What is a contract?

[Pete]

I do not understand why a coach - any coach - would be extended nearly three years out from the end of the initial contract.

I could see an extension before a lame duck year, but two...three years? Fvck out of here.

Why extend contract?There might be some concern,Richt leaves for another HC job.Would not happen,
half of the Big 10 and Big 12 would hire him.

 

[caneworld]

I do not understand why a coach - any coach - would be extended nearly three years out from the end of the initial contract.

I could see an extension before a lame duck year, but two...three years? Fvck out of here.

The other extreme was PDee who ***ked Butch by not extending his contract even during his final year after the bowl game...

They offered it only after the Browns showed positive interest. .. and that to with minimal increase ( around 1.1M for 3 years) if remember correctly.

Browns offer was around 5 million.

 

[Empirical Cane]

a contract is when Luca Brasi knocks on your front door and you're a dumbass if you answer it .... capiche ?

+10.

Clever.

He sleeps with the fishes.

 

[cubin10]

The presumption is that there aren't many guys around who can do the job so the school has to make the offer pretty sweet or somebody else will just outbid them. This leads to thing like a promise to pay some/all of the remaining contract if they terminate the coach. It's like CEOs getting golden parachutes...they get fired and get paid extra money. There's usually a bit in there where the coach has to pay back the money if he takes another job.

No, Miami didn't need to spend that money...that's one of the things that has people ****ed at the AD. Richt wasn't going to take another job, so there was no good reason to renegotiate last year.

The McDonalds analogy doesn't work because there are many people to take your job, but very few to take Richt's.

I think the University wants to keep Richt, its' reputation supreme, and after going through NCAA and penalties, Nevin and Golden, they went for long term stability. JMO and some common sense.

 

[SPAMM]

Wait, why do they have to pay the remainder of the contract?

Is that a thing that is negotiated?

Who starts the negotiations? Is there leverage? Did Miami NEED to spend $12 million?

If I get fired from McDonald’s on January 3rd, I’m not paid for the remainder of the year; $12 and hour, 40 hours a week, 51.5 weeks. That’s just bad math. McDonald’s would go out of business.

You don't get paid because you don't have a contract stipulating otherwise.

 

[Ssoto0055]

Yes, they are free to fire him if they're willing to pay. It's not like he can just refuse to go.

That's not free. Your use of "if" denotes a contingency that both parties agreed to. Miami has to pay Richt for Richt to go away.

 

[Ssoto0055]

The other extreme was PDee who ***ked Butch by not extending his contract even during his final year after the bowl game...

They offered it only after the Browns showed positive interest. .. and that to with minimal increase ( around 1.1M for 3 years) if remember correctly.

Browns offer was around 5 million.

Contract for college coaches almost always have a clause allowing the coach to leave for an NFL job. An extension wouldn't have mattered in Butch's case.

 

[tcgrad1014]

Every time I hear about this dotard making $4,000,000 per year I want to punch something.

 

[CanesWooshWoosh]

The presumption is that there aren't many guys around who can do the job so the school has to make the offer pretty sweet or somebody else will just outbid them. This leads to thing like a promise to pay some/all of the remaining contract if they terminate the coach. It's like CEOs getting golden parachutes...they get fired and get paid extra money. There's usually a bit in there where the coach has to pay back the money if he takes another job.

No, Miami didn't need to spend that money...that's one of the things that has people ****ed at the AD. Richt wasn't going to take another job, so there was no good reason to renegotiate last year.

The McDonalds analogy doesn't work because there are many people to take your job, but very few to take Richt's.

I’m the chef de cuisine of opa locka’s ninth fastest growing franchise. Not an analogy.

 

[jhtheking]

As for why, because of money and security (we'll ignore the fact that nobody thought Richt was leaving for anything but retirement so extending made no sense from Miami's perspective). Miami had agreed to pay him $4 mil/year until 2020, then they agreed to pay that for 3 more years. I'm no math whiz, but that should be something like $12 mil more. And remember, if Miami wants to terminate Richt they'll have to pay all/most of what's left.

Beyond that, it's seldom as simple as $4 mil/year. There will be incentives for reaching a bowl game, final ranking, as well as a buy-out clause...sht like that. So I think the thing is closer to 80 pages than 2 lines.

The only reason I can think of for extending is so Richt can tell recruits "I'll be here your whole career". Not sure if that's a good thing anymore.

 

[caneworld]

Contract for college coaches almost always have a clause allowing the coach to leave for an NFL job. An extension wouldn't have mattered in Butch's case.

I agree but it showed such disrespect to someone who resurrected this program from the abyss.

 

[Canedude08]

The presumption is that there aren't many guys around who can do the job so the school has to make the offer pretty sweet or somebody else will just outbid them. This leads to thing like a promise to pay some/all of the remaining contract if they terminate the coach. It's like CEOs getting golden parachutes...they get fired and get paid extra money. There's usually a bit in there where the coach has to pay back the money if he takes another job.

No, Miami didn't need to spend that money...that's one of the things that has people ****ed at the AD. Richt wasn't going to take another job, so there was no good reason to renegotiate last year.

The McDonalds analogy doesn't work because there are many people to take your job, but very few to take Richt's.

Contracts are extended all the time in college sports, it's usually done for recruiting reasons. The point of the matter is, if you don't automatically roll the contract over to where the coach isn't going to be there in five years, you run the risk of that being used against you in recruiting. By that point, you might as well fire the guy if you don't see him being in your long term plans. Remember, it's not the yearly amount that the guy getting paid that matters, it's the buyout. Richt may not be getting 4 million per year remaining in the case of a buyout, there may be a negotiated amount. Look at Gus Malzahn as an example of that.