How long do Stoops at KY and Beamer at USC hang on??

[McCat]

what's the total time for the payout now? and how is that taxed?

if the payout is still "income", at the federal level there isn't a tax bracket difference between 38 million and 1 million (really 600k). is stoops agreeing to get paid out 60 plus years to dip bellow 600k per year?

Lump sum = higher effective tax rate (income stacked into one year)
Spread out payments = slightly lower effective rate, but still high because he remains in the top bracket

 

[LouderVol]

Lump sum = higher effective tax rate (income stacked into one year)
Spread out payments = slightly lower effective rate, but still high because he remains in the top bracket

you are right, I realized I was thinking about the progressive tax brackets backwards.

how much he saves is really going to be dependent on how many years he is getting paid out,. more time equals more savings, but less money and at some point its the law of diminishing returns for someone in their 60s. and assuming taxes don't go up, which the longer the payouts last the more likely that is to happen.

 

[LouderVol]

something else that just hit me.

Mark Stoops may have a higher net worth than Bob Stoops. Bob's last contract was worth 34.5 million, and his highest salary was 6.3 million. Mark was making 9 million a year.

that is mind blowing that they are even close enough to wonder about.

 

[Fatman Photos]

Well Kentucky answered their part of the question yesterday.

 

[05_never_again]

something else that just hit me.

Mark Stoops may have a higher net worth than Bob Stoops. Bob's last contract was worth 34.5 million, and his highest salary was 6.3 million. Mark was making 9 million a year.

that is mind blowing that they are even close enough to wonder about.

Assuming that they've both been at least decent with money over their lives, that's probably true. It certainly has paid to continue to coach in an era where the TV contracts kept exploding.

 

[S.C. OrangeMan]

Both with miserable seasons, lose today to instate rivals. Wow Louisville 41-0 over the Cats.

Beamer has at least one more year, per their AD. He has to do it without Sellers, though.

Stoops? Who knows?

Both schools may be smart to wait a year to look for a HC. Lots of movement right now, and several prime jobs open including Ole Miss, Arky, Penn State, and UCLA.

It may be smart to wait until there might be less competition for the best coaches.

Clemson may be open if they are 7-5 again, or worse.

 

[stolitonic]

you are right, I realized I was thinking about the progressive tax brackets backwards.

how much he saves is really going to be dependent on how many years he is getting paid out,. more time equals more savings, but less money and at some point its the law of diminishing returns for someone in their 60s. and assuming taxes don't go up, which the longer the payouts last the more likely that is to happen.

I'm sure there was probably a clause included with his giving them an extension that there will be no offset on the $38 million.

He could theoretically go get a job tomorrow as a DC for $2 million/yr and still collect that and eventually his $38 million.

Nobody does anything out of the goodness of their hearts when it involves $38 million-least of all a Stoopsm