Financial fallout from Schiano, UT could owe buyout

#51
#51
Just so i understand....we wanted to avoid Campbell’s buyout by trying to hire CGS...only to possibly buy him out Instead?

Clearly Currie is the Haslams’ boy, but can we possibly use this goat rodeo to force out Currie and the Haslams? Of course we need a new money man to step up. The negative PR is bad even for UT standards.
 
  • Like
Reactions: 1 person
#52
#52
TheDeeble said:
Nothing he could do if he turned down job offers from other universities after MOU was signed?

I genuinely don't know. I'd always believed an MOU wasn't legally binding. Just wondering if he could claim lost income because he turned down other offers on expectation of getting UT job.
Click to expand...

The bold tells me he had income potential, but turned it away and if he did not sign anything on the UT job, then moot point. He had the chance of more/better income but made the choice to turn it away.

BTW...I'm no lawyer, but just applying some common sense. If you had other job offers and turned them away because you hoped to land the big job, then no. ...no mulah for you. (God, I hope I'm right)

PS....fire Currie.
 
#54
#54
secking said:
Does anyone know which side backed out of the deal? This is actually very important. They had an agreement in principle. A LOT of coaches work off that agreement (especially in extensions) and sign days, sometimes months later. Agreement in principle can be legally binding depending how far along the paperwork is, thus if it was “done, only need a signature” then it’s binding and UT owes the buyout if it’s a breach of contract. I think it’s Schiano that said no so all of this is void but if not....

They say he was on the plane so it was pretty far along. To the associate AD who leaked the story, a VFL needs to step up and offer him a job as I’m sure he/she will be looking for a new one.

Btw, lots of stories coming out saying McQuery lied and Schiano is innocent. Don’t use Washington Post, they are worthless and less credible than guys who likes turtles.
Click to expand...

The report from the Washington Post was directly from the deposition which has a threat of perjury and jail time in it. I doubt that McQuery lied especially after all of the heat he took to report it. Dude had death threats and was in fear for his life.
WE hired Butch from Cincinnati after he has a winning record and a control freak attitude and some of the fans here hated that hire. Schiano has a worse record and a worse attitude than Butch. Coaches were negatively recruiting against Butch, so can you imagine the negative recruiting against Schiano with his history (perception is reality) whether it is true or not! NO thanks!
 
#55
#55
He will wind up with some money from us because he left the OSU coordinators job. He can say he resigned that job under false pretenses. This will all be settled negotiated out of court.
 
#58
#58
spyfish007 said:
He will wind up with some money from us because he left the OSU coordinators job. He can say he resigned that job under false pretenses. This will all be settled negotiated out of court.
Click to expand...

If he resigned from his post without a binding contract signed, that's most likely on him.
 
  • Like
Reactions: 1 person
#59
#59
Volunteer_Kirby said:
Schiano will probably get some chump change as compensation then never be hired in the CFB world again. If he wants to seek compensation, he should sue McQueary for saying what he did. Otherwise that snake can slither back to his hole and rot. Maybe a D2 or FCS program will put up with him.

I still can't get over how Currie gave the okay on this... it's beyond incompetent. It's down right subterfuge at this point... who is Currie really working for? Certainly doesn't have UT's best interest at heart. We should have enough reason to fire him for cause after he "allegedly" didn't know about the Washington Post article and the allegations of knowledge in the Sandusky scandal. I mean, c'mon... really?
Click to expand...
If it is accurate that "Currie did not know" about the Wasington Post article he should be fired for gross malfeasance. No corporate officer in the free world would survive this. Currie should not be allowed back in the building
 
#60
#60
Not a lawyer, but imagine Schiano will sue due to irreparable damages to his reputation stemming from this situation.
 
#61
#61
skeeter33418 said:
If he resigned from his post without a binding contract signed, that's most likely on him.
Click to expand...
He can argue he had a good faith signed MOU (if in fact he did) and that signing a MOU is a customary practice in this business. Courts do examine common law or common business practices and decide from there. However before getting to that point it is settled out of court because no one wants to take the risk of losing more money in court.
 
#63
#63
If we rehire Butch, maybe we can get out of paying him the $8.2 million buyout and apply that money to the $20 million we owe Schiano and only be $11.8 million in the hole instead of $28.2 million.
 
  • Like
Reactions: 1 person
#64
#64
spyfish007 said:
He can argue he had a good faith signed MOU (if in fact he did) and that signing a MOU is a customary practice in this business. Courts do examine common law or common business practices and decide from there. However before getting to that point it is settled out of court because no one wants to take the risk of losing more money in court.
Click to expand...

If the MOU was drafted correctly, I think his negotiation expenses will be all he would have any hope of getting. Of course, a bulldog trial attorney could hold on for more and try to get a higher number in a settlement.
 
#65
#65
ButchBuddy said:
If we rehire Butch, maybe we can get out of paying him the $8.2 million buyout and apply that money to the $20 million we owe Schiano and only be $11.8 million in the hole instead of $28.2 million.
Click to expand...

Hopefully joking. I just peed a little laughing. You win the internet tonight....so long as there is sarcasm in there. Can’t ever tell here
 
#66
#66
Brad Jones
2 hrs ·
Twitter
·
There are reports that TN will owe Schiano $20 million in a buyout for a contract that was signed but TN backed out of it. Fox Sports Knoxville mentioned this.
Click to expand...

This guy BBBTV says that Feldman is saying they are working on a settlement, a number that will work for Schiano. Deal has been signed for two weeks and was to be announced today fwiw.

Btw, THIS is exactly WHY you hire a search firm.
 
#67
#67
HwyChile said:
If the MOU was drafted correctly, I think his negotiation expenses will be all he would have any hope of getting. Of course, a bulldog trial attorney could hold on for more and try to get a higher number in a settlement.
Click to expand...

Being he didn’t hire a firm or search committee, I doubt it was drafted correctly.
 
#69
#69
More the reason to step in and fire Currie immediately, put Fullmer as AD start coaching search over, it's that important this time around:detective:
 
#70
#70
secking said:
This guy BBBTV says that Feldman is saying they are working on a settlement, a number that will work for Schiano. Deal has been signed for two weeks and was to be announced today fwiw.

Btw, THIS is exactly WHY you hire a search firm.
Click to expand...

There are conflicting reports out right now. Most say no contract was signed.
 
#72
#72
I think that Schiano alleged that he received death threats already...............

Even if he did. That is grounds for firing. (Florida statute #28468698621)
 
#75
#75
Integrity is one of the first (if not THE first) adjective that Currie used to describe who we were looking for as our new head coach. This was in his first news conference after the firing.

Anybody else remember this?

....sorry, I have avoided VN for a few months and I haven't kept up with the banter, so I apologize if this has been quoted 'ad nauseam.'
 
New posts
You must log in or register to reply here.

VN Store



Back
Top