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Posted

Kelly's contract has an offsetting clause where his BO would be offset by his earnings from other jobs. LSU doesn't have to pay the full amount. That's why they can negotiate it down to $20-30M based on some assumptions about how much he could make from other jobs during the reminder of the contract. Herman had the same deal. UT didn't pay him the full BO.

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Posted
1 hour ago, UTEE97 said:

Kelly's contract has an offsetting clause where his BO would be offset by his earnings from other jobs. LSU doesn't have to pay the full amount. That's why they can negotiate it down to $20-30M based on some assumptions about how much he could make from other jobs during the reminder of the contract. Herman had the same deal. UT didn't pay him the full BO.

Okay, if Kelly agrees to a smaller buyout now - say $20M - does this renegotiated amount get reduced again if another program is dumb enough to pay a premium for his services? I also assume LSU didn't fire him "for cause" due to some obscure 'morality' clause. I'm just trying to understand how this works.

Good to know Jimbo's fully guaranteed, no offset language deal with aggy is still the dumbest contract ever.

Posted (edited)
11 minutes ago, DFW Horn said:

Okay, if Kelly agrees to a smaller buyout now - say $20M - does this renegotiated amount get reduced again if another program is dumb enough to pay a premium for his services? I also assume LSU didn't fire him "for cause" due to some obscure 'morality' clause. I'm just trying to understand how this works.

Good to know Jimbo's fully guaranteed, no offset language deal with aggy is still the dumbest contract ever.

I think they pay out the BO money monthly over the reminder of the original contract, so It's possible the payment gets revised down if someone pays him more down the road unless the settlement amount is fixed. Jimbo's contract had an immediate payment clause, I believe, which is the dumbest thing you can do.

Edited by UTEE97
Posted
42 minutes ago, UTEE97 said:

I think they pay out the BO money monthly over the reminder of the original contract, so It's possible the payment gets revised down if someone pays him more down the road unless the settlement amount is fixed. Jimbo's contract had an immediate payment clause, I believe, which is the dumbest thing you can do.

Yeah, if Kelly decides he wants to keep killing kids in scissor lifts or even torture us every weekend as a TV know-it-all, then due to his contract's offset language its probably cleaner to negotiate a one-time payment, payable now with no future clawbacks. But if he decides to retire because he doesn't want to start someplace new at the age of 64, he should tell LSU to fuck off and keep sending those checks. Or offer to let them pay out the NPV of his contract and give them a small discount to motivate them. But that figure would be a lot closer to $40M than the $20M I keep reading.

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