(12-30-2014 11:59 AM)Chipdip2 Wrote: So if in year three he wins the MAC, and P5s come calling, what does WMU get in return for taking a chance on PJ Fleck? They get about 200k. Chump change in this era of buy outs.
Just trying to understand all of this correctly. From David Drew's article:
According to the contract...Fleck would owe the university $1 million if he terminated his contract before Nov. 30, 2015. The buyout clause decreases by $200,000 if he leaves on or after Dec.1 each year after that through Nov. 30, 2019 – If Fleck terminated his contract between Dec. 1, 2018 and Nov. 30, 2019 he would owe WMU $200,000.
Fleck's original contract required him to pay approximately $210,000 for each year left on the contract. If he would have left after the 2013 season he would have owed WMU $840,000.
Here's how I interpret this:
Under the old contract:
- Buyout after 2013: $840,000
- Buyout after 2014: $630,000
- Buyout after 2015: $420,000
- Buyout after 2016: $210,000
Under the new contract:
- Buyout after 11/30/2015: $800,000
- Buyout after 11/30/2016: $600,000
- Buyout after 11/30/2017: $400,000
- Buyout after 11/30/2018: $200,000
If I'm interpreting this correctly:
- The buyout after the 2015 season increased by $380,000.
- The buyout after the 2016 season increased by $390,000.
- The buyout after the 2017 season is established at $400,000.
Does this sound accurate? If it doesn't, what am I missing?