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Coach Steve Forbes Contract Extension
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Flippmb Offline
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Coach Steve Forbes Contract Extension
02-19-2018 04:20 PM
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Flippmb Offline
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RE: Coach Steve Forbes Contract Extension
"The agreement will extend the length of Forbes’ current deal through the 2022-23 season, while elevating his annual base salary to $400,000, his external relations stipend to $50,000, and keeping his yearly retention bonus at $200,000. In addition, Forbes also keeps incentives from his original contract, which includes bonuses for accomplishments such as a conference regular season or tournament championship, NCAA appearances, and wins over major programs.

The new contract also increases Forbes’ buyout to $500,000 if he were to leave the university in the future."
02-19-2018 04:22 PM
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BigIslandBuc Offline
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RE: Coach Steve Forbes Contract Extension
Very pleased. I know that it may not keep Coach Forbes here, but it shows both his and the school's commitment. I actually shouted out loud when I heard the news.[/b]
02-19-2018 05:25 PM
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etsubuc Offline
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RE: Coach Steve Forbes Contract Extension
Increase to $400k base salary really is a game changer in terms of what we have been willing/able to invest in a men's coach. Really it is $650,000 before performance incentives when you take into account the annual stipend and retention bonus.

I like how they specifically put a clause in the contract about receiving compensation from an athletics shoe, apparel, or equipment manufacturer. I bet that will be in most contracts going forward.
02-19-2018 05:35 PM
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Bucfaithful Offline
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RE: Coach Steve Forbes Contract Extension
HELLZ YEAHHHHHHHH!!!!!!!!!!!!
02-19-2018 06:14 PM
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BucDoctor Offline
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RE: Coach Steve Forbes Contract Extension
So the real buyout value of the contract is $400k x 5 years +500K, or at least $2.5 million. If the retention bonus is included, it becomes $3.5 million.
02-19-2018 06:28 PM
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brock20 Offline
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Post: #7
RE: Coach Steve Forbes Contract Extension
(02-19-2018 06:28 PM)BucDoctor Wrote:  So the real buyout value of the contract is $400k x 5 years +500K, or at least $2.5 million. If the retention bonus is included, it becomes $3.5 million.

That is if ETSU decides to get rid of him not the other way around. I could be wrong though.
02-19-2018 06:30 PM
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etsubuc Offline
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RE: Coach Steve Forbes Contract Extension
BucDoctor, I think you are confused about how buyouts work. If ETSU gets rid of Forbes, we owe him the balance of the contract (minus the retention bonus and incentive). If Forbes leaves ETSU, he owes $500,000 within 90 days.
02-19-2018 06:59 PM
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BucDoctor Offline
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RE: Coach Steve Forbes Contract Extension
(02-19-2018 06:59 PM)etsubuc Wrote:  BucDoctor, I think you are confused about how buyouts work. If ETSU gets rid of Forbes, we owe him the balance of the contract (minus the retention bonus and incentive). If Forbes leaves ETSU, he owes $500,000 within 90 days.

I am not confused.
02-19-2018 07:00 PM
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MTBuc Offline
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RE: Coach Steve Forbes Contract Extension
Man I hope this is enough to keep him in JC. Congrats to Scott & co. on putting the deal together. Coach Forbes is a class act and he deserves all of it.
02-19-2018 07:00 PM
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etsuBucsFan1988 Offline
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RE: Coach Steve Forbes Contract Extension
No one can say the ETSU brass aren't trying. Anyone know of a link to coaches salaries. Would like to know how this new salary compares to other mid major programs. He has to be towards the top doesn't he?
02-19-2018 07:14 PM
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etsubuc Offline
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RE: Coach Steve Forbes Contract Extension
(02-19-2018 07:14 PM)etsuBucsFan1988 Wrote:  No one can say the ETSU brass aren't trying. Anyone know of a link to coaches salaries. Would like to know how this new salary compares to other mid major programs. He has to be towards the top doesn't he?

http://sports.usatoday.com/ncaa/salaries...all/coach/

According to this, the contract would put him at in the top 50 nationwide
02-19-2018 07:16 PM
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brock20 Offline
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RE: Coach Steve Forbes Contract Extension
(02-19-2018 07:16 PM)etsubuc Wrote:  
(02-19-2018 07:14 PM)etsuBucsFan1988 Wrote:  No one can say the ETSU brass aren't trying. Anyone know of a link to coaches salaries. Would like to know how this new salary compares to other mid major programs. He has to be towards the top doesn't he?

http://sports.usatoday.com/ncaa/salaries...all/coach/

According to this, the contract would put him at in the top 50 nationwide

That is just coaches that made the tourney last year.
02-19-2018 07:21 PM
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PreacherPurl Offline
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Post: #14
RE: Coach Steve Forbes Contract Extension
(02-19-2018 07:00 PM)BucDoctor Wrote:  
(02-19-2018 06:59 PM)etsubuc Wrote:  BucDoctor, I think you are confused about how buyouts work. If ETSU gets rid of Forbes, we owe him the balance of the contract (minus the retention bonus and incentive). If Forbes leaves ETSU, he owes $500,000 within 90 days.

I am not confused.

Perhaps not confused. But your post is wrong. The retention bonus and stipend is not included in the buyout from either side. If fired without cause E pays base pay of $400k per year plus SS, retirement and insurance for remainder of contract. This is mitigated by amount equal to whatever Forbes makes in other coaching or broadcast job. If Forbes leaves, he pays $500k flat regardless of remaining term. It’s not complicated.
02-19-2018 07:22 PM
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BucDoctor Offline
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RE: Coach Steve Forbes Contract Extension
(02-19-2018 07:22 PM)PreacherPurl Wrote:  
(02-19-2018 07:00 PM)BucDoctor Wrote:  
(02-19-2018 06:59 PM)etsubuc Wrote:  BucDoctor, I think you are confused about how buyouts work. If ETSU gets rid of Forbes, we owe him the balance of the contract (minus the retention bonus and incentive). If Forbes leaves ETSU, he owes $500,000 within 90 days.

I am not confused.

Perhaps not confused. But your post is wrong. The retention bonus and stipend is not included in the buyout from either side. If fired without cause E pays base pay of $400k per year plus SS, retirement and insurance for remainder of contract. This is mitigated by amount equal to whatever Forbes makes in other coaching or broadcast job. If Forbes leaves, he pays $500k flat regardless of remaining term. It’s not complicated.
I trust my source.
02-19-2018 07:31 PM
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PreacherPurl Offline
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RE: Coach Steve Forbes Contract Extension
(02-19-2018 07:31 PM)BucDoctor Wrote:  
(02-19-2018 07:22 PM)PreacherPurl Wrote:  
(02-19-2018 07:00 PM)BucDoctor Wrote:  
(02-19-2018 06:59 PM)etsubuc Wrote:  BucDoctor, I think you are confused about how buyouts work. If ETSU gets rid of Forbes, we owe him the balance of the contract (minus the retention bonus and incentive). If Forbes leaves ETSU, he owes $500,000 within 90 days.

I am not confused.

Perhaps not confused. But your post is wrong. The retention bonus and stipend is not included in the buyout from either side. If fired without cause E pays base pay of $400k per year plus SS, retirement and insurance for remainder of contract. This is mitigated by amount equal to whatever Forbes makes in other coaching or broadcast job. If Forbes leaves, he pays $500k flat regardless of remaining term. It’s not complicated.
I trust my source.

Oh a source!! Can you not read? I’ll trust the actual contract.
02-19-2018 07:36 PM
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bucs77 Offline
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RE: Coach Steve Forbes Contract Extension
02-19-2018 09:38 PM
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BucFan1244 Offline
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RE: Coach Steve Forbes Contract Extension
(02-19-2018 09:38 PM)bucs77 Wrote:  https://www.seccountry.com/mississippi/s...ss-opening

Hopefully this does help some.

Happy to know we are pirates now.
02-19-2018 10:47 PM
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bucs77 Offline
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RE: Coach Steve Forbes Contract Extension
(02-19-2018 06:28 PM)BucDoctor Wrote:  So the real buyout value of the contract is $400k x 5 years +500K, or at least $2.5 million. If the retention bonus is included, it becomes $3.5 million.

So would this be the amount a power 5 type school would have to pay ETSU?
02-20-2018 08:30 AM
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Bucster Offline
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RE: Coach Steve Forbes Contract Extension
(02-19-2018 07:21 PM)brock20 Wrote:  
(02-19-2018 07:16 PM)etsubuc Wrote:  
(02-19-2018 07:14 PM)etsuBucsFan1988 Wrote:  No one can say the ETSU brass aren't trying. Anyone know of a link to coaches salaries. Would like to know how this new salary compares to other mid major programs. He has to be towards the top doesn't he?

http://sports.usatoday.com/ncaa/salaries...all/coach/

According to this, the contract would put him at in the top 50 nationwide

That is just coaches that made the tourney last year.

Eric Musselman of Nevada had a $400,000 salary last year, that's pretty good company. I don't feel like looking it up but I assume Forbes is easily the highest paid coach in the Socon now.
02-20-2018 08:48 AM
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