Is Penn State on the hook for Vandy's upgrades?

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Vandy

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smart bastards

holy shite. the smart guys strike again

Penn State feels comfortable enough with it that they're letting it leak like crazy that Franklin's their man. I wouldn't be surprised if there's a way for them to get out of it though.

Since Vanderbilt is a private school and doesn't have to release the terms of a contract, I'm not sure how the terms are actually written up. However, what I'd heard was it was a percentage of the upgrades, most likely one which decreases over time. However, even at 10%, that's essentially a 3.1 million dollar buyout clause...without having a buyout clause. That part would likely help it hold up in court. I'm not a lawyer, but buyout clauses are a way OUT of a contract. The clause requiring his destination school being within the framework of the contract would probably make it stand up in court even if it was something like 50% (so a 15.5 million dollar payout to Vanderbilt). Again, not a lawyer or law student, so my thoughts and analysis probably aren't perfect.

But when your AD is a reknowned tax and sports law professor, things like a coach's contract are going to be very well done. David Williams earns my respect every day...except for when I realize he won't fire Stallings then he loses it for about 15 minutes.

If Franklin signed a contract like that then he and his agent would be two of the biggest idiots on the planet. A standard buy out clause is much more likely but if he was that dumb and PSU dumb enough to pay then

I had thought about this situation of having to pay for upgrades before PSU made the offer, but it hadn't crossed my mind since then. Maybe this is the hold up until the meeting Saturday morning since that will be a significant cash payment to make for a coach. It's certainly not beyond PSU, but fact it is likely a multimillion lump sum probably requires a certain level of authorization from the university.

The indoor facility was a project Franklin shoved along. He had to concede it being multisport to get the funding. It's his toy that he has to let others play with, but that fact could lower the costs slightly for PSU.

As for Franklin and his agent being dumb, both knew any program he'd want to leave for would be willing to pay up to get him. Almost every coach has a buyout clause. His is just fancily written.

The author cites no source. The author doesn't even give his name. Franklin's contract with Vandy isn't public record, since Vandy is a private institution. Until I see a credible source, I'm calling bullshite on this whole story. But if true it's pretty funny, so I'll be happy to eat crow if it proves to be true.

This is likely the holdup as PSU BOT decides if this buyout is worth it. Either way, he's gone as VCDW is playing hardball on this.

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It's certainly not beyond PSU, but fact it is likely a multimillion lump sum probably requires a certain level of authorization from the university.

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Penn state football as a market had taken a huge hit in the last two years. It's not rolling in money as it once once. I'm pretty sure a lot of the payouts to victims came from the athletic budget or it sure the frick should have. They should have also attacked the alumni association for funds to pay for damages.