No plan on how to pay Dooley

#52
#52
UTProf said:
There's no plan as of yet because they haven't figured who is going to pony up the cash donations to the athletic department. UT is operating on such a slim budget right now that Hamilton and Cheek know that if they even hinted at taking it out of the general funds there would be a full scale revolt on their hands by both faculty (forced to do more with less) AND students who've been forced to pay more and more and for less services.

It would resemble the student protests of late sixties or worse when Nixon crashed the Billy Graham Crusade at UT back in the day.
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um Hamilton is gone... you may be next Mr. ButtCheek.
 
#53
#53
The question is, how much future revenue are we going to lose if we don't pony up for a big time coach. It was said today that Dooley will receive $100,000 a month through 2016...not bad way to lose a job!
 
#55
#55
Those idiots saying you might want to make him sue for it...are just that idiots...he was a pretty damn good litigator. He was a junior partner at Nelson Mullins Riley & Scarborough. You guys probably work at the local Kroger or McDonald's so shut the **** up.
 
#56
#56
I don't mean to add to your grief over here, but if you can't even pay off the guy you fired, how you going to outbid Arkansas for Gruden?

By the way, how does a football program like Tennessee's, end up broke?

Take Petrino. You'd get him cheap right now, and you will win for 3 or 4 years.
 
#58
#58
Perhaps those , same boosters that are going to pay for our new ,coaching staff will pay it . I know , I know . Its MAGIC .
 
#61
#61
diehardvolsfan said:
With Gruden's ESPN gig and other sponsorship deals and such he makes almost 10 mil a year..he would be asking at least 11 mil or higher JUST to take the job at UT.
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He might demand more than that, because he only works 1 or 2 days at espn.
 
#62
#62
correct me if I'm wrong But didn't CDD want scholarships to be based off performance.... then if that is his theory then he should stand behind his theory/performance and just walk away....
 
#63
#63
Maybe Cheek has no idea how it will be funded as he is on his way out and Hart is taking care of it. OR maybe this is just another example of fans and media running with the idea that "The Big Boosters" will take care of things and UT is left holding the bag. Noone stepped up and paid Fulmers buyout. Noone paid Pearls or Hamiltons. What about the others? These "Big Boosters" are not always there when people think they will be.
 
#64
#64
Honky said:
"The University of Tennessee does not yet have a plan for how it will finance a multimillion-dollar buyout of former head football coach Derek Dooley, who was fired Sunday, Chancellor Jimmy Cheek said today."

How do you fire someone but have no plan on how to pay him?!!


UT's Cheek: No plan yet for funding coaching buyout » GoVolsXtra
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You do know that negotiations over how to structure settlements take a while, right?

I assume that UT is pushing for the following:
- Long, drawn out payments with a caveat that the payments cease as soon as Dooley is hired in a football capacity elsewhere.

I assume that Dooley is pushing for:
- A shorter duration, with larger payments, and no caveat regarding future employment.

UT will probably try to sweeten the deal by offering a higher interest rate; Dooley will probably return with an offer of lower interest on the payments, but larger payments and a shorter lifespan.

I imagine that these negotiations will go back and forth for more than a week.
 
#65
#65
therealUT said:
You do know that negotiations over how to structure settlements take a while, right?

I assume that UT is pushing for the following:
- Long, drawn out payments with a caveat that the payments cease as soon as Dooley is hired in a football capacity elsewhere.

I assume that Dooley is pushing for:
- A shorter duration, with larger payments, and no caveat regarding future employment.

UT will probably try to sweeten the deal by offering a higher interest rate; Dooley will probably return with an offer of lower interest on the payments, but larger payments and a shorter lifespan.

I imagine that these negotiations will go back and forth for more than a week.
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The buyout payout is already set up in his contract. His buyout is guaranteed even if he coaches elsewhere. There are no negotiations as it was all setup in his 1st contract. The only thing UT is trying to figure out now is how to making the 102,000.00 monthly payments plus hire a new staff.
 
#69
#69
LebanonVolunteer said:
The buyout payout is already set up in his contract. His buyout is guaranteed even if he coaches elsewhere. There are no negotiations as it was all setup in his 1st contract. The only thing UT is trying to figure out now is how to making the 102,000.00 monthly payments plus hire a new staff.
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They are all set up in the hiring contract; and, negotiations over the structure of the settlement still occur upon termination. It happened with Phil; I see no reason as to why it would not be happening with Dooley.

Like I said, I assume that UT will try to sweeten the deal for Dooley by increasing the interest, thus increasing his overall payout, lowering the monthly payments, and providing a rider that says the payments cease once Dooley is hired elsewhere.

Certainly, Dooley can stand by his contract, refuse, and assert that the legally-binding contract obliges UT to pay in the terms that were already agreed to. But, maybe Dooley is also worried that he will not be hired again in a certain football capacity (which the negotiations could and probably would specify more clearly), and, therefore, might want more money over the long haul, but less money in each monthly payment.

Hart and his people will most likely apply a lot of pressure on Dooley and remind Dooley that over six years as a Head Coach, he has only one winning season, a 32-41 overall record, and, in three seasons at UT, has only won four conference games. Hart will attempt to convince Dooley that no Division I team will hire Dooley in the position of either Head Coach or Assistant Head Coach, and, therefore, the long-term higher sum is actually easy money for Dooley.
 
#70
#70
therealUT said:
They are all set up in the hiring contract; and, negotiations over the structure of the settlement still occur upon termination. It happened with Phil; I see no reason as to why it would not be happening with Dooley.

Like I said, I assume that UT will try to sweeten the deal for Dooley by increasing the interest, thus increasing his overall payout, lowering the monthly payments, and providing a rider that says the payments cease once Dooley is hired elsewhere.

Certainly, Dooley can stand by his contract, refuse, and assert that the legally-binding contract obliges UT to pay in the terms that were already agreed to. But, maybe Dooley is also worried that he will not be hired again in a certain football capacity (which the negotiations could and probably would specify more clearly), and, therefore, might want more money over the long haul, but less money in each monthly payment.

Hart and his people will most likely apply a lot of pressure on Dooley and remind Dooley that over six years as a Head Coach, he has only one winning season, a 32-41 overall record, and, in three seasons at UT, has only won four conference games. Hart will attempt to convince Dooley that no Division I team will hire Dooley in the position of either Head Coach or Assistant Head Coach, and, therefore, the long-term higher sum is actually easy money for Dooley.
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Agreed. The buyout clause was stated in his hiring contract. If fired before February 2013, buyout would be paid in monthly installments through 2016. Smart on his part because who is going to hold onto a coach up until NSD and then fire them. Not good for recruiting at all and he knew it.

The question is, where do the monthly installments come from with little to no monthly revenue.
 
#72
#72
write a check for the whole amount. tell him to let us know how that works out for him. change our phone numbers.
 
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#73
#73
Gentlemen, don't worry about the money. A smart business man knows to make money you must first spend money. We may be low right now and that is why we have to hire a big name coach and maybe spend a little more that it seems like we have but if he can keep this offense on the field and strengthen our d next year he will have a winning season by several more wins than this year. Winning will bring in return money plus a big name coach will bring peoples interest back into the school for season tickets.
 
#74
#74
What about Arky's offer to Gruden this morning... $6.5 mill. Thats alot more than Saban is making right? I think it was a bluff but who knows...
 
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