This may be one of the shortest threads in the history of MT.org, because the first poster may have the answer to the question posed in the thread title.
Pastner's contract is a 5-year deal with automatic renewals after the 2017-18 season. If he had been let go solely because of team performance after the first year of the agreement (say, May 2014), he would have been owed the maximum buyout amount, assuming they weren't going to fire him for team performance before the team ever played a season. That, according to the linked CA article which discloses the specifics of the contract -- obtained by a public records request of the university -- would be "four full seasons' salary."
So, maximum buyout (for team performance) of a 5-year contract = 4 year's salary.
Everyone I've heard, both in the media and on this board, uses a figure of $10M for any potential buyout after the upcoming basketball season, but just from reading the CA article and having a working knowledge of basic math, I can only come up with a figure of $5.3M -- and that's without any negotiation at all. Can someone clear this up for me?
From the Commercial Appeal, May 24, 2013:
"
Pastner's contract is in effect for the next five seasons, through 2017-18. Automatic renewals are included after each of the next two seasons, meaning the deal is structured to extend through 2019-20."
"Dismissing Pastner solely because of the team's performance would be costly for the U of M.
The Tigers would owe Pastner the balance of his contract — as many as four full seasons' salary, if he's dismissed before the date the contract automatically renews — if they wished to part with him."
"Pastner's deal calls for a base salary of $190,000, a $1.1 million portion for radio and television appearances, another $1.1 million portion for public relations and $260,000 for apparel."
http://www.commercialappeal.com/news/pas...on-year-ne
It sounds to me like they're saying:
Buyout after 2013-14 season = four years' salary
After 2014-15 season = three years' salary
After 2015-16 season = two years' salary
After 2016-17 season = one year's salary
After 2017-18 season but before the automatic renewal date = Zero
If the automatic renewals were to be considered as already having occurred, it seems he could have been owed as many as six full seasons' salary, not "as many as four full seasons' salary" as stated in the article.
My apologies, in advance, for those who only want to see football threads until November!