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Brian Kelly's LSU contract: Six-figure bonuses, two cars, $1.2 million house loan
Posted on 12/1/21 at 9:56 am
Posted on 12/1/21 at 9:56 am
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While Kelly’s contract will pay him $95 million total in base salary, a longevity bonus will push his total compensation to at least $100 million over the life of the 10-year contract, which made him the first coach at a public school with a nine-figure deal.
Kelly’s salary will start at $9 million per year his first season. It then rises in increments through 2031.
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LSU added incentives that will easily raise Kelly’s total compensation. The longevity bonus will pay him $500,000 every year as long as he remains LSU's coach on July 1. He also receives $500,000 if LSU makes a bowl game
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The contract has other bonuses based on Kelly’s performance. After LSU's first SEC championship, his annual compensation will increase by $250,000 for the remainder of the contract. And if LSU wins a national title, his base salary will increase by an additional $500,000 for the rest of the deal.
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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.
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If LSU fires Kelly without cause, the school will owe him 90% of his remaining salary. However, it will owe him his entire remaining salary and the prorated longevity bonus if LSU fires him without cause after Kelly has won a national championship. LSU won't have to pay Kelly if it fires him for cause.
Kelly and athletic director Scott Woodward's contracts are also now tied together.
If Kelly leaves LSU while Woodward is still the athletic director, he would owe $4 million in 2022, $3 million in 2023 and $2 million any other year left in the contract. Kelly would not have to pay a buyout if Woodward is no longer athletic director when he leaves LSU.
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Posted on 12/1/21 at 9:58 am to TigerLunatik
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Brian Kelly's LSU contract: Six-figure bonuses, two cars, $1.2 million house loan
It also includes a penalty if he leaves early, something that was absent in Woodward's last Football HC contract
Posted on 12/1/21 at 9:59 am to TigerLunatik
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If LSU fires Kelly without cause, the school will owe him 90% of his remaining salary. However, it will owe him his entire remaining salary and the prorated longevity bonus if LSU fires him without cause after Kelly has won a national championship. LSU won't have to pay Kelly if it fires him for cause.
Y'all marched into the casino and put the house on red.
Posted on 12/1/21 at 10:00 am to BreakawayZou83
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Y'all marched into the casino and put the house on red.
Nonsense, we'll just have him arrested for something and fire him for cause
Posted on 12/1/21 at 10:01 am to TigerLunatik
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?
Posted on 12/1/21 at 10:01 am to TigerLunatik
Those are some interesting components. It’s obviously a very attractive contract.
A true testament to our children’s hospital operational expansion in recent months.
A true testament to our children’s hospital operational expansion in recent months.
Posted on 12/1/21 at 10:02 am to TigerLunatik
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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
This is why Riley told LSU no.
Posted on 12/1/21 at 10:02 am to TigerLunatik
Who are the boosters that are putting this money up?
Graves, Landry, Stanga, Robertson?
Graves, Landry, Stanga, Robertson?
Posted on 12/1/21 at 10:03 am to TigerLunatik
Live look at Scott Woodward during contract negotiations:
Posted on 12/1/21 at 10:05 am to kywildcatfanone
Lipsey
Posted on 12/1/21 at 10:05 am to BreakawayZou83
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Y'all marched into the casino and put the house on red.
Posted on 12/1/21 at 10:06 am to TigerLunatik
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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.
When $95M isn't enough to buy your own car or house.
These contracts really are clown world stuff.
Posted on 12/1/21 at 10:06 am to DownSouthJukin
Is that what Leach looked like after the LSU loss this year?
Posted on 12/1/21 at 10:09 am to TigerLunatik
Why would a person making $9 million per year take out a loan to buy a house?
Posted on 12/1/21 at 10:12 am to texag7
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Why would a person making $9 million per year take out a loan to buy a house?
So you would buy a house outright as opposed to an 0.0% loan?
Posted on 12/1/21 at 10:12 am to SouthernInsanity
If I had the money duh. What’s the point in doing all the extra paperwork
Posted on 12/1/21 at 10:14 am to Sid E Walker
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This is why Riley told LSU no.
Yeah ok…
Posted on 12/1/21 at 10:14 am to SouthernInsanity
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So you would buy a house outright as opposed to an 0.0% loan?
Don't try to explain complex things like basic financial math to Daniel
Judging by his smile he still hasn't figured out dental hygiene
This post was edited on 12/1/21 at 10:16 am
Posted on 12/1/21 at 10:15 am to TigerLunatik
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However, it will owe him his entire remaining salary and the prorated longevity bonus if LSU fires him without cause after Kelly has won a national championship.
So...a Gene Chizik clause?
Posted on 12/1/21 at 10:15 am to texag7
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Why would a person making $9 million per year take out a loan to buy a house?
I have no idea. Maybe has something to do with how his income is taxed? I don't mind admitting that I've never been in a situation to either write a contract like this nor sign one.
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