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re: Brian Kelly's LSU contract: Six-figure bonuses, two cars, $1.2 million house loan
Posted on 12/1/21 at 10:53 am to TigerLunatik
Posted on 12/1/21 at 10:53 am to TigerLunatik
Wait. So IF your AD is fired or jumps, then he could take Kelly with him and Kelly wouldn’t have to pay A CENT TO LSU?!
How is that contract not set up for them to Bonnie and Clyde to a higher paid offer if they want. Your AD himself just guaranteed a massive personal raise. “Listen I have a job offer, and if I go and take Kelly, you’ll lose millions of his buy out…or you can just give me the raise.”
How is that contract not set up for them to Bonnie and Clyde to a higher paid offer if they want. Your AD himself just guaranteed a massive personal raise. “Listen I have a job offer, and if I go and take Kelly, you’ll lose millions of his buy out…or you can just give me the raise.”
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Posted on 12/1/21 at 10:59 am to TigerLunatik
quote:
LSU also agreed to give Kelly two courtesy vehicles or two car allowances worth $1,000 a month, an interest-free loan up to $1.2 million in order to buy a house, 50 hours of travel per year on private planes, relocation funds and the cost of Kelly's buyout at Notre Dame, which is not specified because it’s a private school.
Wow! just wow. I would be more than happy just to get an interest-free loan on my home mortgage.
Posted on 12/1/21 at 11:14 am to JColtF
quote:
Nonsense, we'll just have him arrested for something and fire him for cause
After seeing that package pic yesterday, we can charge him with assault with a deadly weapon for boning his wife.
Posted on 12/1/21 at 11:19 am to BamaGradinTn
quote:More like a Rosy Finch Boyz clause.
So...a Gene Chizik clause?
So, hypothetically speaking, if Kelly's career follows Eaux's trajectory (NC in year 3 followed by collapse to mediocrity in years 4-5 and termination without cause), they would pay him (assuming $50,000 annual raise no matter what):
2022: $ 9,500.000 (base + bowl bonus)
2023: 10,050,000 (base + bowl bonus + longevity bonus)
2024: 10,850,000 (base + bowl bonus + longevity bonus + SECC bonus + NC bonus)
2025: 10,400,000 (base + longevity bonus + SECC bonus + NC bonus) *assuming no bowl
2026: 10,950,000 (base + bowl bonus + longevity bonus + SECC bonus + NC bonus)
Buyout at end of 2026 season: $ 47,000,000 plus prorated longevity bonus - no idea what that would be
So, if Kelly is as successful as Eaux, LSU is on the hook for at least $98,750,000. And that's if the 'permanent' bonuses for winning an SECC and NC in year 3 are not factored into the buyout (if they were, it would add another $3,750,000 to that figure).
Just damn.
This post was edited on 12/1/21 at 11:21 am
Posted on 12/1/21 at 11:21 am to TigerLunatik
Dude is gettin’ paid!
Take it we don’t see da addendum for da hookers and blow?
Take it we don’t see da addendum for da hookers and blow?
Posted on 12/1/21 at 11:24 am to TigerLunatik
quote:
He also receives $500,000 if LSU makes a bowl game
This is a Kansas level incentive right here
Posted on 12/1/21 at 12:40 pm to texag7
quote:
Why would a person making $9 million per year take out a loan to buy a house?
You should really stop posting.
Posted on 12/1/21 at 12:43 pm to deeprig9
quote:
Maybe I'm just stupid but I've never heard of a coach having to pay a buyout back to a school before. Is that really a thing?
Yes it's a thing, just not as common as it used to be. Regardless, his buyout for leaving is so small compared to the contract it's almost meaningless. It's 4 million if he leaves before January 1, 2023, and 2 million after that for the rest of the contract
Posted on 12/1/21 at 12:45 pm to texag7
quote:
What’s the point in doing all the extra paperwork
Maintaining more liquidity in your portfolio. 20 minutes of signing paperwork is worth a 0% interest loan on 1.2 million dollars.
Posted on 12/1/21 at 12:48 pm to Frac the world
quote:
This is a Kansas level incentive right here
I think it was likely put there as a way to shield the optics of what the contract actually is. He will receive a $500k longevity bonus every year. Paul Mainieri had similar clauses in his contract, they were just much smaller amounts of money for obvious reasons
Posted on 12/1/21 at 12:50 pm to TigerLunatik
Good God
Posted on 12/1/21 at 12:52 pm to JColtF
quote:
Nonsense, we'll just have him arrested for something and fire him for cause
quote:Checks out.
Shreveport, LA
Posted on 12/1/21 at 12:52 pm to TigerLunatik
quote:
an interest-free loan up to $1.2 million in order to buy a house
Wouldn't even cover a 2 bedroom in El Cid.
Posted on 12/1/21 at 1:01 pm to texag7
quote:And you just told everyone you are poor.
Why would a person making $9 million per year take out a loan to buy a house?
Posted on 12/1/21 at 1:11 pm to LSURulzSEC
quote:quote:
This is why Riley told LSU no.
Yeah ok…
Sorry that your third choice told you to frick off. Look it up, homey.
USC buying a home for Riley, reportedly for $6MM (which admittedly sounds ridiculous). LSU can only afford an interest free loan of $1.2MM for BK.
USC: Unlimited use of a private jet 24/7. LSU giving BK 50 hours of flying time on a crop duster annually. Not sure if BK gets 50 hours for the remainder of 2021. Probably not.
Not sure about the details of Riley’s chauffeur-driven limos in LA, but LSU has ponied up two company cars or a $1000 a month stipend for two cars of BK’s choosing. For that money, I’d forgo the LSU-issued Impala and Malibu and get a couple of suh-weet Dodge Chargers with all of the options.
Posted on 12/1/21 at 1:13 pm to Sid E Walker
quote:
Sorry that your third choice told you to frick off.
Our third choice just finished is introductory press conference.
Posted on 12/1/21 at 1:17 pm to JColtF
Woody just did that in case he wanted to poach Jimbo to LSU. Jimbo has been mediocre though, so Woody got a winning coach instead.
Posted on 12/1/21 at 1:18 pm to TigerLunatik
2-18 lifetime vs Top 10 programs…good luck LSU.
Posted on 12/1/21 at 1:36 pm to TigerLunatik
quote:
If LSU fires Kelly without cause, the school will owe him 90% of his remaining salary.
So if he sucks, you guys have those doctored pictures of him prepped?
Posted on 12/1/21 at 1:47 pm to skrayper
S is on the case now. He's got the latest version of Photoshop loaded and ready to go.
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