Terry got me interested so did a quick search. I can understand having them- YOU COLLEGE FANS are so crazy and put 'em out to pasture on a whim, but must make it much more palatable to be fired with the big bucks they get on the way out. Any thoughts? http://www.usatoday.com/sports/college/2006-11-27-coaches-buyout_x.htm These go back to 2003: SEVER(ENCE)ING TIES A look at the status of the contracts of Division I-A coaches who were fired this season:
Re: Coaches' Buy Out clauses The buyouts really don't mean one thing or another to me. It won't stop a coach from leaving if he's hired somewhere else...or decides to quit. I did think the way the buyout was structured in Shula's case was smart. He'd get paid every month only if he was actively searching for work. If you recall, his first "interview" was with Miami. The next month was in the NFL which diminished the $ amount he was going to be paid anyway. I've thought over the last few years watching coach's come and go around the NCAA that we may not be far off from seeing a "Coach's Union" much like we see "Players Unions" around professional ranks. I know Saban didn't have one when he was at LSU. Does CLM have one?
Re: Coaches' Buy Out clauses Miles’ contract includes a $500,000 buyout clause if he were to leave LSU at any time during the term of the contract.
Since you mentioned Saban, Les Miles' contract is worth $1.25 million annually- Saban’s original LSU contract in 1999 paid him $1.2 million annually as well. At that time, Saban's contract was the “Richest contract” for a college football coach. Just like cingular, he raised the bar. He does have a good business mind. Miles also receives $300,000 a year from the Tiger Athletic Foundation with an additional $50,000 coming from shoe and equipment contracts. His deal also includes an additional $600,000 for radio, television and internet work, and $200,000 per year in deferred compensation- which I have no idea what that is?? Maybe red can splain that one. He will also earn $75,000 if the Tigers play in the Southeastern Conference championship game, and $175,000 if they play in the BCS national title game, but the contract limits additional compensation in any given year to $400,000.
I read that he can earn "Extra compensation based on his team’s academic achievement" but not sure the $$ value. Most of our players either leave early for the NFL or are scholars so not much of a window for big opportunities. :grin:
Red55 can elaborate, but I seem to recall LM's buyout increasing if he left to take the Michigan job.
Les now gets $1.65 milion per year. The deferred compensation is a $1,000,000 annuity that he gets if he stays for the length of the five-year contract. He has a contract clause that ties his salary to those of the highest-paid coaches after the 2007 season: 10 wins in a season means Miles must get at least the fifth-highest salary in the Southeastern Conference, a national championship means he must be at least the third-highest paid coach in college football. Les can earn additional compensation for certain accomplishments achieved by the LSU football team. He will receive $50,000 if he leads LSU to a bowl game, or $100,000 for leading the Tigers to a Bowl Championship Series contest. He will also earn $75,000 if the Tigers play in the Southeastern Conference Championship Game and $175,000 if they play in the BCS National Title game. Under the provisions of the contract, Miles’ additional compensation for any given year may not exceed $400,000. In addition to his on-field accomplishments, Miles will also be rewarded financially for his team’s academic achievement in terms of graduation rates. Some other coaches have unusual provisions: College coaches contracts dotted with extras and provisions
His original contract had a $500,000 buyout and a $1,500,000 buyout if he left for Michigan. I believe the Michigan clause was dropped when he got his raise.
