Boo$Ter ?

#126
#126
JMSqb11 said:
Butch had offset language and chose to not search for a job and stay an intern.


Pruitt has zero offset language so we are paying him 12 million if we kick the tires regardless.

Not trying to argue. However, it is crazy this "no offset" language is creeping up in contracts now.
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The "offset" language in Pruitt's contract is he gets 6 cents on the dollar (60% of base + 60% supplement) versus Jones' (100% of base + 100% supplement) - (future salary offset). You can argue whether one or the other is better, but to insinuate that there is no "offset" or "mitigation" in Pruitt's contract is not entirely accurate.
 
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#127
#127
I apologize if this point has already been made (I have not read all 6 pages) but I wonder how much the City of Knoxville and surrounding businesses would be willing to donate as fan participation directly contributes to their bottom line. Of course, due to 2020 no one is flush with money other than Discovery Channel which really has not shown that much interest in the surrounding community since acquiring Scripps. Regal is hanging on by a thread and all the hotel's downtown are struggling.
 
#128
#128
JT3 said:
This probably has been mentioned already but the money does have to be up front and place into escrow. From there is paid out over the agreed upon term.
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Yes. Which is why most of these things are financed. Take out the loan and put it in escrow.
 
#129
#129
Poppa T said:
The "offset" language in Pruitt's contract is he gets 6 cents on the dollar (60% of base + 60% supplement) versus Jones' (100% of base + 100% supplement) - (future salary offset). You can argue whether one or the other is better, but to insinuate that there is no "offset" or "mitigation" in Pruitt's contract is not entirely accurate.
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Pruitt gets 100% of his buyout once he is fired. Pruitt has zero offset language in his contract as document in countless articles about his contract. Now his buyout fluctuates based on date he would be fired.
 
#130
#130
I am not donating sh!t towards a buyout unless we have Hugh Freeze already on board. As we have seen, we will probably hire some scrub and go the cheap route, so I'm not going to donate MY money if they don't give us who we want.
 
#131
#131
JMSqb11 said:
Pruitt gets 100% of his buyout once he is fired. Pruitt has zero offset language in his contract as document in countless articles about his contract. Now his buyout fluctuates based on date he would be fired.
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I read his original contract.

Yes, he gets 100% of his "Buyout". "Buyout" is defined as 60% of the pay structure.
He gets 60% of his (base + supplemental) annual pay x the number of years remaining on his contract term.

As far as numerous articles ... "Tennessee's buyout for terminating Pruitt's contract remains 60% of the remaining salary he's owed through the end of the deal." And again, yes, he gets 100% of the 60% pay.

In their negotiation attempts, the (60% of pay) buyout was an attempt to mitigate the Butch Jones effect, (100% of pay - future salary).

I am not trying to say one negotiation mitigation method is better or worse, but just trying clarify that in this case 100% buyout is 60% of pay.
 
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#134
#134
VFL 24/7 said:
I am not donating sh!t towards a buyout unless we have Hugh Freeze already on board. As we have seen, we will probably hire some scrub and go the cheap route, so I'm not going to donate MY money if they don't give us who we want.
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Exactly how the big money donors at Auburn handle it.
 
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