Heupel's MOU

#26
#26
Most of us fans have been looking for a contract like this.

however I said it last night.........car salesmen working on commission can be very shady.
 
#27
#27
JoAllan said:
Holy crap

If I read this right they got this guy on a steal.

He has a chance to make money........but this looks like one of the most “structured” HC contracts I’ve seen.

I’m I seeing this right? (Bad eyes cant zoom it in enough).
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Not really a steal... Looks pretty standard to me. Lots of guaranteed money even if we fire him.
 
#28
#28
JoAllan said:
You nailed it.

You said they wouldn’t “pony up”........

Not saying they didn’t “try”........but they certainly didn’t in the end.

I can not believe Heupel accepted this contract..........knowing what they have paid folks and money supposedly floated around during this search.

He gots the opportunity to make $$......but dang. I’d be like: dude you paid me 1-7 starting out at UCF........I thought we were friends.
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White's reply: " friends is friends. Business is business
 
#30
#30
'Boro-vol said:
Heupel won life's lottery. I can't say that I blame him considering we threw generational wealth his way. Win lose or draw he has elevated himself and his family into another stratosphere financially. His Great grandkids should be very happy.

I hope he has success unlike any UT coach before him...that would be awesome. But if he doesn't, he'll be fine.
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I know whenever we see the number Unit MILLION we assume that someone is set for life; but it really doesn’t go as far as we might think. Take our new coach at $4 million per year. After the federal government takes its 35 to 40% minimum, he is now down to maybe 2.5 million. Most of us pay within sight of half a million for a house now and often 50 to 60k for a vehicle. Now his bills, savings, clothing, food, utilities, insurance....you get the idea. And he is in a job field where job security is abysmal and you see that he is not set for life by any stretch. If he invests well but were to get fired after two or three seasons (ignoring any buyout), he might save enough for 5 to 10 years, but he is not on easy street for life by any stretch. Million just isn’t a really big number anymore like it used to be. Especially single digit millions
 
#31
#31
TucsonVol said:
Yet another mediocre hire!
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Who did you really expect to be willing to come here knowing we're about to get hammered by the ncaa? Supposedly Franklin turned down 7 or 8 million a year. Not sure if thats true. Freeze is prob the only one that would have taken the job. That wasn't going to happen with his history. I'm not saying it was a homerun hire, but I'm looking forward to see what he can do with the offensive weapons(that are still here...)we have.
 
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#32
#32
JoAllan said:
I can’t believe he took this job with a base salary of less than a million more than what he was making.

White must be a huge money guy........heck Butch made more than this.
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If I'm reading this correctly, you may be confusing base salary /supplemental and guaranteed pay.

Yes, he has a base salary of 275,000

but his supplemental pay of 3.7 million is not merit based, it's guaranteed, and the reason (I think athletic departments do this is because they have their own separate accounts. The university pays 275K, the athletic dept pays 3.7 million. The guy is making 4million a year, it's an unbelievably good deal for him considering where he was coaching.
Once the contract is done, the language should be more clear, this is just an MOU.

If I am misreading this I'm sure someone who has no clue will tell me, but I'm hoping someone who actually knows will also chime in.

Also, I just took a CEO job across country and moved, and my relocation allowance was nowhere near 35K, I don't even know how you spend all that on moving. but good for him.
 
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#33
#33
Johnnyreb#VFL said:
I just hope he doesn’t do so good that Alabama steals him to be their head coach in a few years.

Oh wait
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If he opts to leave, the initial buyout is $8 million and then it drops by 2 million a year.

Compare the provisions in this contract against the ones handed out going back to Fulmer's last extension. It's a far better set of terms for the university.
 
#35
#35
stumps said:
If I'm reading this correctly, you may be confusing base salary /supplemental and guaranteed pay.

Yes, he has a base salary of 275,000

but his supplemental pay of 3.7 million is not merit based, it's guaranteed, and the reason (I think athletic departments do this is because they have their own separate accounts. The university pays 275K, the athletic dept pays 3.7 million. The guy is making 4million a year, it's an unbelievably good deal for him considering where he was coaching.
Once the contract is done, the language should be more clear, this is just an MOU.

If I am misreading this I'm sure someone who has no clue will tell me, but I'm hoping someone who actually knows will also chime in.

Also, I just took a CEO job across country and moved, and my relocation allowance was nowhere near 35K, I don't even know how you spend all that on moving. but good for him.
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Should pay for the wife to start a remodel whatever house they buy.
 
#36
#36
OrangeTsar said:
I know whenever we see the number Unit MILLION we assume that someone is set for life; but it really doesn’t go as far as we might think. Take our new coach at $4 million per year. After the federal government takes its 35 to 40% minimum, he is now down to maybe 2.5 million. Most of us pay within sight of half a million for a house now and often 50 to 60k for a vehicle. Now his bills, savings, clothing, food, utilities, insurance....you get the idea. And he is in a job field where job security is abysmal and you see that he is not set for life by any stretch. If he invests well but were to get fired after two or three seasons (ignoring any buyout), he is not on easy street for life by any stretch. Million just isn’t a really big number anymore like it used to be. Especially single digit millions
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I wasn't ignoring the buyout....it's a given. Unless he is successful, in which case the money goes up, or he is hired away. The point is, he has moved into elite company for the foreseeable future, successful or not.
 
#38
#38
'Boro-vol said:
I wasn't ignoring the buyout....it's a given. Unless he is successful, in which case the money goes up, or he is hired away. The point is, he has moved into elite company for the foreseeable future, successful or not.
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Much better financially than us, but „the millionaire and his wife“ don’t live the same rarified life as they did in the days of Thurston Howell or Jed Clampett.
 
#39
#39
OrangeTsar said:
I know whenever we see the number Unit MILLION we assume that someone is set for life; but it really doesn’t go as far as we might think. Take our new coach at $4 million per year. After the federal government takes its 35 to 40% minimum, he is now down to maybe 2.5 million. Most of us pay within sight of half a million for a house now and often 50 to 60k for a vehicle. Now his bills, savings, clothing, food, utilities, insurance....you get the idea. And he is in a job field where job security is abysmal and you see that he is not set for life by any stretch. If he invests well but were to get fired after two or three seasons (ignoring any buyout), he might save enough for 5 to 10 years, but he is not on easy street for life by any stretch. Million just isn’t a really big number anymore like it used to be. Especially single digit millions
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As long as you dont Vince Young it, a million dollars goes a long, long way.
 
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#40
#40
So is it 3.7 million or 2.7 million or something totally different.

What my bad eyes saw was 2.7......my wife said no it’s 3.7.
 
#41
#41
FLVOL_79 said:
As long as you dont Vince Young it, a million dollars goes a long, long way.
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Give the average American a one million dollar check and the majority will be bankrupt within 24 months. Just look at lottery winners if you have any doubts. People view money as some magical talisman, not a tool to be used carefully.
 
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#42
#42
OrangeTsar said:
Give the average American a one million dollar check and the majority will be bankrupt within 24 months. Just look at lottery winners if you have any doubts. People view money as some magical talisman, not a tool to be used carefully.
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No doubt. Most people are stupid.

I planned on buying 6 Ferraris with that 1 billion Powerball. Sadly now I have to settle for 0 Ferraris. One million dollars? Still 0 Ferraris. 2 million dollars? 1 Ferrari for sure.
 
#43
#43
stumps said:
Also, I just took a CEO job across country and moved, and my relocation allowance was nowhere near 35K, I don't even know how you spend all that on moving. but good for him.
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Imagination, and traveling by jet ski.
OaSW.gif
 
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#45
#45
FLVOL_79 said:
No doubt. Most people are stupid.

I planned on buying 6 Ferraris with that 1 billion Powerball. Sadly now I have to settle for 0 Ferraris. One million dollars? Still 0 Ferraris. 2 million dollars? 1 Ferrari for sure.
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I would probably travel it away. Or maybe give into the temptation to purchase a one way ticket to Mars from Elon Musk 😁
 
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