I keep hearing this coach and that coach have a 10 million or 12 million dollar buy out. What does that mean? Who does that money go to? Is it a penalty that goes to the school losing him or is it money that we are responsible as part of the coach's financial package? In other words......if Coach A has a 10 million dollar buy out and we offer him 4 million a year. Do we have to pay School A 10 million a year plus 4 million a year to the new coach......or is it the 2.5 million that is on his contract with School A that we have to honor and another 1.5 million from us?
Question regarding buy-outs
- Thread starter Huskercigar
- Start date
Are you really that naive? It's all spelled out in the contracts what we owe a coach if we terminate him. We are contractually obligated by the terms of his contract and likewise for his assistants. Diaco I believe signed a 2 year deal worth 900K or whatever so IF he gets canned we owe him that full amount. IF a coach has to pay a school to leave, most hiring schools are going to pick that up as part of the new deal so essentially IF we were to hire Frost we would not only have to pay Riley and his assistants but also Frost AND Central Florida. I've heard it could cost us as much as 15-20 million dollars when it's all said and done to fire Riley and hire Frost.
A
anon_umk0ifu6vj6zi
Guest
We have to pay the buyout to the school we nab someone from to get him out of contract. If Blo Pelini had any other real job offers besides JV ball, we would not have to pay him.
As Dingle said, it depends upon the contract terms. With Pelini he is to receive $150K per month through the remainder of his contract term, less whatever he makes in his new position. Since the Penguins are cheap, we are paying him most of the $150K.
I still wish we would have fired him "with cause". It still pisses me off that we're paying that goober.
Shortly we will be paying 3 goobers if you count SE in the equation.
humble reply, there...or are you just mad that we're gonna be paying these for awhile?
This whole cascade was set off by Tom going cheap by hiring Pelini.(I won't disagree that it was originally set off by firing Frank). IF he had spent a little more for an experienced winner we may not have had any more wins than Pelini got but we probably wouldn't have had to be paying a bunch of people who no longer work for us.
Stop being that idiot. Asking me if I'm really that naïve. You act like its an automatic easy answer and then you go on to answer something other than what I asked. I realize what we owe a coach if we let him go. I also know it is off set by what he earns at his next job. My question is regarding buy outs of a coach that leaves early on his terms. Is that a true buy out penalty? Is that a penalty a coach has to pay if he leaves? What if he retires? Is it only an obligation if he gets hired away? Is it off-set by the hiring of another coach?
In other words if we hire Scott Frost from UCF do we pay 10 million directly to UCF that they use as a profit?
Read his contract. IF Frost has to pay UCF 10 million I can guarantee you that it would come out of the piggy bank of whatever school wants to hire him. It's the way it works. Where in God's name OR WHY would Frost come up with 10M to buy out his contract. It wouldn't happen. In every other case I'm aware of, the hiring school picks up the buyout in one way or another. Florida did when they hired McElwain away from CSU.
I don't think that coaches ever have to personally pay a contract buyout. Sometimes there is a provision that if they leave for another HC job, the new employer must pay a buyout amount. For example, Eichorst forked over $500,000 to OSU to get Mike Riley.
Exactly- my thought at the time was bleed him-- surely Nebraska has a law firm on retainer, just make Pelini spend some of his money on lawyers
FYI, what we owe a school for poaching a coach is not the same as what they would owe for firing said coach, these are figures written into contracts and seldom discussed until it happens (at least in the media) Some coaches have in their contract huge buyouts where if they left the school they owe nothing but if they get fired they are owed vast fortunes (Saban is one of these)
Supposedly in order for Frost to get the job he had to agree to a fairly large buyout if he wants to leave. I haven't seen a reliable source with the number. IF UCF were to fire him this year they would owe him 3 million as per his extension this past spring. Supposedly the poison pill to suitors is a much larger number if HE wants to leave. CSU I think had a $5 million dollar poison pill for McElwain. I've heard numbers as large as 10 million for Frost but haven't seen anything in print. Edit: one internet rag I see lists his buyout to leave as 3 million but I think they're confusing it with the buyout if he's fired. The Orlando Sentinel said 3 million or half of his remaining contract whichever is less IF he's fired.
Last edited:
There's one internet "sports news site" that says that but they use the same formula for that as the Orlando Sentinel reports as the formula if he's fired. The Sentinel doesn't list the buyout if he leaves on his own and I don't imagine that would necessarily be public record since it doesn't cost the university any money. A similar program, CSU, had a 5 M pill for McElwain a number of years ago. It has to be more than that. EDIT: another one says $10M.
Last edited:
Scott Frost if he were to be fired this december would be owed 4.125 million(http://sports.usatoday.com/ncaa/salaries/). so those numbers are not the same which means it is quite possible the rumor of 3m could be correct. I wont speculate or claim to know this as a fact, just simply stating a rumor i had heard.
4.125 M would make a lot more sense but Frost's contract was renewed late this spring. He got a bigger pay check and supposedly a much larger out cost. which I can not find reported by any hard news source. Again, I don't think it has to be public record. Edit: the 4.125 number you're looking at is what the school would have to pay if they were to fire him.
Last edited:
His 2015 contract terms per the MOU had the buyout at $850K. That was half his yearly salary. That buyout was not $850K for each year remaining, but $850K total.
With that said, I have not seen any details from his extension this year.
Edit: Found it. Current contract buyout is half of remaining contracted salary or $3M, whichever is less.
https://projects.newsday.com/college-football-coaches-salaries-contracts/scott-frost/
With that said, I have not seen any details from his extension this year.
Edit: Found it. Current contract buyout is half of remaining contracted salary or $3M, whichever is less.
https://projects.newsday.com/college-football-coaches-salaries-contracts/scott-frost/
Last edited:
That's what the school has to pay him if they fire him. That newsday web site is wrong. They give the same exact formula that the Orlando Sentinel reports for firing him. The OS doesn't report Scott's payout if he wants to leave because it appears it isn't public record. The terms of him wanting out are not reported by an reputable source that I can find but multiple similar net sites put it at roughly 3x Riley's buyout if we fire him. It probably doesn't matter any way IF that's the way Moos and Green want to go but people need to understand that it isn't chump change we're talking about.
