(02-05-2016 09:11 AM)kabluey Wrote:  

(02-05-2016 01:28 AM)tigers311 Wrote:  

(02-05-2016 01:22 AM)450bench Wrote:  He'll be gone at the end of the year.

He needs to be gone in the morning.

I worry buying out now will kill football progress and hopes for a P5 conference along the way.

UNTIL we get a p5, it IS either a) 10 mill for a bball buyout (/or X mill for new coach) OR b) an overachieving football program on an outside-top-50 budget.

I prefer b, I think that enhances p5 chances more.

I therefore think a is irresponsible.

IF YOU HAVE 10 MILL (or 3-5) GIVE IT TO FOOTBALL OR RESEARCH TO IMPROVE TOWARDS AAU AND P5 ADMISSION.

Wait till the buyout lowers, then flush that down the bball buyout toilet.

With the rescission of charter jet travel, I trust this administration has p5 priorities.

Stay away from pawn shops and car loans, people.

You don't just let one of the main 2 revenue sports die while trying to get into a conference that is is the best at that sport. His buyout is worth an Archie Miller anyday.

(02-05-2016 09:43 AM)MemphisCanes Wrote:  My guess is that the school and coach negotiate a "lump sum" payment perhaps in order to send Pastner on his way. I think that only about 5 million of the remaining contract is collectible, if a Court were to rule on it.

Either that, or the school helps leverage Pastner into a new coaching gig elsewhere. The contract principal of mitigation would mean that the school could credit Pastner's new salary against what the school owes him. I.e. Pastner gets a lesser gig making $800k a year at lesser school; Memphis gets to credit the $800 per year against the $2.6 mil per year that we owe him, and only pay him $1.8 mil.

Yep.

(02-05-2016 09:43 AM)MemphisCanes Wrote:  My guess is that the school and coach negotiate a "lump sum" payment perhaps in order to send Pastner on his way. I think that only about 5 million of the remaining contract is collectible, if a Court were to rule on it.

Either that, or the school helps leverage Pastner into a new coaching gig elsewhere. The contract principal of mitigation would mean that the school could credit Pastner's new salary against what the school owes him. I.e. Pastner gets a lesser gig making $800k a year at lesser school; Memphis gets to credit the $800 per year against the $2.6 mil per year that we owe him, and only pay him $1.8 mil.

Can you expound on the "5MM collectible" part?

(02-05-2016 10:19 AM)Titans3775 Wrote:  

(02-05-2016 09:11 AM)kabluey Wrote:  

(02-05-2016 01:28 AM)tigers311 Wrote:  

(02-05-2016 01:22 AM)450bench Wrote:  He'll be gone at the end of the year.

He needs to be gone in the morning.

I worry buying out now will kill football progress and hopes for a P5 conference along the way.

UNTIL we get a p5, it IS either a) 10 mill for a bball buyout (/or X mill for new coach) OR b) an overachieving football program on an outside-top-50 budget.

I prefer b, I think that enhances p5 chances more.

I therefore think a is irresponsible.

IF YOU HAVE 10 MILL (or 3-5) GIVE IT TO FOOTBALL OR RESEARCH TO IMPROVE TOWARDS AAU AND P5 ADMISSION.

Wait till the buyout lowers, then flush that down the bball buyout toilet.

With the rescission of charter jet travel, I trust this administration has p5 priorities.

Stay away from pawn shops and car loans, people.

You don't just let one of the main 2 revenue sports die while trying to get into a conference that is is the best at that sport. His buyout is worth an Archie Miller anyday.

Is Archie a done deal, set in stone guarantee? I think it will be a riskier, much lesser coach with more questions around his ability. Or Penny pro bono. But bball 1) wont die, and 2) is far more easily resurrected than football is to create. If we have to risk one (and I think it's clear we do)...

Can't do both, I dont think. I'd love to. I'd love a fantasy world of unlimited resources. But we aren't alchemists, unless our funding toward chemistry and physics has exploded, lol. Hmmm.

(02-05-2016 10:26 AM)tiger2000 Wrote:  

(02-05-2016 09:43 AM)MemphisCanes Wrote:  My guess is that the school and coach negotiate a "lump sum" payment perhaps in order to send Pastner on his way. I think that only about 5 million of the remaining contract is collectible, if a Court were to rule on it.

Either that, or the school helps leverage Pastner into a new coaching gig elsewhere. The contract principal of mitigation would mean that the school could credit Pastner's new salary against what the school owes him. I.e. Pastner gets a lesser gig making $800k a year at lesser school; Memphis gets to credit the $800 per year against the $2.6 mil per year that we owe him, and only pay him $1.8 mil.

Can you expound on the "5MM collectible" part?

As far as I can tell, since this is not technically a buyout, Pastner has the duty to go out and find another job if he is fired (i.e. he must mitigate his damages).

Just spitballing, but I'm guessing it's reasonable for him to find another job making $800,000 per year in coaching. That means instead of the 2.6 mill. we owe him, we may only owe him 1.8 mill. 1.8 mill. over 4 years is 7.2 mill.

That's a bit off from the 5 mill that I mentioned earlier, but if Pastner is able to find another HC gig at $1,000,000 per year, then you can see how this cuts that amount down even farther.

It all depends on what a "reasonable salary" is for Pastner going forward.

(02-05-2016 11:09 AM)MemphisCanes Wrote:  

(02-05-2016 10:26 AM)tiger2000 Wrote:  

(02-05-2016 09:43 AM)MemphisCanes Wrote:  My guess is that the school and coach negotiate a "lump sum" payment perhaps in order to send Pastner on his way. I think that only about 5 million of the remaining contract is collectible, if a Court were to rule on it.

Either that, or the school helps leverage Pastner into a new coaching gig elsewhere. The contract principal of mitigation would mean that the school could credit Pastner's new salary against what the school owes him. I.e. Pastner gets a lesser gig making $800k a year at lesser school; Memphis gets to credit the $800 per year against the $2.6 mil per year that we owe him, and only pay him $1.8 mil.

Can you expound on the "5MM collectible" part?

As far as I can tell, since this is not technically a buyout, Pastner has the duty to go out and find another job if he is fired (i.e. he must mitigate his damages).

Just spitballing, but I'm guessing it's reasonable for him to find another job making $800,000 per year in coaching. That means instead of the 2.6 mill. we owe him, we may only owe him 1.8 mill. 1.8 mill. over 4 years is 7.2 mill.

That's a bit off from the 5 mill that I mentioned earlier, but if Pastner is able to find another HC gig at $1,000,000 per year, then you can see how this cuts that amount down even farther.

It all depends on what a "reasonable salary" is for Pastner going forward.

Such as $60k as a high school coach?

(02-05-2016 11:11 AM)DDrum1961 Wrote:  

(02-05-2016 11:09 AM)MemphisCanes Wrote:  

(02-05-2016 10:26 AM)tiger2000 Wrote:  

(02-05-2016 09:43 AM)MemphisCanes Wrote:  My guess is that the school and coach negotiate a "lump sum" payment perhaps in order to send Pastner on his way. I think that only about 5 million of the remaining contract is collectible, if a Court were to rule on it.

Either that, or the school helps leverage Pastner into a new coaching gig elsewhere. The contract principal of mitigation would mean that the school could credit Pastner's new salary against what the school owes him. I.e. Pastner gets a lesser gig making $800k a year at lesser school; Memphis gets to credit the $800 per year against the $2.6 mil per year that we owe him, and only pay him $1.8 mil.

Can you expound on the "5MM collectible" part?

As far as I can tell, since this is not technically a buyout, Pastner has the duty to go out and find another job if he is fired (i.e. he must mitigate his damages).

Just spitballing, but I'm guessing it's reasonable for him to find another job making $800,000 per year in coaching. That means instead of the 2.6 mill. we owe him, we may only owe him 1.8 mill. 1.8 mill. over 4 years is 7.2 mill.

That's a bit off from the 5 mill that I mentioned earlier, but if Pastner is able to find another HC gig at $1,000,000 per year, then you can see how this cuts that amount down even farther.

It all depends on what a "reasonable salary" is for Pastner going forward.

Such as $60k as a high school coach?

Is that the best he can do?

(02-05-2016 11:09 AM)MemphisCanes Wrote:  

(02-05-2016 10:26 AM)tiger2000 Wrote:  

(02-05-2016 09:43 AM)MemphisCanes Wrote:  My guess is that the school and coach negotiate a "lump sum" payment perhaps in order to send Pastner on his way. I think that only about 5 million of the remaining contract is collectible, if a Court were to rule on it.

Either that, or the school helps leverage Pastner into a new coaching gig elsewhere. The contract principal of mitigation would mean that the school could credit Pastner's new salary against what the school owes him. I.e. Pastner gets a lesser gig making $800k a year at lesser school; Memphis gets to credit the $800 per year against the $2.6 mil per year that we owe him, and only pay him $1.8 mil.

Can you expound on the "5MM collectible" part?

As far as I can tell, since this is not technically a buyout, Pastner has the duty to go out and find another job if he is fired (i.e. he must mitigate his damages).

Just spitballing, but I'm guessing it's reasonable for him to find another job making $800,000 per year in coaching. That means instead of the 2.6 mill. we owe him, we may only owe him 1.8 mill. 1.8 mill. over 4 years is 7.2 mill.

That's a bit off from the 5 mill that I mentioned earlier, but if Pastner is able to find another HC gig at $1,000,000 per year, then you can see how this cuts that amount down even farther.

It all depends on what a "reasonable salary" is for Pastner going forward.

I don't think so. I just read the contract three times.

The five year maximum is there. The last dated roll-over guarantees his contract through April 7, 2020. He is now in the official category of being extended month to month past that date unless either party gives 30 days notice. So the length of the contract obligation from the university is not less than four years if fired and not more than five years if retained in the first two years of the contract. It does not say, the way I read it that it is a rolling five year contract. The contract can be renegotiated at this point for extensions but not for dismissal.

If we send him a a pink slip on March 6 we will owe him these amounts through April 7, 2020:

$ 190,000 Salary times four = $ 760,000
$1,100,000 Radio/TV times four = $4,400,000
$1,1000,000 PR Times four = $4,400,000
$ 260,000 Shoe/Apparel x four = $1,040,000

That's $2,650,000 x 4 = $10,600,000. This amount is to be paid monthly until the obligation is retired. That would be $220,833 and change per month for 48 months.

The contract expressly states the amounts and terms have been negotiated specific to agreed upon terms of dismissal. If Josh leaves he owes the University $500,000. there does not appear to be any allowance for him ever coaching again or reducing the payout if he does coach again.

I guess if he and his agent decide to be good guys and ask for a lump sum...maybe...but don't hold your breath.

I woke up this morning and he hasn't been fired. Fail.

(02-05-2016 11:09 AM)MemphisCanes Wrote:  

(02-05-2016 10:26 AM)tiger2000 Wrote:  

(02-05-2016 09:43 AM)MemphisCanes Wrote:  My guess is that the school and coach negotiate a "lump sum" payment perhaps in order to send Pastner on his way. I think that only about 5 million of the remaining contract is collectible, if a Court were to rule on it.

Either that, or the school helps leverage Pastner into a new coaching gig elsewhere. The contract principal of mitigation would mean that the school could credit Pastner's new salary against what the school owes him. I.e. Pastner gets a lesser gig making $800k a year at lesser school; Memphis gets to credit the $800 per year against the $2.6 mil per year that we owe him, and only pay him $1.8 mil.

Can you expound on the "5MM collectible" part?

As far as I can tell, since this is not technically a buyout, Pastner has the duty to go out and find another job if he is fired (i.e. he must mitigate his damages).

Just spitballing, but I'm guessing it's reasonable for him to find another job making $800,000 per year in coaching. That means instead of the 2.6 mill. we owe him, we may only owe him 1.8 mill. 1.8 mill. over 4 years is 7.2 mill.

That's a bit off from the 5 mill that I mentioned earlier, but if Pastner is able to find another HC gig at $1,000,000 per year, then you can see how this cuts that amount down even farther.

It all depends on what a "reasonable salary" is for Pastner going forward.

Im curious what the language counts as mitigation? Many coaches take ESPn jobs, and I sense that doesnt count for them, that it has to be "in the profession." Maybe it does, though...

(02-05-2016 11:20 AM)Tigerx3 Wrote:  I don't think so. I just read the contract three times.

The five year maximum is there. The last dated roll-over guarantees his contract through April 7, 2020. He is now in the official category of being extended month to month past that date unless either party gives 30 days notice. So the length of the contract obligation from the university is not less than four years if fired and not more than five years if retained in the first two years of the contract. It does not say, the way I read it that it is a rolling five year contract. The contract can be renegotiated at this point for extensions but not for dismissal.

If we send him a a pink slip on March 6 we will owe him these amounts through April 7, 2020:

$ 190,000 Salary times four = $ 760,000
$1,100,000 Radio/TV times four = $4,400,000
$1,1000,000 PR Times four = $4,400,000
$ 260,000 Shoe/Apparel x four = $1,040,000

That's $2,650,000 x 4 = $10,600,000. This amount is to be paid monthly until the obligation is retired. That would be $220,833 and change per month for 48 months.

The contract expressly states the amounts and terms have been negotiated specific to agreed upon terms of dismissal. If Josh leaves he owes the University $500,000. there does not appear to be any allowance for him ever coaching again or reducing the payout if he does coach again.

I guess if he and his agent decide to be good guys and ask for a lump sum...maybe...but don't hold your breath.

There is a "common law" argument to be made that he has a duty to mitigate his damages even if there is no language in the contract explicitly requiring him to do so.

There is also a concern that this common law duty does not apply because these amounts are explicitly deemed "liquidated damages" in this contract and someone seeking liquidated damages does not have the duty to mitigate in many states.

Where I am right now is that I cannot say if Tennessee is one of those states or not, that would take hours of research for which I am not getting paid.

I do know that Derek Dooley's contract contained an actual liquidated damages "buyout" provision, had no specific language regarding mitigation (either way) and UTK was not able to credit his salary with the Dallas Cowboys against the amount that they had to pay him.

(02-05-2016 11:20 AM)Tigerx3 Wrote:  

(02-05-2016 11:09 AM)MemphisCanes Wrote:  

(02-05-2016 10:26 AM)tiger2000 Wrote:  

(02-05-2016 09:43 AM)MemphisCanes Wrote:  My guess is that the school and coach negotiate a "lump sum" payment perhaps in order to send Pastner on his way. I think that only about 5 million of the remaining contract is collectible, if a Court were to rule on it.

Either that, or the school helps leverage Pastner into a new coaching gig elsewhere. The contract principal of mitigation would mean that the school could credit Pastner's new salary against what the school owes him. I.e. Pastner gets a lesser gig making $800k a year at lesser school; Memphis gets to credit the $800 per year against the $2.6 mil per year that we owe him, and only pay him $1.8 mil.

Can you expound on the "5MM collectible" part?

As far as I can tell, since this is not technically a buyout, Pastner has the duty to go out and find another job if he is fired (i.e. he must mitigate his damages).

Just spitballing, but I'm guessing it's reasonable for him to find another job making $800,000 per year in coaching. That means instead of the 2.6 mill. we owe him, we may only owe him 1.8 mill. 1.8 mill. over 4 years is 7.2 mill.

That's a bit off from the 5 mill that I mentioned earlier, but if Pastner is able to find another HC gig at $1,000,000 per year, then you can see how this cuts that amount down even farther.

It all depends on what a "reasonable salary" is for Pastner going forward.

I don't think so. I just read the contract three times.

The five year maximum is there. The last dated roll-over guarantees his contract through April 7, 2020. He is now in the official category of being extended month to month past that date unless either party gives 30 days notice. So the length of the contract obligation from the university is not less than four years if fired and not more than five years if retained in the first two years of the contract. It does not say, the way I read it that it is a rolling five year contract. The contract can be renegotiated at this point for extensions but not for dismissal.

If we send him a a pink slip on March 6 we will owe him these amounts through April 7, 2020:

$ 190,000 Salary times four = $ 760,000
$1,100,000 Radio/TV times four = $4,400,000
$1,1000,000 PR Times four = $4,400,000
$ 260,000 Shoe/Apparel x four = $1,040,000

That's $2,650,000 x 4 = $10,600,000. This amount is to be paid monthly until the obligation is retired. That would be $220,833 and change per month for 48 months.

The contract expressly states the amounts and terms have been negotiated specific to agreed upon terms of dismissal. If Josh leaves he owes the University $500,000. there does not appear to be any allowance for him ever coaching again or reducing the payout if he does coach again.

I guess if he and his agent decide to be good guys and ask for a lump sum...maybe...but don't hold your breath.

I think from another thread memphiscanes is making some implications/inferences (probably not the correct term as I'm not a lawyer but did stay in a holiday inn express once) based upon the application of TN contract law to the contract.

(02-05-2016 12:02 PM)MemphisCanes Wrote:  

(02-05-2016 11:20 AM)Tigerx3 Wrote:  I don't think so. I just read the contract three times.

The five year maximum is there. The last dated roll-over guarantees his contract through April 7, 2020. He is now in the official category of being extended month to month past that date unless either party gives 30 days notice. So the length of the contract obligation from the university is not less than four years if fired and not more than five years if retained in the first two years of the contract. It does not say, the way I read it that it is a rolling five year contract. The contract can be renegotiated at this point for extensions but not for dismissal.

If we send him a a pink slip on March 6 we will owe him these amounts through April 7, 2020:

$ 190,000 Salary times four = $ 760,000
$1,100,000 Radio/TV times four = $4,400,000
$1,1000,000 PR Times four = $4,400,000
$ 260,000 Shoe/Apparel x four = $1,040,000

That's $2,650,000 x 4 = $10,600,000. This amount is to be paid monthly until the obligation is retired. That would be $220,833 and change per month for 48 months.

The contract expressly states the amounts and terms have been negotiated specific to agreed upon terms of dismissal. If Josh leaves he owes the University $500,000. there does not appear to be any allowance for him ever coaching again or reducing the payout if he does coach again.

I guess if he and his agent decide to be good guys and ask for a lump sum...maybe...but don't hold your breath.

There is a "common law" argument to be made that he has a duty to mitigate his damages even if there is no language in the contract explicitly requiring him to do so.

There is also a concern that this common law duty does not apply because these amounts are explicitly deemed "liquidated damages" in this contract and someone seeking liquidated damages does not have the duty to mitigate in many states.

Where I am right now is that I cannot say if Tennessee is one of those states or not, that would take hours of research for which I am not getting paid.

I do know that Derek Dooley's contract contained an actual liquidated damages "buyout" provision, had no specific language regarding mitigation (either way) and UTK was not able to credit his salary with the Dallas Cowboys against the amount that they had to pay him.

Bill it to jammamy's account.

(02-05-2016 12:05 PM)tiger2000 Wrote:  

(02-05-2016 11:20 AM)Tigerx3 Wrote:  

(02-05-2016 11:09 AM)MemphisCanes Wrote:  

(02-05-2016 10:26 AM)tiger2000 Wrote:  

(02-05-2016 09:43 AM)MemphisCanes Wrote:  My guess is that the school and coach negotiate a "lump sum" payment perhaps in order to send Pastner on his way. I think that only about 5 million of the remaining contract is collectible, if a Court were to rule on it.

Either that, or the school helps leverage Pastner into a new coaching gig elsewhere. The contract principal of mitigation would mean that the school could credit Pastner's new salary against what the school owes him. I.e. Pastner gets a lesser gig making $800k a year at lesser school; Memphis gets to credit the $800 per year against the $2.6 mil per year that we owe him, and only pay him $1.8 mil.

Can you expound on the "5MM collectible" part?

As far as I can tell, since this is not technically a buyout, Pastner has the duty to go out and find another job if he is fired (i.e. he must mitigate his damages).

Just spitballing, but I'm guessing it's reasonable for him to find another job making $800,000 per year in coaching. That means instead of the 2.6 mill. we owe him, we may only owe him 1.8 mill. 1.8 mill. over 4 years is 7.2 mill.

That's a bit off from the 5 mill that I mentioned earlier, but if Pastner is able to find another HC gig at $1,000,000 per year, then you can see how this cuts that amount down even farther.

It all depends on what a "reasonable salary" is for Pastner going forward.

I don't think so. I just read the contract three times.

The five year maximum is there. The last dated roll-over guarantees his contract through April 7, 2020. He is now in the official category of being extended month to month past that date unless either party gives 30 days notice. So the length of the contract obligation from the university is not less than four years if fired and not more than five years if retained in the first two years of the contract. It does not say, the way I read it that it is a rolling five year contract. The contract can be renegotiated at this point for extensions but not for dismissal.

If we send him a a pink slip on March 6 we will owe him these amounts through April 7, 2020:

$ 190,000 Salary times four = $ 760,000
$1,100,000 Radio/TV times four = $4,400,000
$1,1000,000 PR Times four = $4,400,000
$ 260,000 Shoe/Apparel x four = $1,040,000

That's $2,650,000 x 4 = $10,600,000. This amount is to be paid monthly until the obligation is retired. That would be $220,833 and change per month for 48 months.

The contract expressly states the amounts and terms have been negotiated specific to agreed upon terms of dismissal. If Josh leaves he owes the University $500,000. there does not appear to be any allowance for him ever coaching again or reducing the payout if he does coach again.

I guess if he and his agent decide to be good guys and ask for a lump sum...maybe...but don't hold your breath.

I think from another thread memphiscanes is making some implications/inferences (probably not the correct term as I'm not a lawyer but did stay in a holiday inn express once) based upon the application of TN contract law to the contract.

Is there anything in the contract that would keep him from being reassigned within the athletic department?

(02-05-2016 12:11 PM)pmantiger Wrote:  

(02-05-2016 12:05 PM)tiger2000 Wrote:  

(02-05-2016 11:20 AM)Tigerx3 Wrote:  

(02-05-2016 11:09 AM)MemphisCanes Wrote:  

(02-05-2016 10:26 AM)tiger2000 Wrote:  Can you expound on the "5MM collectible" part?

As far as I can tell, since this is not technically a buyout, Pastner has the duty to go out and find another job if he is fired (i.e. he must mitigate his damages).

Just spitballing, but I'm guessing it's reasonable for him to find another job making $800,000 per year in coaching. That means instead of the 2.6 mill. we owe him, we may only owe him 1.8 mill. 1.8 mill. over 4 years is 7.2 mill.

That's a bit off from the 5 mill that I mentioned earlier, but if Pastner is able to find another HC gig at $1,000,000 per year, then you can see how this cuts that amount down even farther.

It all depends on what a "reasonable salary" is for Pastner going forward.

I don't think so. I just read the contract three times.

The five year maximum is there. The last dated roll-over guarantees his contract through April 7, 2020. He is now in the official category of being extended month to month past that date unless either party gives 30 days notice. So the length of the contract obligation from the university is not less than four years if fired and not more than five years if retained in the first two years of the contract. It does not say, the way I read it that it is a rolling five year contract. The contract can be renegotiated at this point for extensions but not for dismissal.

If we send him a a pink slip on March 6 we will owe him these amounts through April 7, 2020:

$ 190,000 Salary times four = $ 760,000
$1,100,000 Radio/TV times four = $4,400,000
$1,1000,000 PR Times four = $4,400,000
$ 260,000 Shoe/Apparel x four = $1,040,000

That's $2,650,000 x 4 = $10,600,000. This amount is to be paid monthly until the obligation is retired. That would be $220,833 and change per month for 48 months.

The contract expressly states the amounts and terms have been negotiated specific to agreed upon terms of dismissal. If Josh leaves he owes the University $500,000. there does not appear to be any allowance for him ever coaching again or reducing the payout if he does coach again.

I guess if he and his agent decide to be good guys and ask for a lump sum...maybe...but don't hold your breath.

I think from another thread memphiscanes is making some implications/inferences (probably not the correct term as I'm not a lawyer but did stay in a holiday inn express once) based upon the application of TN contract law to the contract.

Is there anything in the contract that would keep him from being reassigned within the athletic department?

The contract is for his duties as a head coach at the university of Memphis (and media appearances, etc). I would think that if you assigned him to normal station latrine duties that his lawyers could argue that Memphis was in breach.

Additionally there is the intangible impact of trying to snag a new HC while you hung a fellow member of the coaching fraternity out to dry.

(02-05-2016 11:20 AM)Tigerx3 Wrote:  

(02-05-2016 11:09 AM)MemphisCanes Wrote:  

(02-05-2016 10:26 AM)tiger2000 Wrote:  

(02-05-2016 09:43 AM)MemphisCanes Wrote:  My guess is that the school and coach negotiate a "lump sum" payment perhaps in order to send Pastner on his way. I think that only about 5 million of the remaining contract is collectible, if a Court were to rule on it.

Either that, or the school helps leverage Pastner into a new coaching gig elsewhere. The contract principal of mitigation would mean that the school could credit Pastner's new salary against what the school owes him. I.e. Pastner gets a lesser gig making $800k a year at lesser school; Memphis gets to credit the $800 per year against the $2.6 mil per year that we owe him, and only pay him $1.8 mil.

Can you expound on the "5MM collectible" part?

As far as I can tell, since this is not technically a buyout, Pastner has the duty to go out and find another job if he is fired (i.e. he must mitigate his damages).

Just spitballing, but I'm guessing it's reasonable for him to find another job making $800,000 per year in coaching. That means instead of the 2.6 mill. we owe him, we may only owe him 1.8 mill. 1.8 mill. over 4 years is 7.2 mill.

That's a bit off from the 5 mill that I mentioned earlier, but if Pastner is able to find another HC gig at $1,000,000 per year, then you can see how this cuts that amount down even farther.

It all depends on what a "reasonable salary" is for Pastner going forward.

I don't think so. I just read the contract three times.

The five year maximum is there. The last dated roll-over guarantees his contract through April 7, 2020. He is now in the official category of being extended month to month past that date unless either party gives 30 days notice. So the length of the contract obligation from the university is not less than four years if fired and not more than five years if retained in the first two years of the contract. It does not say, the way I read it that it is a rolling five year contract. The contract can be renegotiated at this point for extensions but not for dismissal.

If we send him a a pink slip on March 6 we will owe him these amounts through April 7, 2020:

$ 190,000 Salary times four = $ 760,000
$1,100,000 Radio/TV times four = $4,400,000
$1,1000,000 PR Times four = $4,400,000
$ 260,000 Shoe/Apparel x four = $1,040,000

That's $2,650,000 x 4 = $10,600,000. This amount is to be paid monthly until the obligation is retired. That would be $220,833 and change per month for 48 months.

The contract expressly states the amounts and terms have been negotiated specific to agreed upon terms of dismissal. If Josh leaves he owes the University $500,000. there does not appear to be any allowance for him ever coaching again or reducing the payout if he does coach again.

I guess if he and his agent decide to be good guys and ask for a lump sum...maybe...but don't hold your breath.

Wait i thought CJP was a good guy!!

Let's not create irrationally false choices to determine whether someone meets our self-serving definition of what a "good guy" would do. His life doesnt have to revolve around what iur lives revilve around in order to be a "good guy", and, in fact he's proven that he's a good guy regardless of this terrible contract.

Whether he's a good guy shouldnt keep him in this job, and whether he does what we negotiated to allow him to do does not make him a bad guy.

Just spare me the ethical extrapolations imputed upon him for things that have nothing to do with ethics, only to do with fans demonstrating their petulance and entitlement.

I do get the frustration over the situation and resentment toward the Ath Dept (ie Wren Baker) & fellow fans (including looking ourselves in the mirror) for having poor judgment on supporting a coach that couldnt develop himself, much less top NBA potential recruiting classes.

(02-05-2016 12:32 PM)kabluey Wrote:  Let's not create irrationally false choices to determine whether someone meets our self-serving definition of what a "good guy" would do. His life doesnt have to revolve around what iur lives revilve around in order to be a "good guy", and, in fact he's proven that he's a good guy regardless of this terrible contract.

Whether he's a good guy shouldnt keep him in this job, and whether he does what we negotiated to allow him to do does not make him a bad guy.

^^^^^^^^^

(02-05-2016 12:08 PM)tiger2000 Wrote:  

(02-05-2016 12:02 PM)MemphisCanes Wrote:  

(02-05-2016 11:20 AM)Tigerx3 Wrote:  I don't think so. I just read the contract three times.

The five year maximum is there. The last dated roll-over guarantees his contract through April 7, 2020. He is now in the official category of being extended month to month past that date unless either party gives 30 days notice. So the length of the contract obligation from the university is not less than four years if fired and not more than five years if retained in the first two years of the contract. It does not say, the way I read it that it is a rolling five year contract. The contract can be renegotiated at this point for extensions but not for dismissal.

If we send him a a pink slip on March 6 we will owe him these amounts through April 7, 2020:

$ 190,000 Salary times four = $ 760,000
$1,100,000 Radio/TV times four = $4,400,000
$1,1000,000 PR Times four = $4,400,000
$ 260,000 Shoe/Apparel x four = $1,040,000

That's $2,650,000 x 4 = $10,600,000. This amount is to be paid monthly until the obligation is retired. That would be $220,833 and change per month for 48 months.

The contract expressly states the amounts and terms have been negotiated specific to agreed upon terms of dismissal. If Josh leaves he owes the University $500,000. there does not appear to be any allowance for him ever coaching again or reducing the payout if he does coach again.

I guess if he and his agent decide to be good guys and ask for a lump sum...maybe...but don't hold your breath.

There is a "common law" argument to be made that he has a duty to mitigate his damages even if there is no language in the contract explicitly requiring him to do so.

There is also a concern that this common law duty does not apply because these amounts are explicitly deemed "liquidated damages" in this contract and someone seeking liquidated damages does not have the duty to mitigate in many states.

Where I am right now is that I cannot say if Tennessee is one of those states or not, that would take hours of research for which I am not getting paid.

I do know that Derek Dooley's contract contained an actual liquidated damages "buyout" provision, had no specific language regarding mitigation (either way) and UTK was not able to credit his salary with the Dallas Cowboys against the amount that they had to pay him.

Bill it to jammamy's account.

I don't take payment in blunt roaches.

(02-05-2016 12:32 PM)kabluey Wrote:  Let's not create irrationally false choices to determine whether someone meets our self-serving definition of what a "good guy" would do. His life doesnt have to revolve around what iur lives revilve around in order to be a "good guy", and, in fact he's proven that he's a good guy regardless of this terrible contract.

Whether he's a good guy shouldnt keep him in this job, and whether he does what we negotiated to allow him to do does not make him a bad guy.

Just spare me the ethical extrapolations imputed upon him for things that have nothing to do with ethics, only to do with fans demonstrating their petulance and entitlement.

I do get the frustration over the situation and resentment toward the Ath Dept (ie Wren Baker) & fellow fans (including looking ourselves in the mirror) for having poor judgment on supporting a coach that couldn't develop himself, much less top NBA potential recruiting classes.

Panties in a wad much?
My Good Guy comment was strictly tongue-in-check about people who make ridiculous assertions of him accepting less than his contract.

I am and will always count Josh as a friend and I admire him as a good person and family man. I have in many occasions been in situations to make decisions about dismissals. None have been easy. Some have been tragic and painful. Josh is one of the painful an unfortunate but unavoidable cases.