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re: Should Gus accept 2 million a year for the next 20 years
Posted on 10/18/18 at 11:29 am to DyeHardDylan
Posted on 10/18/18 at 11:29 am to DyeHardDylan
quote:
Boosters are apparently willing to go to court to adjust his buyout
auburn is awesome
LSU should have done this with miles.
2
Posted on 10/18/18 at 11:30 am to DawgsLife
quote:
One offered by the party trying to get out of it.
There may be other circumstances involved. There are clauses in all those contracts as well.
Posted on 10/18/18 at 11:31 am to CCTider
but it could drag out for years. how long would gus be willing to fight. might be easier for him to take a reduction and move on with his life. i'm sure auburn has the time and resources to stretch this out as long as possible.
Posted on 10/18/18 at 11:32 am to GlossuRabban
quote:
There may be other circumstances involved
Posted on 10/18/18 at 11:33 am to jb4
No because he could take his buyout out and invest it in a 1 year CD or something safe and then when rates rise 2-3 times next year he could put it in an annuity and get more money annually for 20 years than the 2 million.
Posted on 10/18/18 at 11:35 am to GlossuRabban
This post was edited on 10/18/18 at 11:36 am
Posted on 10/18/18 at 11:36 am to yatesdog38
level payments annually should be roughly 2.7 million dollars assuming a 2% interest rate.
Posted on 10/18/18 at 11:36 am to 1999
quote:
but it could drag out for years. how long would gus be willing to fight. might be easier for him to take a reduction and move on with his life. i'm sure auburn has the time and resources to stretch this out as long as possible.
Unless they feel EXTREMELY confident they could win, fighting contracts like this and dragging it out would be beyond comprehensible. Courts usually award interest rates between 6 and 8 percent + penalties for delaying contract fulfillments. Add that to the costs of attorneys for both parties if they eventually lose and you will understand why most teams choose to just pay the buy-outs and move on.
Posted on 10/18/18 at 11:36 am to Bankshot
When Boogs go in to talk to GusBus about the contract he should say the contract is in force and I am not changing it in any way.
PAY me the MONEY
PAY me the MONEY
Posted on 10/18/18 at 11:37 am to UliKunkel
quote:
The Mets gave Bobby a 5.1% interest rate on his deferred salary. If Gus deferred the 32m buy-out over a 20 year period at 5.1% they would need to pay him annual payments of $4,326,875... They would end up paying him over $86m for the buy-out including interest.
Yes, you're right. But, I think Gus would negotiate it to stay in good graces with the Auburn higher-ups and fans. Bobby Bonilla could have cared less what Mets fans like myself think about him.
Posted on 10/18/18 at 11:38 am to jb4
Should work with Bobby Bonilla on that
Posted on 10/18/18 at 11:39 am to Bankshot
quote:
I think Gus would negotiate it to stay in good graces with the Auburn higher-ups and fans
good point
he wants to feel loved when he comes back to visit
he could do that and create the "mistreatment" narrative all at once - he's that good at self promo
Posted on 10/18/18 at 11:43 am to Bankshot
Can Bobby Bo run the Nik Marshall offense? Does he have any eligibility left? Sign him up
Posted on 10/18/18 at 11:45 am to Herman Frisco
I love coach firing season
I love it even more when Gus is in trouble
Kansas Jayhawks baby! Or, he will take a year off and his minion cult will dutifully call into radio shows all next year and create a Gus Sweepstakes narrative.
I love it even more when Gus is in trouble
Kansas Jayhawks baby! Or, he will take a year off and his minion cult will dutifully call into radio shows all next year and create a Gus Sweepstakes narrative.
Posted on 10/18/18 at 11:52 am to Harry Rex Vonner
GusBus will take all that money and buy a Olive Grove in Tuscany Italy and sit on his arse for ever.
Posted on 10/18/18 at 11:54 am to GlossuRabban
quote:
There may be other circumstances involved. There are clauses in all those contracts as well.
Clauses that specify bad behavior which Gus isn't qualifying for.
The only angle you got is to try the eminent domain trick Texas Tech used to screw over Mike Leach, I am pretty sure Alabama has those laws on the books.
But that made it really hard for Tech to hire and keep coaches that were not alumni for a decade, which is a obvious consequence of doing that. Tubbs left for a non Power 5 job because of that shite.
There are no easy answers. Welcome to what every other program not named Auburn faces when they are stuck with a coach.
Hell we can afford a $75 million coach and even we let Sumlin have a final wasted year so that way we wouldn't have to cheap out on Jimbo's staff.
Posted on 10/18/18 at 11:57 am to DownSouthJukin
quote:
He has a $31.2 mill buyout at the end of the season, and it is most likely subject to quite a bit of offset. Accepting $40 mill over 20 years and being able to take other coaching jobs without any offset would be very nice.
Apparently not.
LINK
quote:
In addition, AL.com has learned there is no offset or mitigation language in the contract. That means the amount of money Auburn would owe Malzahn should it dismiss him would not be reduced by any salary he would make at his next job.
According to the numbers here, if Malzahn is fired after this year, Auburn is on the hook for $31,725,000 (might be off a bit). Fifty percent ($15,682,000) is due within 30 days and then the remainder is due in 4 equal annual amounts of $3,965,625.
With that payout structure and no offset language, there is no way he accepts that offer.
This post was edited on 10/18/18 at 12:01 pm
Posted on 10/18/18 at 11:59 am to cardboardboxer
how do you know what Gus has or has not been doing back in the Waffle House stock room?
Posted on 10/18/18 at 12:06 pm to Harry Rex Vonner
quote:
eminent domain trick Texas Tech used
can you elaborate?
I would imagine that any underhanded efforts by a University to avoid paying what was promised can only hamper its efforts to sign the next coach.
Posted on 10/18/18 at 12:11 pm to 1999
If Auburn claims they fired him with cause, Gus' only recourse would be to sue Auburn in the court system. In Court, Auburn then can claim sovereign immunity.
Auburn wouldn't argue whether or not they did Gus dirty, they'd argue that Gus doesn't have the right to sue the government.
This is exactly what Texas Tech did to Mike Leach. A decade later, Leach is still trying and losing lawsuits to get his money.
Auburn wouldn't argue whether or not they did Gus dirty, they'd argue that Gus doesn't have the right to sue the government.
This is exactly what Texas Tech did to Mike Leach. A decade later, Leach is still trying and losing lawsuits to get his money.
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