John Chavis' LSU Buyout

[Rasputin_Vol]

Documents break down buyout details as John Chavis planned to leave LSU for Texas A&M | LSU | The Advocate; Baton Rouge, Louisiana

Chavis has two options in paying the $400,000 buyout, Alleva writes in the letter: in one lump sum or in monthly installments “over a period of time equal to the amount of time remaining on the agreement.”

“As there are 12 months remaining on the contract, the monthly payment option is $33,333.33 per month due by the last day of each month, with the first payment due on January 31, 2015,” Alleva wrote.

Alleva gave Chavis a deadline of Jan. 16 on deciding on a payment option; that was a week ago. Alleva declined comment Friday.

 

[FLVOL69]

I'll vouch for the Chief, he's good for the money..😜

 

[joevol33]

He can just pay me half.

 

[rocky top buzz]

Interesting. So perhaps instead he could have gone to LSU and said "ok I will stay here through 1/31/2015 and work and recruit as per my contract. But I plan to terminate my contract on February 1st and am taking a job with one of your competitors. I can leave now if you will waive the buyout."

Seems like a simpler solution. Not saying Chief doesn't have plenty of money, but $400k is $400k no matter how you slice it.

 

[utchuckster]

Did I see were he will get 1.7 next year. Doesn't matter, A&M will pay it.

 

[OrangeDog]

He might have to write a check for that. If he pays cash he won't have enough in his billfold to entertain recruits.