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Post by cantfirerobjeter on Jan 9, 2013 8:26:13 GMT -6
I've reviewed Jeter's contract. No way we can fire him for at least 2 more years, and even then, it would depend on a big donor coming forward to buy him out. Essentials of the contract are:
1. Signed in October, 2012
2. Runs through June 30, 2017 (yes, 4 seasons after this debacle)
3. Salary is $452,129.70 per year, with a minimum 3% increase each year
So that's the bad news. Based on that, without cause or mutual agreement, after this season it would take over $1.8 million to buy him out.
But, unlike the new contract (which basically gave him a one-year extension as long as he didn't violate NCAA rules or commit moral terpitude), in order for RJ to get an extension, he needs to accomplish things. He needs to have a strong APR. He needs to have players that don't break the law (already violated that clause this year). He needs to win (certainly will violate this provision). Not just 20 games, though that is A criteria for an extension, but top-three in conference, NCAA and NIT appearances. There is no reward for "other" post-season tournaments.
Based on the contract, he will likely not receive an extension after this season. Four years on the deal will remain. His salary for 2013-14 will be a minimum of $465,693.59. I think we can assume that we will not win 20 games, finish in the top 3, or reach the NCAA or NIT next season. In 2014-15, his salary would be a minimum of about $480,000. After that season, with a few big donors, a negotiated buyout of $750,000-$800,000 might be possible. Who knows.
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Post by The Green Gull on Jan 9, 2013 8:49:10 GMT -6
I've reviewed Jeter's contract. No way we can fire him for at least 2 more years, and even then, it would depend on a big donor coming forward to buy him out. Essentials of the contract are: 1. Signed in October, 2012 2. Runs through June 30, 2017 (yes, 4 seasons after this debacle) 3. Salary is $452,129.70 per year, with a minimum 3% increase each year So that's the bad news. Based on that, without cause or mutual agreement, after this season it would take over $1.8 million to buy him out. But, unlike the new contract (which basically gave him a one-year extension as long as he didn't violate NCAA rules or commit moral terpitude), in order for RJ to get an extension, he needs to accomplish things. He needs to have a strong APR. He needs to have players that don't break the law (already violated that clause this year). He needs to win (certainly will violate this provision). Not just 20 games, though that is A criteria for an extension, but top-three in conference, NCAA and NIT appearances. There is no reward for "other" post-season tournaments. Based on the contract, he will likely not receive an extension after this season. Four years on the deal will remain. His salary for 2013-14 will be a minimum of $465,693.59. I think we can assume that we will not win 20 games, finish in the top 3, or reach the NCAA or NIT next season. In 2014-15, his salary would be a minimum of about $480,000. After that season, with a few big donors, a negotiated buyout of $750,000-$800,000 might be possible. Who knows. I didn't know today was April 1st. |
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Post by yuhayden on Jan 9, 2013 8:50:36 GMT -6
1. Signed in October, 2012 Really??? |
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Post by cantfirerobjeter on Jan 9, 2013 9:12:16 GMT -6
I've reviewed Jeter's contract. No way we can fire him for at least 2 more years, and even then, it would depend on a big donor coming forward to buy him out. Essentials of the contract are: 1. Signed in October, 2012 2. Runs through June 30, 2017 (yes, 4 seasons after this debacle) 3. Salary is $452,129.70 per year, with a minimum 3% increase each year So that's the bad news. Based on that, without cause or mutual agreement, after this season it would take over $1.8 million to buy him out. But, unlike the new contract (which basically gave him a one-year extension as long as he didn't violate NCAA rules or commit moral terpitude), in order for RJ to get an extension, he needs to accomplish things. He needs to have a strong APR. He needs to have players that don't break the law (already violated that clause this year). He needs to win (certainly will violate this provision). Not just 20 games, though that is A criteria for an extension, but top-three in conference, NCAA and NIT appearances. There is no reward for "other" post-season tournaments. Based on the contract, he will likely not receive an extension after this season. Four years on the deal will remain. His salary for 2013-14 will be a minimum of $465,693.59. I think we can assume that we will not win 20 games, finish in the top 3, or reach the NCAA or NIT next season. In 2014-15, his salary would be a minimum of about $480,000. After that season, with a few big donors, a negotiated buyout of $750,000-$800,000 might be possible. Who knows. I didn't know today was April 1st. What's that supposed to mean? I made a request under the open records law. I have a copy of his contract. It's a public record. If you don't believe any of the things I posted, make a request yourself and review the contract. If, by April Fool's you mean a large donor, then I agree and am likely overly optimistic. |
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Post by cantfirerobjeter on Jan 9, 2013 9:13:18 GMT -6
1. Signed in October, 2012 Really??? Yes. Really. But without the amended contract, it probably would have continued to renew because there were no performance standards in place to form the basis for nonrenewal. |
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Post by The Green Gull on Jan 9, 2013 9:29:59 GMT -6
Of course that's hard to believe. The contract extension you outlined is ridiculous.
Without a copy of the contract or any evidence of this contract it would be hard to take this seriously at this point.
If true, this contract extension would be a new low for the athletic department. Mediocrity should never be rewarded.
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Post by JG Panthers on Jan 9, 2013 9:51:43 GMT -6
Is there a way you can put this online so we can view it, or attach it on here? It's not that I don't believe you... I just need to see for my own eyes if I'm really going to give up my support for my Alma Mater... It would sadden me deeply, but I can't continue to support this program. Not, at least, until we have a new coach...
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Post by ghostofdylan on Jan 9, 2013 10:14:13 GMT -6
Is this true?
If so, I can see an exodus of the few hundred remaining fans from the program.
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Post by PANTHERfan on Jan 9, 2013 11:32:41 GMT -6
This is something that the JS should really be covering, not that this team or program warrants much coverage.
If it is true, I'm done.
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Post by ghostofdylan on Jan 9, 2013 13:17:51 GMT -6
"I can't take another eight weeks of this, man, let alone another four years."
-- signed Pvt. Elmo Blum
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Post by gman2 on Jan 9, 2013 16:03:43 GMT -6
Tihe oriiginal contract did not automatically extend, but the university could approve one year extensions to the otiginal contract. The original contract was extended through 2016, I posted a link to the last amended contract in a post a couple of years ago. It is possible the university extended the contract as it has done the last three years of bud's tenure. So it is possible the contract was extended an additional year through June 30, 2017.
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Post by gman2 on Jan 9, 2013 17:34:51 GMT -6
Tihe oriiginal contract did not automatically extend, but the university could approve one year extensions to the otiginal contract. The original contract was extended through 2016, I posted a link to the last amended contract in a post a couple of years ago. It is possible the university extended the contract as it has done the last three years of bud's tenure. So it is possible the contract was extended an additional year through June 30, 2017. I should have said his second contract which was negotiated after his first season, not the original contract. |
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Post by Pantherholic on Jan 9, 2013 18:28:10 GMT -6
This contract will be the death of the program.
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Post by mcdadenets50 on Jan 9, 2013 18:34:04 GMT -6
From the contract:
"Promote University's men's basketball program..."
FAIL, FAIL, FAIL
This contract is an abomination.
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Post by PANTHERfan on Jan 9, 2013 20:07:06 GMT -6
From the contract: "Promote University's men's basketball program..." FAIL, FAIL, FAIL This contract is an abomination. Well, hold on. Does this language give the University an out? I mean, clearly this coach has not held this end of the bargain up. |
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