Pastner Contract

GT_Inta-neer

Georgia Tech Fan
Messages
28
This is the only official info out so far:

"The University of Memphis will pay Josh Pastner $1.255 million over two years as a contract settlement, president M. David Rudd told The Commercial Appeal this afternoon."

http://www.commercialappeal.com/spo...-name-Pastner-head-coach-today-375027931.html

This makes it sound like we are paying him about $2 million a year. He was getting $2.65 million, so two years of that less the $1.255 leaves about $2 million a year. I really hope the $1.255 is not making up the difference in salary for more than two years. We should not be paying him more than $2 million a year. Now I just want to hear the length of the contract and about any buyout terms.
 

cyptomcat

Ramblin' Wreck
Messages
866
This makes it sound like we are paying him about $2 million a year. He was getting $2.65 million, so two years of that less the $1.255 leaves about $2 million a year. I really hope the $1.255 is not making up the difference in salary for more than two years. We should not be paying him more than $2 million a year. Now I just want to hear the length of the contract and about any buyout terms.
He had a guaranteed contract for $10.6 million over next 4 years. He wouldn't agree to anything less than that. So we must have given him at least $10.6 - $1.255 = $8.745 million guaranteed over 4 or more years...
 

cyptomcat

Ramblin' Wreck
Messages
866
If Pastner is getting the same guaranteed pay ($10.6 million), then he moved to get out of an uncomfortable situation helping both UM and GT instead of waiting a year or two to get a lump sum of free money.

I already like the guy for that. I wish Hewitt did the same taking the St. Johns offer...
 

cyptomcat

Ramblin' Wreck
Messages
866

If it's about $9 million over 6 years, that's about $1.5 million a year.

It means buyout affordable in 4 years when a decision can be made...
 

SwarmArmy

Ramblin' Wreck
Messages
656
6-years, $11 million.

"Josh Pastner's deal at Georgia Tech expected to be six years at $11 million overall. Salary will climb each year. He had four years left at Memphis at $10-plus million. So yes this is a much better deal. Pastner was in Little Rock, Ark, recruiting Wednesday when he got the call. He has been with Georgia Tech officials the past 30-plus hours figuring out deal."
 

cyptomcat

Ramblin' Wreck
Messages
866
6-years, $11 million.

"Josh Pastner's deal at Georgia Tech expected to be six years at $11 million overall. Salary will climb each year. He had four years left at Memphis at $10-plus million. So yes this is a much better deal. Pastner was in Little Rock, Ark, recruiting Wednesday when he got the call. He has been with Georgia Tech officials the past 30-plus hours figuring out deal."
Yup, and he clarified that the $1.255 million from Memphis is on top of that.
 

slugboy

Moderator
Staff member
Messages
4,101
That's very affordable. Pleased about that.
Wonder what the buyout is. if we are smart it starts to decrease significantly in yrs 3 and 4.
If MBob hasn't learned buyouts yet, then he's a slow learner. I would guess that's a solid part of the contract.
And even if he MBob isn't watching that, I'm sure Peterson is.
 
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