Financial fallout from Schiano, UT could owe buyout

[KBVol]

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.

There was no contract signed yet from what I’ve heard. Only a memorandum of understanding. Don’t know what they’d potentially owe...I’d invite Schiano to take us to court.

 

[Volsaholic]

If he's looking to sue someone, he should be suing his agent for not seeing this coming and allowing this to turn out the way it did, that is exactly what he pays his agent a huge commission for. His agent did a poor job of marketing him, actually it goes even beyond that, his agent's incompetence caused damage to his reputation. As far as Tennessee's liability, there is none , no contract was signed.

 

[slydwz]

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.'

Integrity it was! He mentioned it first and again later on. Why I had posted a few days ago he wouldn’t consider Schiano as his had been stained by the allegation (regardless of any actual knowledge of the events). Boy, was I FOS.

 

[1 in 102 455]

agreeing to agree is not a contract. it's a piece of paper that says we will sign a contract. doesn't mean anything. either in TN or Ohio. He'll sue though, just wont get anything out of it.

This. You can’t agree to to agree later. If it’s drafted correctly, it’s nonbinding. There has to be mutual assent to be bound to the terms of an agreement.

 

[OrangeDog]

This. You can’t agree to to agree later. If it’s drafted correctly, it’s nonbinding. There has to be mutual assent to be bound to the terms of an agreement.

I would need to read the "Shower Clause" to be able to make a ruling.

 

[volberry]

What morons we have!! Our Administration and Athletic Department have no clue. All I want to know is how much does Greg S get paid for being our coach for 2 hours and no work? And my only big complaint is they shouldn't have drug him through the mud like this. If he was checked off by other schools and the NFL to work then they should have stood up for him. I've been saying for years the leadership for Rocky Top has to be ran out. Top boosters, Administration, etc. No good coach will come here.

 

[Jim]

This much

































💩 or






























👌

 

[volberry]

For real? Is it $1 million per year of the contract?

 

[preacherwebb]

Have you contacted the President or Lady Davenport?

Call and email President DiPietro.

Tel: 865-974-2241
Fax: 865-974-3753

@UTPresidentJoe on Twitter
President Joe DiPietro on Facebook

Executive Assistant to the President
David Golden
dgolden@tennessee.edu


Beverly Davenport @ChancellorDav twitter
chancellor@utk.edu email
865-974-3265 phone

 

[volberry]

Have you contacted the President or Lady Davenport?

Call and email President DiPietro.

Tel: 865-974-2241
Fax: 865-974-3753

@UTPresidentJoe on Twitter
President Joe DiPietro on Facebook

Executive Assistant to the President
David Golden
dgolden@tennessee.edu


Beverly Davenport @ChancellorDav twitter
chancellor@utk.edu email
865-974-3265 phone

They need to be fired too! Fans should picket just like they did last night.

 

[golfballs]

Does anyone doubt that Jimmy Sexton will sue his alma mater on his client's behalf? I just hope the university doesn't settle. They don't owe him jack ****

 

[JohnD13]

Have you contacted the President or Lady Davenport?

Call and email President DiPietro.

Tel: 865-974-2241
Fax: 865-974-3753

@UTPresidentJoe on Twitter
President Joe DiPietro on Facebook

Executive Assistant to the President
David Golden
dgolden@tennessee.edu


Beverly Davenport @ChancellorDav twitter
chancellor@utk.edu email
865-974-3265 phone

Dude quit posting same crap on multiple threads

 

[AM64]

What morons we have!! Our Administration and Athletic Department have no clue. All I want to know is how much does Greg S get paid for being our coach for 2 hours and no work? And my only big complaint is they shouldn't have drug him through the mud like this. If he was checked off by other schools and the NFL to work then they should have stood up for him. I've been saying for years the leadership for Rocky Top has to be ran out. Top boosters, Administration, etc. No good coach will come here.

The previous two idiot ADs hired worthless coaches who had to be fired and paid to go away. Our current moron may have raised the bar by having to pay a coach who was never actually hired to go away. Incredible.

I think you are wrong though about other coaches. I'd find it inspiring that any school has a fanbase willing to stand together against someone they felt morally corrupt.

 

[Thunder Good-Oil]

Have you contacted the President or Lady Davenport?

Call and email President DiPietro.

Tel: 865-974-2241
Fax: 865-974-3753

@UTPresidentJoe on Twitter
President Joe DiPietro on Facebook

Executive Assistant to the President
David Golden
dgolden@tennessee.edu


Beverly Davenport @ChancellorDav twitter
chancellor@utk.edu email
865-974-3265 phone

You should post Jimmy Sexton's contact info.

 

[madbamahater]

Zero

 

[volberry]

Does anyone doubt that Jimmy Sexton will sue his alma mater on his client's behalf? I just hope the university doesn't settle. They don't owe him jack ****

They will get drug threw the mud. If I was him I wouldn't settle and let it all come out.

 

[UT-Rex]

A copy of the mou will likely surface soon, giving a better indication / if anything (see Currie's and Davenport's statements).

 

[volberry]

The previous two idiot ADs hired worthless coaches who had to be fired and paid to go away. Our current moron may have raised the bar by having to pay a coach who was never actually hired to go away. Incredible.

I think you are wrong though about other coaches. I'd find it inspiring that any school has a fanbase willing to stand together against someone they felt morally corrupt.

I don't. UT was already blacklisted. Have you seen a great coach in ten years here? And now it's worse.

 

[WhitewaterVol]

Soverign Immunity means they owe him zero pretty much regardless. Just Ask Leach regarding T Tech. The university may pay him to go away quietly but they probably don't owe him squat.

 

[volberry]

How much?

 

[TN_Transplant]

Definition of a Memorandum of Understanding:

---------------------------------------------------
A memorandum of understanding (MOU or MoU) is a formal agreement between two or more parties. Companies and organizations can use MOUs to establish official partnerships.

MOUs are not legally binding but they carry a degree of seriousness and mutual respect, stronger than a gentlemen’s agreement. Often, MOUs are the first steps towards a legal contract. In US law, a memorandum of understanding is synonymous with a letter of intent (LOI), which is a non-binding written agreement that implies a binding contract is to follow.
---------------------------------------------------------

A MOU is nonbinding. It is little more than a Gentleman's Agreement. At most, he will recoup any legal costs associated. This will be minimal. It is not legally enforceable. Why can no one understand that.

 

[Volfan2012]

Ok let's settle this a years supply of bologna and bread and an autographed photo of AD Currie to set in his living room.

 

[HazMat]

I guess he's going to get paid the value of having his name followed by 'pedophile enabler' (which 2 people have testified he: Sciano didn't know) written on a huge rock and shown on CNN

 

[Coach Mac Attack]

Hey VolNation, long time lurker here and a Gators Fan with a much needed name update. I come in peace.

I would be absolutely fuming if I were you. 1) w/out baggage, Schiano isn't that good; 2)He's got Sandusky sized baggage-innocent or not Schiano carries baggage; 3) if Currie still decides to pull trigger, he should have expected some protest; 4) Currie then backs down amidst protests like a wimp. Any potential coach will know Currie doesn't have his back when a crisis inevitably occurs.

I'd be fuming like the gates of hell.

I'm a lawyer, and that memorandum of understanding is very likely a binding contract. Can't say for certain without reading it and I don't know Tennessee law. If it's binding the Vols may be on the hook for the full contract or any buy-out amount (with an offset should Schiano get a new job)

Now, the Vols will need to find a coach and assistance on the cheap due to this SNAFU with an AD who does not have a coaches back. That's a tough spot, one I wouldn't wish on my worst enemy (ok, maybe a nole but not Rocky Top)

 

[HwyChile]

Hey VolNation, long time lurker here and a Gators Fan with a much needed name update. I come in peace.

I would be absolutely fuming if I were you. 1) w/out baggage, Schiano isn't that good; 2)He's got Sandusky sized baggage-innocent or not Schiano carries baggage; 3) if Currie still decides to pull trigger, he should have expected some protest; 4) Currie then backs down amidst protests like a wimp. Any potential coach will know Currie doesn't have his back when a crisis inevitably occurs.

I'd be fuming like the gates of hell.

I'm a lawyer, and that memorandum of understanding is very likely a binding contract. Can't say for certain without reading it and I don't know Tennessee law. If it's binding the Vols may be on the hook for the full contract or any buy-out amount (with an offset should Schiano get a new job)

Now, the Vols will need to find a coach and assistance on the cheap due to this SNAFU with an AD who does not have a coaches back. That's a tough spot, one I wouldn't wish on my worst enemy (ok, maybe a nole but not Rocky Top)

I am a lawyer and a MOU is not a binding contract. In fact, if drafted correctly, a MOU specifically states it is not a binding contract. The purpose of a MOU is to get some of the basic deal points on a piece of paper so that a real contract can be drafted using the MOU or LOI as a guide. You have to sign a real contract to be bound. If a MOU were binding, there would be no need to draft a real contract. You would just sign the MOU and be done. That is why they are not binding. I don't know what kind of law you practice but it is puzzling that you would say a MOU is a binding contract.