Lawyer Speak Question, When A Coach is bought out does it restrict him from coaching?

[glassmanJ]

i believe in most buyout cases, the person being bought out usually has some restrictions on future employment, almost like alimony if the a spouse gets remarried the alimony stops. les miles just condensed his buyout from LSU so he could coach next year meaning under his buyout, he wasn't able to coach. So even if we buy petrino out, is there a chance the full amount is not reached? anyone know about his contract or things liek this?

 

[gobigblue812]

Usually, no. The new school's salary Is deducted from the buyout.

So if coach gets $3 million per year in buyout and his new school pays $2 million then his old school would only have to pay $1 million.

 

[bear_down_chicago_89]

Apparently no offset language in Petrino deal.

 

[gobigblue812]

Apparently no offset language in Petrino deal.

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Wow. What a sweetheart deal Jurich gave petrino.

 

[destewart]

Wow. What a sweetheart deal Jurich gave petrino.

His deal was consistent with those given to most Power5 coaches. Sumlin received $10 million within 60 days of being terminated at A & M. He is making about $3 million at Arizona
and gives nothing back to Aggies.

 

[gobigblue812]

His deal was consistent with those given to most Power5 coaches. Sumlin received $10 million within 60 days of being terminated at A & M. He is making about $3 million at Arizona
and gives nothing back to Aggies.

I don't think that's standard. Les Miles contract with LSU stipulated that his buyout would be subtracted from his new salary/job.

 

[destewart]

I don't think that's standard. Les Miles contract with LSU stipulated that his buyout would be subtracted from his new salary/job.

https://www.azcentral.com/story/spo...ootball-coach-todd-graham-contract/895835001/

https://www.usatoday.com/story/spor...emas-buyout-arkansas-11-9-million/1080983001/

LSU was not the norm

 

[destewart]

I don't think that's standard. Les Miles contract with LSU stipulated that his buyout would be subtracted from his new salary/job.

Then there is this beauty

http://www.espn.com/college-footbal...es-vote-confidence-football-coach-gus-malzahn

 

[KozmasAgain]

And everybody thought LSU was a football school.

 

[gobigblue812]

https://www.azcentral.com/story/spo...ootball-coach-todd-graham-contract/895835001/

https://www.usatoday.com/story/spor...emas-buyout-arkansas-11-9-million/1080983001/

LSU was not the norm

Uhhhh, did you read the article?


The buyout, of course, is subject to Bielema’s duty to mitigate, with his future income offsetting what he is owed.

 

[gobigblue812]

In another article:

Also, UCLA owes Jim Mora $12.2 million and Tennessee owes Butch Jones $8.3 million. Both of those amounts are subject to offset. As well as Mike Riley from Nebraska.

 

[gobigblue812]

Tom Herman and Texas.

If Texas decides to fire Herman without cause, it will owe him $5 million for each remaining year on the contract, with partial years pro-rated. However, Texas will be able to offset that by all “football-related” income Herman would get, according to the term sheet released by the university.

Texas is set to pay Strong a buyout of $11.2 million for the last two-plus years of his deal, and it will be able to offset that amount by 50% of Strong’s future pay.