Word on UT Attorneys

#1
JohnWardForever

JohnWardForever

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#1
According to Vegas Insider, UT Attorneys Have been working on the Buyout the last two weeks, with THE Announcement coming by Noon Monday. If this doesn't happen; Next Season will be lost too; with Recruits jumping ship. We'll see. DSM, IJTM.
 
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#6
#6
How do you "work" on a buyout. Fire him and pay him what you owe him. If you are going to put it in his contract then be prepared to pay it.
 
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#7
#7
The word going around twitter this morning from unnamed people and unsubstantiated sources said the buyout agreement was 7 1/5 mill. Couldn't be corroborated so nobody has mentioned it yet I guess. Seemed like as good a time as any to mention it.
 
#8
#8
JohnWardForever said:
According to Vegas Insider, UT Attorneys Have been working on the Buyout the last two weeks, with THE Announcement coming by Noon Monday. If this doesn't happen; Next Season will be lost too; with Recruits jumping ship. We'll see. DSM, IJTM.
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#15
#15
Volhoops said:
How do you "work" on a buyout. Fire him and pay him what you owe him. If you are going to put it in his contract then be prepared to pay it.
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Actually, all contracts are open to negotiations and conditions. If the above is true, they're just working on the terms and conditions associated with payment as well as the terms and conditions Jones would be under during the duration of payment.
 
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#16
#16
JohnWardForever said:
According to Vegas Insider, UT Attorneys Have been working on the Buyout the last two weeks, with THE Announcement coming by Noon Monday. If this doesn't happen; Next Season will be lost too; with Recruits jumping ship. We'll see. DSM, IJTM.
Click to expand...

I'm not worried about Recruiting. The majority of the TN kids are gonna be Vols regardless. Long as we have a guy hired sometime shortly after the regular season ends recruiting isn't gonna take a huge hit. Depending on who we hire it could get better. Way too soon to worry about this recruiting class.
 
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#17
#17
05_never_again said:
Why would lawyers be involved in this period? The buyout is in Butch's contract. It is what it is. Why are lawyers needed to "work" on the buyout?
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Buyout amount and terms in how it's paid can be altered. Like ut can negotiate a lower amount by paying him a lump sum instead of in payments over a time period. Butch would also maybe be able to get around the offset of future employment diminishing payments.
 
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#19
#19
05_never_again said:
Why would lawyers be involved in this period? The buyout is in Butch's contract. It is what it is. Why are lawyers needed to "work" on the buyout?
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They will be involved when it involves reworking the buyout contract. Still think this was done last week and already been signed. Hopefully it's made public tomorrow though. There will always be doubt till it's officially announced.
 
#20
#20
jasonvol18 said:
They will be involved when it involves reworking the buyout contract. Still think this was done last week and already been signed. Hopefully it's made public tomorrow though. There will always be doubt till it's officially announced.
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I have good reason to believe this as well.
 
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#22
#22
VFLnSFD said:
I have good reason to believe this as well.
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if it's gonna happen, it would happen today. Maybe presser tomorrow, but would already be done by now if it's gonna be this week. Gotta get ready for a game Sat., can't do it Monday and interfere w/ game prep. Wouldn't be able to keep it quiet, so I'm guessing that means it won't happen this week. Sigh...
 
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#23
#23
05_never_again said:
Why would lawyers be involved in this period? The buyout is in Butch's contract. It is what it is. Why are lawyers needed to "work" on the buyout?
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It’s a contractual agreement written in attorney speak. Plus they may be looking at him resigning to save face (lulz way too late for that) and negotiating a lesser buyout.
 
#24
#24
JohnWardForever said:
According to Vegas Insider, UT Attorneys Have been working on the Buyout the last two weeks, with THE Announcement coming by Noon Monday. If this doesn't happen; Next Season will be lost too; with Recruits jumping ship. We'll see. DSM, IJTM.
Click to expand...

I use Vegas insider a lot and see nothing on there about this..where on their site is it listed?
 
#25
#25
05_never_again said:
Why would lawyers be involved in this period? The buyout is in Butch's contract. It is what it is. Why are lawyers needed to "work" on the buyout?
Click to expand...

You obviously have never dealt with contractsand money… When there’s a settlement with employment agreement you always want to make sure the language is correct espresso in large sums of money is involved
 
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