Pastner Contract

GT_Inta-neer

GT_Inta-neer

Georgia Tech Fan
Messages
31
cyptomcat said:
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
Click to expand...

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

cyptomcat

Ramblin' Wreck
Messages
866
GT_Inta-neer said:
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.
Click to expand...
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

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

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

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

cyptomcat

Ramblin' Wreck
Messages
866
SwarmArmy said:
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."
Click to expand...

Yup, and he clarified that the $1.255 million from Memphis is on top of that.
 
slugboy

slugboy

Moderator
Staff member
Messages
11,491
RamblinRed said:
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.
Click to expand...
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.
 
Top