And actually I think it saves even more than 3.3MM. (Remember when I said that Ken doesn't always get factual details correct?) The original reporting when Collins was hired was that he would start at $3.0 million and increase by $100k per year for 7 years. If he was fired before four complete seasons, he would be due the entire contract. After four seasons, the buyout is $2.4 million per year. If that original reporting was correct:No I agree with you. Hard links with actual quotes are required, especially in this social media everybody-can-make-up-their-own-facts-to-suit-their-agenda world, and there are always too many people gullible enough to accept everything on the internet as fact, add their own warping to it, and pass it on to others. Reminds me of the old Telephone game from first grade to teach the importance of accurate listening and communication skills.
It could have been a quote from a presser but I cannot come up with a link either, so I have to accept the version you provided with verifiable link and quotes. Water under the bridge about having the money last fall though, and we are where we are now. $3.3MM cash saved if they wait to make the move in December.
After three years he had been paid $3.0 + $3.1 + $3.2 = $9.3 million. The entire contract was for $23.1 million. At the end of last year, he would have been owed $13.8 million.
After this year, he would be owed $2.4 million/year for three years, or $7.2 million.
The difference between firing him last year and firing him this year is more like $6.6 million than $3.3 million.