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Full Version: Hudspeth Signs a New Deal
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Hudspeth has signed his new contract extension. His current deal was paying him $755k plus incentives and was set to expire in 2016. This extension will extend his contract through the 2019 season. The numbers have not been released yet as it still has to be signed by the university and sent up for state board of approval.
Hudspeth is a good coach. Hold on to him as long as possible. Nice little write up on Hudspeth and ULL here: I had to scroll down a few lines:http://g5conferencenews.blogspot.com/
So thankful WKU does not have to go thru any state board on coaches contracts.We have enough trouble with the state as is.May not be a big deal for the Cajuns but one less hoop we have to jump thru.
(05-09-2014 12:00 PM)TOPSTRAIGHT Wrote: [ -> ]So thankful WKU does not have to go thru any state board on coaches contracts.We have enough trouble with the state as is.May not be a big deal for the Cajuns but one less hoop we have to jump thru.

Same here, if we had to go through a state board, we'd probably never be able to hire a coach.
(05-09-2014 12:00 PM)TOPSTRAIGHT Wrote: [ -> ]So thankful WKU does not have to go thru any state board on coaches contracts.We have enough trouble with the state as is.May not be a big deal for the Cajuns but one less hoop we have to jump thru.

Just one of the shackles we have to deal with.
We only have to deal with our five member board of trustees.
(05-10-2014 08:02 AM)arkstfan Wrote: [ -> ]We only have to deal with our five member board of trustees.

The approval that Geaux is referring to is a rubber stamp deal. The only time it would ever be turned down is if there are no funds in place to pay for it. Since we all know that; the proposal never gets there unless we have the money in hand to pay for it. This may mean escrowing enough funds to pay the maximum possible total cost of the contract, but if that is done, the deal will be approved.

It is a hurdle, but not if the school is able to pay the contract.
(05-10-2014 09:38 AM)Vobserver Wrote: [ -> ]
(05-10-2014 08:02 AM)arkstfan Wrote: [ -> ]We only have to deal with our five member board of trustees.

The approval that Geaux is referring to is a rubber stamp deal. The only time it would ever be turned down is if there are no funds in place to pay for it. Since we all know that; the proposal never gets there unless we have the money in hand to pay for it. This may mean escrowing enough funds to pay the maximum possible total cost of the contract, but if that is done, the deal will be approved.

It is a hurdle, but not if the school is able to pay the contract.

So it waits to the next regular meeting, president says please approve, here is how we are paying, the board then moves on to the next order of business?

No big whoop I'd say unless there were something that needed ASAP approval which doesn't happen often.
(05-10-2014 11:03 AM)arkstfan Wrote: [ -> ]
(05-10-2014 09:38 AM)Vobserver Wrote: [ -> ]
(05-10-2014 08:02 AM)arkstfan Wrote: [ -> ]We only have to deal with our five member board of trustees.

The approval that Geaux is referring to is a rubber stamp deal. The only time it would ever be turned down is if there are no funds in place to pay for it. Since we all know that; the proposal never gets there unless we have the money in hand to pay for it. This may mean escrowing enough funds to pay the maximum possible total cost of the contract, but if that is done, the deal will be approved.

It is a hurdle, but not if the school is able to pay the contract.

So it waits to the next regular meeting, president says please approve, here is how we are paying, the board then moves on to the next order of business?

No big whoop I'd say unless there were something that needed ASAP approval which doesn't happen often.

That is it, pretty much. If the total amount exceeds the state maximum pay for a HC ($235K/yr, I think), say it comes in for 4 years at $835K/yr... UL will be required to escrow $2,400,000 to pay the excess.
(05-10-2014 01:11 PM)Vobserver Wrote: [ -> ]
(05-10-2014 11:03 AM)arkstfan Wrote: [ -> ]
(05-10-2014 09:38 AM)Vobserver Wrote: [ -> ]
(05-10-2014 08:02 AM)arkstfan Wrote: [ -> ]We only have to deal with our five member board of trustees.

The approval that Geaux is referring to is a rubber stamp deal. The only time it would ever be turned down is if there are no funds in place to pay for it. Since we all know that; the proposal never gets there unless we have the money in hand to pay for it. This may mean escrowing enough funds to pay the maximum possible total cost of the contract, but if that is done, the deal will be approved.

It is a hurdle, but not if the school is able to pay the contract.

So it waits to the next regular meeting, president says please approve, here is how we are paying, the board then moves on to the next order of business?

No big whoop I'd say unless there were something that needed ASAP approval which doesn't happen often.

That is it, pretty much. If the total amount exceeds the state maximum pay for a HC ($235K/yr, I think), say it comes in for 4 years at $835K/yr... UL will be required to escrow $2,400,000 to pay the excess.
Dang who thought up that escrow requirement? LSU?
(05-10-2014 03:37 PM)arkstfan Wrote: [ -> ]
(05-10-2014 01:11 PM)Vobserver Wrote: [ -> ]
(05-10-2014 11:03 AM)arkstfan Wrote: [ -> ]
(05-10-2014 09:38 AM)Vobserver Wrote: [ -> ][quote='arkstfan' pid='10738957' dateline='1399726948']
We only have to deal with our five member board of trustees.

The approval that Geaux is referring to is a rubber stamp deal. The only time it would ever be turned down is if there are no funds in place to pay for it. Since we all know that; the proposal never gets there unless we have the money in hand to pay for it. This may mean escrowing enough funds to pay the maximum possible total cost of the contract, but if that is done, the deal will be approved.

It is a hurdle, but not if the school is able to pay the
So it waits to the next regular meeting, president says please approve, here is how we are paying, the board then moves on to the next order of business?

No big whoop I'd say unless there were something that needed ASAP approval which doesn't happen often.

That is it, pretty much. If the total amount exceeds the state maximum pay for a HC ($235K/yr, I think), say it comes in for 4 years at $835K/yr... UL will be required to escrow $2,400,000 to pay the excess.
Dang who thought up that escrow requirement? LSU?

Yes, with help from a few crabs in the UL System bucket.
(05-10-2014 05:17 PM)Vobserver Wrote: [ -> ]
(05-10-2014 03:37 PM)arkstfan Wrote: [ -> ]
(05-10-2014 01:11 PM)Vobserver Wrote: [ -> ]
(05-10-2014 11:03 AM)arkstfan Wrote: [ -> ]
(05-10-2014 09:38 AM)Vobserver Wrote: [ -> ][quote='arkstfan' pid='10738957' dateline='1399726948']
We only have to deal with our five member board of trustees.

The approval that Geaux is referring to is a rubber stamp deal. The only time it would ever be turned down is if there are no funds in place to pay for it. Since we all know that; the proposal never gets there unless we have the money in hand to pay for it. This may mean escrowing enough funds to pay the maximum possible total cost of the contract, but if that is done, the deal will be approved.

It is a hurdle, but not if the school is able to pay the
So it waits to the next regular meeting, president says please approve, here is how we are paying, the board then moves on to the next order of business?

No big whoop I'd say unless there were something that needed ASAP approval which doesn't happen often.

That is it, pretty much. If the total amount exceeds the state maximum pay for a HC ($235K/yr, I think), say it comes in for 4 years at $835K/yr... UL will be required to escrow $2,400,000 to pay the excess.
Dang who thought up that escrow requirement? LSU?

Yes, with help from a few crabs in the UL System bucket.

Long-term it's not that bad because presumably the pace of pay increase will slow, but it reminds me of the old Arkansas higher ed funding formula that was based on four or five year average enrollment. When we had a rapid growth spurt we were being funded as if we quite a bit smaller and it didn't catch up until years later. We basically had to front the costs until it caught up.
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