Can someone explain this? CWM buyout.

#1
TacomaJPP

TacomaJPP

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#1
So, CDD has a $5M buyout. It appears Will Muschamp has a $500k buyout???

Florida football coach Will Muschamp's contract details unveiled

However, the wording in the article does not say the buyout is for being fired but rather leaving for another job. Does that mean he pays UF $500k if he terminates his contract early for another coaching position? Am I reading that right?

If the $500k is the same type of buyout as CDD, why was that deal given? Was getting someone here at that time really that difficult? However, a buyout clause isn't money you see unless it is invoked.

Thoughts.

TIA.

(Apologies if this has been discussed)
 
#2
#2
100113-mike-hamilton-200cfb.jpg
 
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#3
#3
TacomaJPP said:
So, CDD has a $5M buyout. It appears Will Muschamp has a $500k buyout???

Florida football coach Will Muschamp's contract details unveiled

However, the wording in the article does not say the buyout is for being fired but rather leaving for another job. Does that mean he pays UF $500k if he terminates his contract early for another coaching position? Am I reading that right?

If the $500k is the same type of buyout as CDD, why was that deal given? Was getting someone here at that time really that difficult? However, a buyout clause isn't money you see unless it is invoked.

Thoughts.

TIA.

(Apologies if this has been discussed)
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They're different buyouts. The $500k would be paid by Muschamp or the school he left Florida for. He likely has a liquidated damages section in his contract that tells how much Florida owes him if they terminate him without cause.

I think DD has to pay $2 or $3 million if he leaves for another job.
 
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#4
#4
TennesseeOrange said:
They're different buyouts. The $500k would be paid by Muschamp or the school he left Florida for. He likely has a liquidated damages section in his contract that tells how much Florida owes him if they terminate him without cause.

I think DD has to pay $2 or $3 million if he leaves for another job.
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That's what I was thinking, but wasn't sure. Thanks.
 
#6
#6
TennesseeOrange said:
They're different buyouts. The $500k would be paid by Muschamp or the school he left Florida for. He likely has a liquidated damages section in his contract that tells how much Florida owes him if they terminate him without cause.

I think DD has to pay $2 or $3 million if he leaves for another job.
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Not sure this is accurate.
 
#10
#10
After Kiffin left as he did, the buy out became a big deal. In an attempt to keep from having another coach bail on us, we have sealed in our coach unless big time donors step in.
 
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#11
#11
alaVOL said:
After Kiffin left as he did, the buy out became a big deal. In an attempt to keep from having another coach bail on us, we have sealed in our coach unless big time donors step in.
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And that will only happen for one person. See y'all in the Gruden thread.
 
#12
#12
According to what I found Muschamp is owed $2 million for every year left on the contract if he's terminated without cause.
 
#13
#13
Actually, in his press conference right after Kiffin left, Mike Hamilton was asked why Kiffin had such a small buyout and he said something like, "Well, Jeremy Foley doesn't have big buyouts for his coaches, because he feels like if you don't want to be there, then he doesn't want you. I'm the same way." So Hamilton was trying to be Jeremy Foley when it came to Kiffin (well played, Mr. Foley...), but he decided to change his tune a couple weeks after that press conference and really lock us in long term on the guy that just went 4-8 in the WAC.
 
#14
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#15
#15
vols-1 said:
FYI, Dooley's original contract was extended by Hamilton. The $5 million buyout remains in place through Feb. 15, 2014.
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That is the buyout if Dooley is fired. Separate set of buyouts if Dooley resigns. Page 5&6 at the link I provided.
 
#16
#16
oregonvol said:
Actually, in his press conference right after Kiffin left, Mike Hamilton was asked why Kiffin had such a small buyout and he said something like, "Well, Jeremy Foley doesn't have big buyouts for his coaches, because he feels like if you don't want to be there, then he doesn't want you. I'm the same way." So Hamilton was trying to be Jeremy Foley when it came to Kiffin (well played, Mr. Foley...), but he decided to change his tune a couple weeks after that press conference and really lock us in long term on the guy that just went 4-8 in the WAC.
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Your memory is good. Dooley's buyout structure is due in large part to Hamilton's knee jerk reaction to criticism over Kiffy's low buyout. (Of course, no one on Volnation blasted Hamilton for Kiffy's buyout cause / low amount ($800k). Hamilton should have ignored the chorus and had a more conventional buyout in in the $2 million +/- range, not the current $4 million/$5 million buyout.
 
#18
#18
Some day, the true story of the hows and whys of the Dooley hiring will come to light. My guess is that the relationships that Vince has with some of UTK's boosters and some of the now-departed old guard in UTAD had more to do with it than anything else. I seriously doubt that Hamilton tabbed DD as a rising star who was due for elevation to the big stage.
 
#20
#20
VolunteerHillbilly said:
Some day, the true story of the hows and whys of the Dooley hiring will come to light. My guess is that the relationships that Vince has with some of UTK's boosters and some of the now-departed old guard in UTAD had more to do with it than anything else. I seriously doubt that Hamilton tabbed DD as a rising star who was due for elevation to the big stage.
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I've heard that Vince put a call into Hamilton. Whether or not it's true, who knows.
 
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