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Are you pleased with the hire (poll)
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<blockquote data-quote="bravejason" data-source="post: 511306" data-attributes="member: 1069"><p>While not said, a possible reason for a 7 year contract is to compensate for the lower annual salary. That does presume you believe Collins should be paid about $3.8M/yr if he was in a five year contract. (Assuming the actual contract salary is $2.75M/yr).</p><p></p><p>I'm not concerned about the length as much as I am the buyout. For example, if the buyout is a fixed fee of $100k, then what do you care about the length? What we've seen in the past is that the buyout is for the remaining money in the contract. In that case GT owes Collins about $19M. He can coach for seven years and be released at no cost to GT and or he can coach for four years and GT writes a check for $8M when he's let go. Hopefully, the buyout declines rapidly over the term such that after four years, it's a relatively small amount (e.g., $1M).</p></blockquote><p></p>
[QUOTE="bravejason, post: 511306, member: 1069"] While not said, a possible reason for a 7 year contract is to compensate for the lower annual salary. That does presume you believe Collins should be paid about $3.8M/yr if he was in a five year contract. (Assuming the actual contract salary is $2.75M/yr). I'm not concerned about the length as much as I am the buyout. For example, if the buyout is a fixed fee of $100k, then what do you care about the length? What we've seen in the past is that the buyout is for the remaining money in the contract. In that case GT owes Collins about $19M. He can coach for seven years and be released at no cost to GT and or he can coach for four years and GT writes a check for $8M when he's let go. Hopefully, the buyout declines rapidly over the term such that after four years, it's a relatively small amount (e.g., $1M). [/QUOTE]
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Are you pleased with the hire (poll)
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