(11-20-2015 12:49 PM)450bench Wrote: The buyout is a negotiable number. It won't be anywhere near that amount.
Regardless of the amount, the money is there. They'll pull the trigger when they see fit. Attendance will be the final killer for Josh.
I doubt seriously Pastner will give up one cent owed him under the contract terms. Would you?
I am relieved you have the means to buy him out.
Apparently you have never been involved in a contractual buyout of any kind. Terms of the final deal are negotiated at the time of the buyout. There is an agreed upon contractual number and you negotiate from that point forward.
According to the lawyers I work with on contacts, the terms of the contract bind both parties.
If the contract terms require paying Pastner the full amount owed him, then he must be paid the full amount.
Would you be willing to accept less than you are owned under the contract terms? The answer for me is absolutely no.
If Josh and the university parted ways today, Josh's buyout would be based on a negotiated monetary amount based on a multitude of things. I guarantee you the amount won't be anywhere near $10 million.
(11-20-2015 12:49 PM)450bench Wrote: The buyout is a negotiable number. It won't be anywhere near that amount.
Regardless of the amount, the money is there. They'll pull the trigger when they see fit. Attendance will be the final killer for Josh.
explain why you would give up 1 penny of money owed to you? lol
Because his "buyout" isn't the rest of his contract. That's why it's a "buyout".
(11-20-2015 01:08 PM)MemphisCanes Wrote: There's no way Josh Pastner's buyout is 10 million dollars.
10 MM last year, we owe him almost 8 MM if he is fired this year.
2.6MM per year. It auto-renewed last year through 2019-2020.
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.
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.
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.
Should Pastner leave on his own accord, he would owe one of a stairstep of sums ? $700,000 if he leaves before April 6, 2014; $600,000 if he leaves between April 7, 2014 and April 6, 2015; and $500,000 if he leaves after April 7, 2015.
Excluding any negotiation scenarios, if he is fired, he is owed the balance of his contract through 2019-2020 @ 2.65MM per year.
(11-20-2015 12:49 PM)450bench Wrote: The buyout is a negotiable number. It won't be anywhere near that amount.
Regardless of the amount, the money is there. They'll pull the trigger when they see fit. Attendance will be the final killer for Josh.
I doubt seriously Pastner will give up one cent owed him under the contract terms. Would you?
I am relieved you have the means to buy him out.
Apparently you have never been involved in a contractual buyout of any kind. Terms of the final deal are negotiated at the time of the buyout. There is an agreed upon contractual number and you negotiate from that point forward.
According to the lawyers I work with on contacts, the terms of the contract bind both parties.
If the contract terms require paying Pastner the full amount owed him, then he must be paid the full amount.
Would you be willing to accept less than you are owned under the contract terms? The answer for me is absolutely no.
If Josh and the university parted ways today, Josh's buyout would be based on a negotiated monetary amount based on a multitude of things. I guarantee you the amount won't be anywhere near $10 million.
His buyout has already been negotiated when his last extension was agreed upon. It's no where close to 10 million dollars.
Phillip Fulmer had a huge buyout at UTK when he was fired and it was 6 million over 4 years. Dooley's was 5 mill over 4 years.
Josh's is probably 2 mil over 4 years.
(This post was last modified: 11-20-2015 03:21 PM by MemphisCanes.)
(11-20-2015 03:18 PM)tiger2000 Wrote: Should Pastner leave on his own accord, he would owe one of a stairstep of sums ? $700,000 if he leaves before April 6, 2014; $600,000 if he leaves between April 7, 2014 and April 6, 2015; and $500,000 if he leaves after April 7, 2015.
I would be willing to negotiate, maybe even wave altogether.
(11-20-2015 03:18 PM)tiger2000 Wrote: Excluding any negotiation scenarios, if he is fired, he is owed the balance of his contract through 2019-2020 @ 2.65MM per year.
We're three games in. Two wins of a large margin against bad teams and a good showing in a loss against a top 10 team with a preseason B12 conf POY.
I get the built up frustration, but every year is a new challenge.
I see some changes in his demeanor that I like, I like the pressing, I like the more aggressive offense.
It's a long season. If we miss the dance, there very well might be a change, but let's simply hope we do well. I love the Tigers and plan on rooting for as many wins as we can get.
The Pastner thing will figure itself out.
He wins? He stays if he likes.
He loses? He's likely gone.
(11-20-2015 03:18 PM)tiger2000 Wrote: Excluding any negotiation scenarios, if he is fired, he is owed the balance of his contract through 2019-2020 @ 2.65MM per year.
Where are you getting this line?
commercial appeal articles. I know what you're getting at but there is no "buyout" in the contract. He is owed the remainder of the contract which auto-renewed last year through 2019-2020 should he be fired.
This was reconfirmed by Schad via twitter less than a month ago.
(This post was last modified: 11-20-2015 03:35 PM by tiger2000.)
(11-20-2015 03:31 PM)Sundanceuiuc Wrote: We're three games in. Two wins of a large margin against bad teams and a good showing in a loss against a top 10 team with a preseason B12 conf POY.
I get the built up frustration, but every year is a new challenge.
I see some changes in his demeanor that I like, I like the pressing, I like the more aggressive offense.
It's a long season. If we miss the dance, there very well might be a change, but let's simply hope we do well. I love the Tigers and plan on rooting for as many wins as we can get.
The Pastner thing will figure itself out.
He wins? He stays if he likes.
He loses? He's likely gone.
Until then?
Go Tigers Go!
I'm not frustrated, I still have lower bowl tickets and was in attendance last night. His contract is misunderstood by many and for good reason (the auto-renewal makes it perplexing but I'm sure they did that so that they wouldn't have to go back to the negotiation table).
(11-20-2015 03:18 PM)tiger2000 Wrote: Excluding any negotiation scenarios, if he is fired, he is owed the balance of his contract through 2019-2020 @ 2.65MM per year.
Where are you getting this line?
commercial appeal articles. I know what you're getting at but there is no "buyout" in the contract. He is owed the remainder of the contract which auto-renewed last year through 2019-2020 should he be fired.
This was reconfirmed by Schad via twitter less than a month ago.
That would be awful odd. His would be the only coaching contract, college or pro, within the last ten years that I've heard of not including a buyout provision.
(11-20-2015 03:18 PM)tiger2000 Wrote: Excluding any negotiation scenarios, if he is fired, he is owed the balance of his contract through 2019-2020 @ 2.65MM per year.
Where are you getting this line?
commercial appeal articles. I know what you're getting at but there is no "buyout" in the contract. He is owed the remainder of the contract which auto-renewed last year through 2019-2020 should he be fired.
This was reconfirmed by Schad via twitter less than a month ago.
Yep $10M. If he is relieved, I fully assume some of it to be negotiated down, but it will still be a good deal (almost all?) of it.
C'est la vie. Let's hope we win enough to stem the tide and get back to winning big.
(11-20-2015 03:31 PM)Sundanceuiuc Wrote: We're three games in. Two wins of a large margin against bad teams and a good showing in a loss against a top 10 team with a preseason B12 conf POY.
I get the built up frustration, but every year is a new challenge.
I see some changes in his demeanor that I like, I like the pressing, I like the more aggressive offense.
It's a long season. If we miss the dance, there very well might be a change, but let's simply hope we do well. I love the Tigers and plan on rooting for as many wins as we can get.
The Pastner thing will figure itself out.
He wins? He stays if he likes.
He loses? He's likely gone.
Until then?
Go Tigers Go!
I'm not frustrated, I still have lower bowl tickets and was in attendance last night. His contract is misunderstood by many and for good reason (the auto-renewal makes it perplexing but I'm sure they did that so that they wouldn't have to go back to the negotiation table).
IMHO, his contract is VTR.
No worries, not a comment at you specifically, just an observation.
Of course his contract is VTR and worthy of discussion. Carry on!
/
This is what Pastner Gets if he is fired
explain why you would give up 1 penny of money owed to you? lol
