Did anyone happen to notice Jimbo Fisher's buyout?

[Freak]

It's $45 million. And no that's not a typo. If FSU decided to try to run him off, they'd owe him forty-five million dollars.

Can someone give me a scenario of why he's worth that much?

 

[BAJAvol]

That may be the dumbest athletic department in the country. He is an excellent coach and recruiter; but what is going to happen if he takes a nose dive like CPF in 2-3 years? No school could afford to fire him and his staff without bankrupting themselves.

 

[05_never_again]

That may be the dumbest athletic department in the country. He is an excellent coach and recruiter; but what is going to happen if he takes a nose dive like CPF in 2-3 years? No school could afford to fire him and his staff without bankrupting themselves.

Saw that scroll across my screen last night. Contract going through '24 was the only detail they provided but I assumed the buyout was astronomical.

My only guess is that they are still scared to death he still wants to eventually bolt to LSU or another job and an enormous buyout might dissuade another school from hiring him.

Based on the money they are paying him, they clearly are assuming, which is fairly presumptive, that they won't need/have to fire him.

 

[LSU-SIU]

It's $45 million. And no that's not a typo. If FSU decided to try to run him off, they'd owe him forty-five million dollars.

Can someone give me a scenario of why he's worth that much?

Not surprised. The guarantee money he was requesting from LSU was north of $50 million with a total contract worth around $100 million. From a money perspective I don't think it does make sense.

 

[05_never_again]

Why exactly does Jimbo go off and flirt with other schools quite often? Is it 100% a ruse to get a contract bump, or is he actually unhappy in some way at FSU? Some of both? He's done this 2 or 3 times now since he's been the HC there.

 

[Freak]

Not surprised. The guarantee money he was requesting from LSU was north of $50 million with a total contract worth around $100 million. From a money perspective I don't think it does make sense.

I mean, I don't blame for getting as much as he can, but it's unfathomable to me why FSU would agree to something like that.

I'm pretty sure that's light years more than every other coach in the NCAA.

 

[05_never_again]

I mean, I don't blame for getting as much as he can, but it's unfathomable to me why FSU would agree to something like that.

I'm pretty sure that's light years more than every other coach in the NCAA.

SDS has a good short article up that states that the combined buyout for all of the SEC West coaches, including Saban, is $61M. Jimbo's buyout alone is 74% of the combined buyouts of 7 other coaches in a big time conference.

https://www.saturdaydownsouth.com/sec-football/jimbo-fisher-fsu-buyout-is-insane/

 

[SaintLouisVol]

The buyout is not $44+ million. The total value of the contract is guaranteed.

If they fired him tomorrow, I'd be $44+ million, but as each year goes by, it changes. It goes down by the amount that he has already been paid. He also has some automatic extension clauses in it that would increase the total contract value to more than $44 million. It's like an MLB contract.

The provision I thought was interesting was the cost of voluntary departure. If he quits to work somewhere else, he has to pay the remaining contract value of ALL the assistant coaching staff.

They're not really overpaying, but they have created a VERY long mutual commitment. I guess they got tired of his name popping up every time a big opening came up and that was the cost of keeping his name out of them.

 

[05_never_again]

The buyout is not $44+ million. The total value of the contract is guaranteed.

If they fired him tomorrow, I'd be $44+ million, but as each year goes by, it changes. It goes down by the amount that he has already been paid. He also has some automatic extension clauses in it that would increase the total value to more than $44 million.

The provision I thought was interesting was the cost of voluntary departure. If he quits to work somewhere else, he has to pay the remaining contract value of ALL the assistant coaching staff.

I know - it's still insane though. What if FSU becomes an 8-win team in a few years and they wanted to fire him? They'd still owe him $30M+ I'm assuming.

 

[SaintLouisVol]

I know - it's still insane though. What if FSU becomes an 8-win team in a few years and they wanted to fire him? They'd still owe him $30M+ I'm assuming.

It'll be interesting to see how this precedent dictates future contracts. If a Tennessee HFC got a deal that offered that many years of security, VN would flip out.

 

[05_never_again]

It'll be interesting to see how this precedent dictates future contracts. If a Tennessee HFC got a deal that offered that many years of security, VN would flip out.

I'm not sure. Saban doesn't even have a buyout clause in his contract with Alabama. He can leave for another job without any penalty, which I'm assuming nobody else has.

 

[SaintLouisVol]

I'm not sure. Saban doesn't even have a buyout clause in his contract with Alabama. He can leave for another job without any penalty, which I'm assuming nobody else has.

I think Saban is in a league of his own. After his success, he calls all the shots on his contract.

With Jimbo, the contract suggests that both sides wanted to make it very difficult to part ways. I read that the total value of the assistants' contracts at FSU could be in the $10-15 million range in any given year. It's hard to see another school wanting him bad enough to pay that. It's also hard to imagine FSU thinking it's worth such a risk on their part.

Although it's refreshing in a way. You don't see too many willing to go all in on somebody these days. FSU must think Jimbo is their guy, and they're willing to live or die with him.

 

[Otis07]

does his wife get half of that?

 

[Thunder Good-Oil]

It was $33 million before the contract was re-done.