a lawyer would need to read the offset language (or lack thereof)
That's not true. Offset language is fairly common.Anyone who agrees to offset language is a moron. Plain and simple.
What you’d get from another school has literally zero to do with what you are currently owed through a current contract.
If we are willing to pay 10mil to get rid of him, what college program in your mind would pay 2mil a year to hire him?if Ollie gets another job somewhere making $2m, do we pay the full buyout amount or do we pay the difference? If we pay the full amount, wouldn’t every coach want to get fired?
7 million, after we pay him 3 million for another year of goodness.What does the buyout drop to after next season?
That's not true. Offset language is fairly common.
That's not true. Offset language is fairly common.
It was a hypothetical question dude. Make it $200k, is that better?If we are willing to pay 10mil to get rid of him, what college program in your mind would pay 2mil a year to hire him?
I don’t recall seeing any offset provision in the contract.
What does the buyout drop to after next season?
I believe I read that he would get $600,000 if he were fired after May 1st of 2019. Anything prior to that and he would get the remainder of the money left on his contract.
I believe I read that he would get $600,000 if he were fired after May 1st of 2019. Anything prior to that and he would get the remainder of the money left on his contract. If that is in fact the case, and there is a $9.4 million difference (plus whatever the new coach would get paid) between firing him now and firing him in 14 months, I can very easily see him coaching at UConn for another year regardless of how far the program has fallen. If, as previously suggested, he is always owed the remainder of his contract regardless of when he is fired, the difference between firing him now and firing him next year would only be $3 million, and firing him this year would be a much more likely scenario.
That is not correct. He is owed the remainder of compensation under the contract at the point of termination.
Unless the contract says otherwise. As others have said, I don't remember an offset provision in KO's contract.That just means there's a lot of morons.
A contract between A and C has literally nothing to do with the current agreement between A and B.
Unless the contract says otherwise. As others have said, I don't remember an offset provision in KO's contract.
The contract can be found here:
Auriemma, Ollie sign extensions with UConn. Read them in their entirety here
Section 3.3 of Ollie's contract deals with termination. It looks to me like the full amount vests if he is terminated prior to May 1, 2019. It isn't really clear what happens after that date.
Check Section 10.2. View attachment 29233
The university should be able to drive a truck through 10.1(d). If there is a settlement, it is because of that provision.I'm pretty interested in the language of 10.1(d)
The university should be able to drive a truck through 10.1(d). If there is a settlement, it is because of that provision.