Home
Articles
Photos
Interviews
Forums
New posts
Search forums
Georgia Tech Recruiting
Dashboard
What's new
New posts
New profile posts
Latest activity
Chat
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Georgia Tech Athletics
Georgia Tech Basketball
CBG buyout = $2.4 million
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="TechPhi97" data-source="post: 140582" data-attributes="member: 158"><p>Back to the original question - the OP has stated that there are only a handful of people that know what is going on, and that they would know the specifics of the buyout. OP, does that mean that you know the specifics of the buyout and you agree with the AJC?</p><p></p><p>I have the numbers laid out in a spreadsheet and to me it looks like the AJC might have overlaid the buyout from the original contract on top of the extension and re-started the buyout percentage when, in fact, the number was simply carried forward. In the original contract the buyout was 75% for '14-'15, and then 50% for the final two years. Total buyout of $1MM for '15-'16 and '16-'17. I would be shocked if his buyout moved to $2.4MM with the extension, especially considering performance. If that's the case, it was a huge f-up. But I just don't see that being true.</p><p></p><p>The $650,000 number being floated around is 60% of the annual value of the current contract; to me it makes sense that maybe the buyout was increased to 60% of contract value for the final three years. If that's the case then we're paying $1.345MM per year to two coaches if we fire him. Still terrible, but less than the $1.8MM it could be.</p><p></p><p>The other factor people aren't considering is that we probably got donations to handle Hewitt's contract. If that number is already covered by commitments or what is in the bank, then it doesn't factor into the discussion.</p></blockquote><p></p>
[QUOTE="TechPhi97, post: 140582, member: 158"] Back to the original question - the OP has stated that there are only a handful of people that know what is going on, and that they would know the specifics of the buyout. OP, does that mean that you know the specifics of the buyout and you agree with the AJC? I have the numbers laid out in a spreadsheet and to me it looks like the AJC might have overlaid the buyout from the original contract on top of the extension and re-started the buyout percentage when, in fact, the number was simply carried forward. In the original contract the buyout was 75% for '14-'15, and then 50% for the final two years. Total buyout of $1MM for '15-'16 and '16-'17. I would be shocked if his buyout moved to $2.4MM with the extension, especially considering performance. If that's the case, it was a huge f-up. But I just don't see that being true. The $650,000 number being floated around is 60% of the annual value of the current contract; to me it makes sense that maybe the buyout was increased to 60% of contract value for the final three years. If that's the case then we're paying $1.345MM per year to two coaches if we fire him. Still terrible, but less than the $1.8MM it could be. The other factor people aren't considering is that we probably got donations to handle Hewitt's contract. If that number is already covered by commitments or what is in the bank, then it doesn't factor into the discussion. [/QUOTE]
Insert quotes…
Verification
Who made "The Leap" to defeat u(sic)GA in COFH 2016?
Post reply
Home
Forums
Georgia Tech Athletics
Georgia Tech Basketball
CBG buyout = $2.4 million
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…
Top