbeau is misinformed in the article. The contract wasn't rolled over the last two years. If he's fired at the end of this year, there will only be two years left.
Chances are it would be settled out of court for about half of what he would be owed. ($4,0000,000 of $8,000,000 or so).
As usual, Guilbeau is misinformed in the article. The contract wasn't rolled over the last two years. If he's fired at the end of this year, there will only be two years left.
Chances are it would be settled out of court for about half of what he would be owed. ($4,0000,000 of $8,000,000 or so).
Posted on 9/5/10 at 5:58 pm to SlowFlowPro
Just a question if we win all our games but they are close but still win a NC would you want miles fired because the games were close? Please inform me of what your logical thinking would be if this were to happen?
Posted on 9/5/10 at 5:58 pm to Politiceaux
and that's only if he doesn't take another job
if les takes another job, we get that salary taken off our debt
and we can structure the payments over a long period of time
it sucks, but it's not the end of the world
if les takes another job, we get that salary taken off our debt
and we can structure the payments over a long period of time
it sucks, but it's not the end of the world
Posted on 9/5/10 at 5:59 pm to COTiger
When Dr. Charlie Roberts visited the alumni here in Feb, he said he knew that fans weren't very happy with Miles, but that because of his buyout he wasn't going anywhere any time soon.
This post was edited on 9/5/10 at 6:00 pm
Posted on 9/5/10 at 5:59 pm to lsudaboss
quote:
Just a question if we win all our games but they are close but still win a NC would you want miles fired because the games were close?
this type of thinking is why we lost 2 games in 2007 and had shitty years in 2008 and 2009
if you coach to keep every game close, you're going to lose a bunch of games you shouldn't...like we should have last night
Posted on 9/5/10 at 6:00 pm to TGK4LSU
Wouldn't want to get a judge who was a Tulane alumnus.
Posted on 9/5/10 at 6:00 pm to Politiceaux
Thanks for the info. 
Posted on 9/5/10 at 6:09 pm to COTiger
if i am not mistaken, he can't just sit around and not look for another job. once he finds another job, LSU would pay him the difference in what he is owed vs what he would be making at his new job. say he is owed $2 million a year for the next 5 years and he's making $1.5 at another school. LSU would pay him $500,000 per year since the buyout is paid out over a 5 year span. i want to say, last year the buyout was around 12 million,take that minus this years salary and he would be owed $8.5 million. i could be wrong though.
Posted on 9/5/10 at 6:09 pm to COTiger
Not a problem. There's a lot of misinformation about Miles' contract out there. The most egregious is that we would have to pay him a full $15,000,000 and that it would be a lump sum. As SFP mentioned, it can be spread out over a generous period and after this year would probably be settle for about $4 million.
Posted on 9/5/10 at 6:13 pm to Politiceaux
I'm telling you the Pennington Family will buy out his contract if the LSU administration moves forward with getting rid of Miles if and when it ever takes place.
Posted on 9/5/10 at 6:17 pm to Jason
Anyone know how much is left on Crowton's contract?
Posted on 9/5/10 at 6:18 pm to COTiger
I think it's 3 and I hear they have the money.
Posted on 9/5/10 at 6:25 pm to catnip
quote:
I think it's 3 and I hear they have the money.
3 what?
Posted on 9/5/10 at 6:25 pm to catnip
Wait, 3 years left?
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