What’s the buyout?
Chill out I asked a simple questionScat fans KNOW all about BUYOUTS.
Chill out I asked a simple question
Linebackers were always in the wrong position! And none on the coaching staff knew how to stop the Triple option.
Bobby Petrino and Louisville are having a bad 2018.
The Cardinals haven’t adapted well to a post-Lamar Jackson rule, and they’ve looked bad even when they’ve won, which hasn’t been a lot. In Week 5 against Florida State, he made a most perplexing late play call, flushing a near-certain win down the drain. Lots of Louisville fans have opined that Petrino looks disinterested during games, and message boards are hot with theories that he’s trying to get himself fired.
That’s probably not true.
But it is true that Petrino’s unusual contract might insulate him from the heat. He’s positioned to make out well, whether he’s fired or not.
If Louisville fires Petrino during the 2018 season or right after it, the school could owe him more than $14 million in buyout money.
Petrino signed a seven-year extension in 2016. He’s under contract into the 2023 calendar year. The buyout provisions in Petrino’s contract — a copy of which SB Nation reviewed — are complex, but we can boil them down.
If Louisville fires Petrino without cause — i.e., for losing too many games — it has to pay out his guaranteed money for the rest of that year and three years following it. (If Louisville were to fire him in the last three years of the deal, the school would only owe him whatever remained at that point. The structure of Petrino’s contract would make his
buyout slightly bigger if he were fired in 2019, so Louisville might not have reason to wait.)
His contract also includes a $500,000 annual payment when Louisville’s Academic Progress Report score is above 935, and his team is above that mark, as is almost every Division I program.
Petrino’s 2018 pay, including the APR bonus, comes out to $4.475 million. If Louisville fired him on Dec. 1, right after the season, it would owe:
That’s $12.225 million.
- $4.025 million for 2019
- $4.075 million for 2020
- $4.125 million for 2021
But the school would still have to pay him whatever remains of his $3,975,000 base pay for 2018, going to the end of the calendar year. If Louisville fired him on Dec. 1, 2018, that’d leave him one more month of base pay for this year (about $331,000) on top of everything above. (His $500,000 APR payment is due in November, so he’d get that before being fired in this case.)
His buyout would total about $12.6 million at that point, but because of the deal’s structure, that likely would not be all. The language also suggests Petrino would likely get three more years of the $500,000 APR bonuses, even if he weren’t coaching. Unless Louisville argued against that or somehow failed to keep up its APR, Petrino’s buyout would rise by another $1.5 million, going to about $14.1 million on Dec. 1, 2018.
https://www.google.com/amp/s/www.sb...fire-bobby-petrino-contract-buyout-louisville
Tl;dr version: he is gonna be your coach next yearThis jackass.........
Tl;dr version: he is gonna be your coach next year
Serious question though after rereading that.Not tonite blue.
See ya n a couple of days.
Bobby Petrino and Louisville are having a bad 2018.
The Cardinals haven’t adapted well to a post-Lamar Jackson rule, and they’ve looked bad even when they’ve won, which hasn’t been a lot. In Week 5 against Florida State, he made a most perplexing late play call, flushing a near-certain win down the drain. Lots of Louisville fans have opined that Petrino looks disinterested during games, and message boards are hot with theories that he’s trying to get himself fired.
That’s probably not true.
But it is true that Petrino’s unusual contract might insulate him from the heat. He’s positioned to make out well, whether he’s fired or not.
If Louisville fires Petrino during the 2018 season or right after it, the school could owe him more than $14 million in buyout money.
Petrino signed a seven-year extension in 2016. He’s under contract into the 2023 calendar year. The buyout provisions in Petrino’s contract — a copy of which SB Nation reviewed — are complex, but we can boil them down.
If Louisville fires Petrino without cause — i.e., for losing too many games — it has to pay out his guaranteed money for the rest of that year and three years following it. (If Louisville were to fire him in the last three years of the deal, the school would only owe him whatever remained at that point. The structure of Petrino’s contract would make his
buyout slightly bigger if he were fired in 2019, so Louisville might not have reason to wait.)
His contract also includes a $500,000 annual payment when Louisville’s Academic Progress Report score is above 935, and his team is above that mark, as is almost every Division I program.
Petrino’s 2018 pay, including the APR bonus, comes out to $4.475 million. If Louisville fired him on Dec. 1, right after the season, it would owe:
That’s $12.225 million.
- $4.025 million for 2019
- $4.075 million for 2020
- $4.125 million for 2021
But the school would still have to pay him whatever remains of his $3,975,000 base pay for 2018, going to the end of the calendar year. If Louisville fired him on Dec. 1, 2018, that’d leave him one more month of base pay for this year (about $331,000) on top of everything above. (His $500,000 APR payment is due in November, so he’d get that before being fired in this case.)
His buyout would total about $12.6 million at that point, but because of the deal’s structure, that likely would not be all. The language also suggests Petrino would likely get three more years of the $500,000 APR bonuses, even if he weren’t coaching. Unless Louisville argued against that or somehow failed to keep up its APR, Petrino’s buyout would rise by another $1.5 million, going to about $14.1 million on Dec. 1, 2018.
https://www.google.com/amp/s/www.sb...fire-bobby-petrino-contract-buyout-louisville
Granted that Pitt, as always, sucks. However, GT played flawlessly last night. Not one single penalty. Not one turnover. Timing perfect, execution excellent. Playing with a fire that we haven’t shown since game 1. I do believe they would have beaten any team in the ACC last night. I also know the triple option is tough to defend (ask Oklahoma). But 66 points? That’s being completely unprepared, then quitting by halftime. GT was running against air most of the game. Some grants in aid need to be revoked. St X would have done better.Pittsburgh 24
GT 19.
19.
NINE TEEN.
Has that sunk in
Granted that Pitt, as always, sucks. However, GT played flawlessly last night. Not one single penalty. Not one turnover. Timing perfect, execution excellent. Playing with a fire that we haven’t shown since game 1. I do believe they would have beaten any team in the ACC last night. I also know the triple option is tough to defend (ask Oklahoma). But 66 points? That’s being completely unprepared, then quitting by halftime. GT was running against air most of the game. Some grants in aid need to be revoked. St X would have done better.
Pittsburgh 24
GT 19.
19.
NINE TEEN.
Has that sunk in
Well now there’s bad blood between VanGorder and UofL fans.Also Espin guys said there was bad blood between Paul Johnson and Van Gorder.
All this wailing and gnashing of teeth leads to.............................. Nothing.
What does anyone honestly expect on October 6? He going to be fired today? Nope. Monday? Nope. End of season? First opportunity but doubtful.
In all reality Petrino gets another season to turn it around. The business end of it makes it too expensive to get rid of him because fundraising is suffering because a different group of people wanted Tom Jurich fired.
Here's a consideration that might matter... When are you supposed to have $12+ million in the bank? Now or after 2019?...If his buyout is larger if you fire him after 2019 wouldn’t it be smarter to do it now and eat the 12+ mill. That’s not a question for zipp because I know his answer
Well now there’s bad blood between VanGorder and UofL fans.
Last time I checked we have always been in the SEC so I don’t think we bent over to take any money. Bobby’s agent is the real mvp of this situationHere's a consideration that might matter... When are you supposed to have $12+ million in the bank? Now or after 2019?
We don't bend over to take SEC money around here, although our slappy AD has some perspective...
They don't mass produce these for just anyone...Last time I checked we have always been in the SEC so I don’t think we bent over to take any money. Bobby’s agent is the real mvp of this situation
I understand what you’re going through this yearThey don't mass produce these for just anyone...
VanGorder is a joke. And he was hired by the biggest joke!