Buyout Question

[BeardedVol]

His buyout is $4 million at the end of the season.

 

[dmwhite1]

All I know is Atlanta bout to be dump tonight

 

[roberthunter]

http://tennessee.edu/wp-content/uploads/2019/04/Jeremy-Pruitt-football.pdf

Section 3.2.2

(cc) Conduct or omissions(s) by Coach which brings or is substantially likely to bring Coach and/ or the University into considerable public disrepute, embarrassment, contempt, scandal, or ridicule;

I'd say making us a laughing stock by losing to Ga State should qualify.

Kidding. Unfortunately just being a terrible head coach isn't enough.

 

[livefaith]

The armchair QBs have been promoted to armchair ADs, and are out in force tonight.

 

[maotai]

His buyout is $4 million at the end of the season.

That is just 400k beers at $10 a beer.

 

[Cartervol]

His buyout is $4 million at the end of the season.

That's a bargain compared to the Jones buyout..

 

[roberthunter]

His buyout is $4 million at the end of the season.

It's a lot more than that. Roughly 10 mil.

 

[MyVolsDropped]

Maybe if we can prove he is trying to sabatoge our program that would be cause enough for termination? Isn't that similar to insider trading or whatever its called?

Anyone know a good lawyer?

 

[TNnative]

I hear what you’re saying, but then I ask myself what’s the worst imaginable performance that could happen at UT under any circumstance (death penalty, etc.) and losing to Ga St keeps coming to mind. Like how much worse could it be?

Oh, it could be worse. Consider this: They have 11 more games to play this year. Step away from the ledge.

 

[HoptownVol]

LOL I am so ashamed that I laughed at this.

I haven't stopped laughing!

 

[TNnative]

How is what we saw today even qualify as mediocrity? I call it piss poor.

Right now? It is a stretch to get these guys to even aspire for mediocrity. Piss Poor? Well worded.

 

[BeardedVol]

It's a lot more than that. Roughly 10 mil.

Nope.

If Pruitt leaves, the buyout will be $6 million before Dec. 15, 2018 and decrease by $1 million for each succeeding year until on or after Dec. 15, 2022.

 

[West Coast Vol]

Oh, it could be worse. Consider this: They have 11 more games to play this year. Step away from the ledge.

No individual loss would be worse than Ga St IMO. Now losing 11 more consecutive games, sure that sucks big time.

 

[roberthunter]

Section 3.1.2. University Separation Payment. If the University terminates this Agreement without Cause pursuant to Section 3.1.1, then the University shall pay Coach a separation payment in the amount of sixty percent (60%) of the Base Pay and Supplemental Pay which would have been payable from the University Termination Date through January 31, 2024 (the "University Separation Payment''), without any mitigation obligations incurred by Coach or offset rights attributed to the University following any such termination.

So if we fired him on Jan 31, 2020 we would roughly owe him 60% of the 16 mil remaining on his contract.

 

[roberthunter]

Nope.

If Pruitt leaves, the buyout will be $6 million before Dec. 15, 2018 and decrease by $1 million for each succeeding year until on or after Dec. 15, 2022.

That's what he owes us if he leaves to take another job.

 

[roberthunter]

He also has no duty to mitigate - meaning that if we fire him and he takes another job, we don't even get to subtract the amount he'll make at his new job from what we owe.

 

[BeardedVol]

That's what he owes us if he leaves to take another job.

Yeah you are correct, I read that backwards.

 

[VolArmy74]

Sadly his buyout is 9.1 million if he left after this year. Fulmer had to give him a big one because he was so in demand for other jobs.

 

[Knox-a-rue]

Genius. So who would take this job of you fire a man after 1-2 years?

Shawn Elliot might take a pay raise. Or as I like to call him, Sweaty-Shirt Shawn.

 

[VolsRule]

UT is still paying butch millions for his obscene buyout — they can’t afford another one right now