It’s what Jimbo Fisher just got today for getting fired from his job at Texas A&M.
25% is owed within 60 days - the rest needs to be paid in full by 2031 in annual installments.
This is a friendly reminder that even though you may be a fan or alumni of a power 5 Conference school, you’re still really not squat save about 10 or so schools, most of which have 100,000 plus seat football stadiums.
I also regret not negotiating a buyout contract when I took my current job!
This happens at least once a month if not more often across all sports and every contract has a buyout clause in it.
And then the coach gets another job before the start of the next season.
For $77M I'm sure that I could perform poorly enough to get fired, and I'd go quietly!
Anytime I hear the name Jimbo, I think of that character from the Simpsons
ATM got exactly what they deserve. Hope they blow $100 million on Urban Meyer next.
Jimbo should never coach again. He burned down the house at FSU when he knew he was on his way out. Made no effort to recruit and left the program in shambles. He should never be hired again, which means he will likely end up at South Carolina... The elephants graveyard of coaching careers.
^ I agree, can’t blame Jimbo, probably had his agent throw out stupid numbers in the hiring process and they never said no.
I know a NCAA football ref pretty well and he has always said, “these CFB coaches, the only people that tell them NO are their wives and us, the refs. That’s why they’re such spoiled brats.”
There’s rumblings of Jimbo going to WVU because he grew up 20 miles away from the university but I find that highly unlikely. You never know though who would have ever thought Les Miles would have landed in Kansas?
It’s always entertaining just like Michigan threatening to leave the Big 10. Yeah right…
I really think that Texas A&M will end up with Coach Prime. Both the college and the person are both too loud and too rich, they will find each other irresistible.
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Nice payout. And here’s some added tuscl math: post fed tax approx. 14.5 million lump sum. An A+ SB cost of 5k per weekend, enjoy her company every other weekend = 120k annual cost. Take 3m and put it into the 20 year bond market at (for discussion sake) 5% annual. Post fed tax proceed of about 120k. Now sit back, smile and relax knowing the US government has got your SB cost completely covered. Winning!