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Apparently the buyout drops after Dec 1

Today we celebrate that

Firing Day is 37 away.

[video=youtube;3GwjfUFyY6M]https://www.youtube.com/watch?v=3GwjfUFyY6M[/video]

 
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DapperSlapper said:
D.O.C. said:
caneworld said:
MedleyCane said:
sabrose said:
According to Canesport . So the administration will wait till then to let him go. Of course they could announce he is going to be let go till after the season
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Canesport is clueless.
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Total BS!!! We have to pay his salary for the year regardless and the buyout is based on remaining seasons on contract.

So there should be no difference whether we fire him today or in DEC... except that we might have to up an asst coach's salary for being the HC for rest of the season.
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Not that I have a clue as to what his contract says, but most likely the buyout is a percentage of the dollar amount left on the contract. It sounds like what is being said is that the percentage drops on December 1.
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It's 4 years. This drop in buyout stuff is nonsense, though it may be true. Here's why it's nonsense.

Let's assume that each remaining year is bought out at $2 million (before this purported drop in the buyout). If they fired him now, they may owe him next to nothing for the remainder of this year (his contract year ends January 31). Since the difference for this year is almost certainly negligible whether they fire him now or wait until the purported magic date, I'll ignore it.

How much could the buyout drop? 10%? That would be a savings of $800,000 over 4 years. 20%? That's doubtful for a number of reasons, but that would be $1.6 million. Is that worth the damage being done? I don't think so.

If anyone responds with "the buyout drops by $8 million" on December 1, I'll hunt you down and skin you alive. I posted about that in another thread. There is not another universe in the multiverse in which that could happen.
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In doing a cursory search, it seems that these buyouts can be structured in many different ways. Some are flat dollar figures, some are percentages of what is left to be owed on the contract. One intriguing way in which buyouts are structured, which would make sense in this situation, is that the amount is measured against performance, ie wins and losses. With this season incomplete, firing him now might mean they have to pay him based off of his record until the end of last season vs. waiting until the end of this season, when it could be worse.

At the end of the day, nobody knows for sure. So **** it.
 
D.O.C. said:
DapperSlapper said:
D.O.C. said:
caneworld said:
MedleyCane said:
Canesport is clueless.
Click to expand...


Total BS!!! We have to pay his salary for the year regardless and the buyout is based on remaining seasons on contract.

So there should be no difference whether we fire him today or in DEC... except that we might have to up an asst coach's salary for being the HC for rest of the season.
Click to expand...

Not that I have a clue as to what his contract says, but most likely the buyout is a percentage of the dollar amount left on the contract. It sounds like what is being said is that the percentage drops on December 1.
Click to expand...

It's 4 years. This drop in buyout stuff is nonsense, though it may be true. Here's why it's nonsense.

Let's assume that each remaining year is bought out at $2 million (before this purported drop in the buyout). If they fired him now, they may owe him next to nothing for the remainder of this year (his contract year ends January 31). Since the difference for this year is almost certainly negligible whether they fire him now or wait until the purported magic date, I'll ignore it.

How much could the buyout drop? 10%? That would be a savings of $800,000 over 4 years. 20%? That's doubtful for a number of reasons, but that would be $1.6 million. Is that worth the damage being done? I don't think so.

If anyone responds with "the buyout drops by $8 million" on December 1, I'll hunt you down and skin you alive. I posted about that in another thread. There is not another universe in the multiverse in which that could happen.
Click to expand...

In doing a cursory search, it seems that these buyouts can be structured in many different ways. Some are flat dollar figures, some are percentages of what is left to be owed on the contract. One intriguing way in which buyouts are structured, which would make sense in this situation, is that the amount is measured against performance, ie wins and losses. With this season incomplete, firing him now might mean they have to pay him based off of his record until the end of last season vs. waiting until the end of this season, when it could be worse.

At the end of the day, nobody knows for sure. So **** it.
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It doesn't matter how the per year buyout rate is calculated. If there is a drop in that buyout, as the rampant rumors seem to suggest, the drop is all that matters. That's the savings. My post addresses why that drop is probably not significant or relevant.
 
Cribby said:
I said this in the Hue Jackson thread three weeks ago, everyone thought it was bs.

I also said it would have to be an epic meltdown to do it during the season.

These cheap ****s are counting every penny.
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They just want bowl games
 
I disagree. In line with the mantra that Donna said, Golden is in his second year in terms of the contract. My understanding, and I could be wrong because Miami is a private school that doesn't disclose contracts, is that Golden keeps the buyout as long as he is on contract until February 20, 2016. This, in effect guaranteed him, three years of his full recruits after the "cloud". That is why there is a 2020 termination (non-guaranteed) extension of the contract. No buyout until the 2017 season, because no one would chit can a coach during the 2015 recruiting season before February 10, 2016, and the Canes are stuck with him until the earliest the 2016 season. That is why James says we will wait until after the season. What he really means is we will wait after February 20, 2016. We screwed until then. And WE LOSE ALL RECRUITS.
 
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SJMPARMAN said:
I disagree. In line with the mantra that Donna said, Golden is in his second year in terms of the contract. My understanding, and I could be wrong because Miami is a private school that doesn't disclose contracts, is that Golden keeps the buyout as long as he is on contract until February 20, 2016. This, in effect guaranteed him, three years of his full recruits after the "cloud". That is why there is a 2020 termination (non-guaranteed) extension of the contract. No buyout until the 2017 season, because no one would chit can a coach during the 2015 recruiting season before February 10, 2016, and the Canes are stuck with him until the earliest the 2016 season. That is why James says we will wait until after the season. What he really means is we will wait after February 20, 2016. We screwed until then. And WE LOSE ALL RECRUITS.
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It seems English may not be your first language. Irrespective of whether it is, you may want to sit this one out.
 
Cribby said:
I said this in the Hue Jackson thread three weeks ago, everyone thought it was bs.

I also said it would have to be an epic meltdown to do it during the season.

These cheap ***** are counting every penny.
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I'm pretty sure yesterday qualifies as an epic meltdown.
 
No it was lawyer talk and I am a lawyer so take the comment for what it is worth.
 
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Well you have the contract? I used to be a Florida lawyer until I realized that was a dead end and went to a place I could make real money. How is staying in Florida doing for you? I won't wait for your response.
 
Let me spell it out for you Florida lawyer. IF AG is terminated, at ANY point BEFORE February 20, 2016, he gets the buyout! PERIOD! Why don't you get that? That means, unless renegotiated before that time, UM is stuck with him before then! Did they give you a law degree dude? Do you not understand law? Did they not teach you contract law where you went? Jeez.
 
SJMPARMAN said:
Let me spell it out for you Florida lawyer. IF AG is terminated, at ANY point BEFORE February 20, 2016, he gets the buyout! PERIOD! Why don't you get that? That means, unless renegotiated before that time, UM is stuck with him before then! Did they give you a law degree dude? Do you not understand law? Did they not teach you contract law where you went? Jeez.
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Odds are he gets a buyout if he's terminated at any point before January 31, 2020 (though his salary for that year may be paid before that date). His contract year starts on February 1 every year, and he's signed through the 2019 season. I have posted a few times about his buyout. If you had any sense, you'd read my posts. Based on your posts, I don't believe for a nanosecond that your are or ever were an attorney. You're an obvious troll, and you should probably be banned from posting. This is the last time I will respond to you, as your posts do not merit responses.
 
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DapperSlapper said:
If anyone responds with "the buyout drops by $8 million" on December 1, I'll hunt you down and skin you alive.
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This.

Thing is, this chump tried to high-tail it to PSU in 2013, I seriously doubt His agent over-leveraged UM, to the point where His client couldn't even pay His own BO.
 
Just to clarify my post, if UM terminates but makes it effective after February 20, 2016, they can get rid of Golden. But anyone hired before then must not be named Head Coach. That is in the contract, and I have read several articles on it, as a lawyer, and as Canes fan for 45 years, that is what UM did to itself when it renewed Golden's contract. So we stuck until next year. That is why Blake talks about evaluating after the season.
 
SJMPARMAN said:
Just to clarify my post, if UM terminates but makes it effective after February 20, 2016, they can get rid of Golden. But anyone hired before then must not be named Head Coach. That is in the contract, and I have read several articles on it, as a lawyer, and as Canes fan for 45 years, that is what UM did to itself when it renewed Golden's contract. So we stuck until next year. That is why Blake talks about evaluating after the season.
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Please ban this person.
 
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He is NOT Guaranteed any money until then! Are you STUPID??????????????? I mean really dude, you are CLUELESS. Contracts are about money. I would NEVER EVER be your CLIENT!!!!!!!!!!!!! You would sign a client to ask a business to pay you on a promise and not on a guarantee. Terrible. You guarantee the client his money, and that occur until February 20, 2016. What part of the guaranteed date that you don't understand. Why do you THINK Blake doesn't pull the trigger until THEN? It is money only.
 
SJMPARMAN said:
He is NOT Guaranteed any money until then! Are you STUPID??????????????? I mean really dude, you are CLUELESS. Contracts are about money. I would NEVER EVER be your CLIENT!!!!!!!!!!!!! You would sign a client to ask a business to pay you on a promise and not on a guarantee. Terrible. You guarantee the client his money, and that occur until February 20, 2016. What part of the guaranteed date that you don't understand. Why do you THINK Blake doesn't pull the trigger until THEN? It is money only.
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Stop posting.
 
I don't care if this place bans me. I do care about UM football enough to not want to be banned. But if it happens, well so be it. But I am a really, really good attorney. I know the law, and my opponent made statements that were contrary to every legal precepts known to anyone who KNOWS law. This guy doesn't. Sorry for him. He hasn't proved anything I said was factually incorrect. In fact, from what I have read, after reading forty years of things about Hurricanes football, and that is as long as I have been a fan, his statements are incorrect. I am an expert on contractual law. Al's contract is unsustainable. Push has to come to shove and this is one of those times for the good of the program. It sucks but we have to do it.
 
Just to be clear, can ANYONE conclusively DENY the February 20, 2016 date for no buy out??? I think not but would like someone to confirm or deny?
 
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