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Posted on 11/28/20 at 9:48 pm to Rig
Well that is not correct. We owed the moron $36 million total. He has been paid 3 year of salary now at $7 million per year which is $21 million. So how do you still owe $27 million?
Posted on 11/28/20 at 9:50 pm to AUCE05
Not much. I’d say around a couple thousand average maybe and that may be high.
This post was edited on 11/28/20 at 9:51 pm
Posted on 11/29/20 at 12:58 am to McCalebbUpTheMiddle
quote:
Isn’t Steele basically coaching for his state of AL retirement?
I have no idea what the AL retirement plan is, but Steele's latest contract pegs him at 2.6 million a year, and he has been making high, and I mean high six figures for a couple of decades....I dont think he is concerned about a pension check.
He is a very good coach and has proved it over and over again. You have to have some help from the other side of the ball.
I checked, looks like he is vested and his retirement would be close to 700 grand, now that is a nice pension.
This post was edited on 11/29/20 at 1:15 am
Posted on 11/29/20 at 6:41 am to CaptainBrannigan
quote:Look at the date the OP was posted ya buffoon
Well that is not correct. We owed the moron $36 million total. He has been paid 3 year of salary now at $7 million per year which is $21 million. So how do you still owe $27 million?
Posted on 11/29/20 at 10:10 pm to trinidadtiger
State Retirement benefit tops out way below that. His salary for the 'average highest 3 of the final 10' would only be considered up to somewhere in the 300k-ish range. He wouldn't get 700k per year, more like 150k bc of age/years of service
Posted on 11/29/20 at 10:17 pm to AUjim
I have explained this numerous times. I also tried to explain how returns from his investments will be way more than any retirement funds, but they don't understand.
Posted on 11/30/20 at 5:29 am to Rig
I checked the couch cushions, but I’m still short over 26 million.
Posted on 11/30/20 at 6:48 am to Rig
quote:
Look at the date the OP was posted ya buffoon
Ok. But it still was not correct even last year.
Posted on 11/30/20 at 8:31 am to CaptainBrannigan
Gustav’s deal went into effect on 1/1/18 and runs through 12/31/24. That’s 7 years.
To keep the math as simple as possible, lets assume he makes an even $7 million every season. That means at the end of this calendar year AU will have paid him 3 years ($21 million) and have him under contract for 4 more ($28 million).
His buyout is 75% of his remaining deal, so that means if we fire him as of 1/1/21 we would owe him $28 million X .75 = $21 million, of which $10.5 million would be due by 1/31/21, the rest paid in monthly installments over the remaining 4 years.
tl;dr its easy to spend other people’s money.
To keep the math as simple as possible, lets assume he makes an even $7 million every season. That means at the end of this calendar year AU will have paid him 3 years ($21 million) and have him under contract for 4 more ($28 million).
His buyout is 75% of his remaining deal, so that means if we fire him as of 1/1/21 we would owe him $28 million X .75 = $21 million, of which $10.5 million would be due by 1/31/21, the rest paid in monthly installments over the remaining 4 years.
tl;dr its easy to spend other people’s money.
Posted on 11/30/20 at 8:41 am to FearlessFreep
quote:
of which $10.5 million would be due by 1/31/21
Get out that checkbook, Yella Fella.
Posted on 11/30/20 at 8:49 am to McCalebbUpTheMiddle
quote:
a defense that’s not as dominant
I was very confused until I realized this had been bumped
Posted on 11/30/20 at 9:15 am to Rig
Options:
1) Keep Malzahn for 4 years for $28 mil
2) Fire Malzahn ($21.5 mil), Hire new coach for a $20 mil - 4 year contract. $41.5 mil total for next 4 years.
3) Wait a year, Malzahn makes $7 mil next year, buyout would be $16.2 mil ($23.2 Total), hire new coach for $5 mil/year. $38.2 mil total for next 4 years.
This does not include assistants.
To me, the wait a year for buyout argument, is dumber than the argument of we can't get a better coach than Malzahn argument.
1) Keep Malzahn for 4 years for $28 mil
2) Fire Malzahn ($21.5 mil), Hire new coach for a $20 mil - 4 year contract. $41.5 mil total for next 4 years.
3) Wait a year, Malzahn makes $7 mil next year, buyout would be $16.2 mil ($23.2 Total), hire new coach for $5 mil/year. $38.2 mil total for next 4 years.
This does not include assistants.
To me, the wait a year for buyout argument, is dumber than the argument of we can't get a better coach than Malzahn argument.
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