The Phil Fulmer buyout countdown

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#127
#127
Rasputin_Vol said:
If Fulmer received his first $125,000 check on December 1, 2008 (assuming like most of us, he had to put a month in the hole after his November 1st firing :crazy: ), he has received 18 checks so far, with 30 more coming to him each month.

Total payout to date: $2,250,000
Remaining payout: $3,750,000
Monthly payments made: 18
Monthly payments remaining: 30
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Can we get over it? This happens every time a coachs get fired. Why is this shocking? Did you expect him to say "nah nevermind, dont worry about the millions"
 
#128
#128
Urinal Mint said:
Can we get over it? This happens every time a coachs get fired. Why is this shocking? Did you expect him to say "nah nevermind, dont worry about the millions"
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It probably has more to do with sane people knowing that it was an incredibly dumb contract extension from the get go. Seeing this doesn't change that, true. But, it does just reiterate how dumb it really was.
 
#129
#129
Volfan8282 said:
It probably has more to do with sane people knowing that it was an incredibly dumb contract extension from the get go. Seeing this doesn't change that, true. But, it does just reiterate how dumb it really was.
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If Jimmy Sexton was negotiating the terms of your cell-phone contract, you would end up getting paid to use the phone. Don't hate the player, hate the game.

Edit: Wait, didn't you and I already discuss this? Yep we did! :)
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#130
#130
Hobock said:
If Jimmy Sexton was negotiating the terms of your cell-phone contract, you would end up getting paid to use the phone. Don't hate the player, hate the game.

Edit: Wait, didn't you and I already discuss this? Yep we did! :)
Posted via VolNation Mobile
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We talked about this last night ... the whole bringing a knife to a gun fight deal. I agree. I don't blame Sexton. I blame Hamilton and certain moronic boosters.
 
#132
#132
Volfan8282 said:
It probably has more to do with sane people knowing that it was an incredibly dumb contract extension from the get go. Seeing this doesn't change that, true. But, it does just reiterate how dumb it really was.
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Exactly. Why get pissed with Fulmer over the buyout? UT made the extension and then the call to move on a year later, whereas Fulmer would give it all back to keep coaching.
 
#134
#134
Urinal Mint said:
Can we get over it? This happens every time a coachs get fired. Why is this shocking? Did you expect him to say "nah nevermind, dont worry about the millions"
Click to expand...

Folks get pissed off for the same reason, for example, when a CEO gets a golden parachute for failing a company and losing money but than gets the big payout. Just because it's normal operating procedure doesn't make it easier to swallow.
 
#137
#137
VolsNSkinsFan said:
Wake Up, Wake Up, Its the 1st of the Month.... To get up, cash your check and get drunk
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When I think of that buyout and the sorry shape of our program the only Bone Thugs song that comes to mind is "mo murder"
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#139
#139
All about the Benjamins...

Total payout to date: $2,625,000
Remaining payout: $3,375,000
Monthly payments made: 21
Monthly payments remaining: 27

Just 27 more months before Fulmer can finally have his pain eased...
 
#140
#140
Rasputin_Vol said:
If Fulmer received his first $125,000 check on December 1, 2008 (assuming like most of us, he had to put a month in the hole after his November 1st firing :crazy: ), he has received 18 checks so far, with 30 more coming to him each month.

Total payout to date: $2,250,000
Remaining payout: $3,750,000
Monthly payments made: 18
Monthly payments remaining: 30
Click to expand...

wow no wonder he is still in a painful state....he makes me sick.....:sick:
 
#141
#141
the buyout was $1,000,000. Tennessee could have paid that an dnothing more legally.

Tennessee made decision to honor entire contract which came to $6,000,000..

maybe the thread should be titled "Tennesssee Pay Off".
 
#142
#142
LWSVOL said:
the buyout was $1,000,000. Tennessee could have paid that an dnothing more legally.

Tennessee made decision to honor entire contract which came to $6,000,000..

maybe the thread should be titled "Tennesssee Pay Off".
Click to expand...

Thank you for that Larry. :hi:

I'm a huge Fulmer supporter, this is nice to know.
 
#143
#143
LWSVOL said:
the buyout was $1,000,000. Tennessee could have paid that an dnothing more legally.

Tennessee made decision to honor entire contract which came to $6,000,000..

maybe the thread should be titled "Tennesssee Pay Off".
Click to expand...

That actually makes me more annoyed.
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#147
#147
I believe he should by another business with his earnings. He should invest in a pumpkin carving shop on the strip in Gatlinburg. Call it......Pumpkinburg.
 
#148
#148
Should have thrown my mortgage in on top of that pile of $$$$..At least my house payments are paying for something..My VASF HAS BEEN GOING UP A HOGS'S A$$for a while now..
 
#149
#149
LWSVOL said:
the buyout was $1,000,000. Tennessee could have paid that an dnothing more legally.

Tennessee made decision to honor entire contract which came to $6,000,000..

maybe the thread should be titled "Tennesssee Pay Off".
Click to expand...

That's not true. The buyout was $1M if Fulmer left for another job. Here's how it works it he was fired.

"Fulmer previously had a $1 million buyout clause if he left for another coaching job, however that clause is not present in his latest deal.

The formula for a university buyout as a result of terminating Fulmer’s contract remains the same as previous years: Fulmer’s base pay multiplied by the years remaining on his contract plus one year of TV/radio appearance fees, equipment and apparel fees and an endorsement/appearance fees and an additional $1 million."

Fulmer gets raise to $2.4 million; Pearl to $1.6 million GoVolsXtra
 
#150
#150
jlovevols said:
That's not true. The buyout was $1M if Fulmer left for another job. Here's how it works it he was fired.

"Fulmer previously had a $1 million buyout clause if he left for another coaching job, however that clause is not present in his latest deal.

The formula for a university buyout as a result of terminating Fulmer’s contract remains the same as previous years: Fulmer’s base pay multiplied by the years remaining on his contract plus one year of TV/radio appearance fees, equipment and apparel fees and an endorsement/appearance fees and an additional $1 million."

Fulmer gets raise to $2.4 million; Pearl to $1.6 million GoVolsXtra
Click to expand...

I was looking at the old contract, not the revised one and I think you are correct. Or at least my statement is INCORRECT... still not sure that article has the correct breakdown that happened once he was terminated.

the base contract was much less than the annual income he received.

Thank you for the correction...
 
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