[Husker] Contract Extensions

[Steve]

Like Bob, I was shocked that the release of SP came on the heels of the
contract extension.

 

I could not find the SP contract, but we've read that it runs approx USD
2.2M.  That is based on whatever his Early Termination Clause was ---
effective with his five (5) year extension that was negotiated in July,
2007.  The same extension that included a pay increase of 16% from base of
USD 430K to USD 500K --- this might have been a sound decision based on VB
National Championship, 2006 Big XII North title, etc...  Only losing allowed
the SP-detractors to feel more comfortable in voicing concerns to HP, in my
humble opinion.  SP, The End.

 

~~~

I did find a copy of BC's original contract and noted that his early buyout
would be equal to a lump sum as calculated at (# of months remaining * USD
41,666.67).  With the original contract, BC's buyout (effective 24NOV2007)
would have been approximately USD 1.1M

 

Original
<http://images.usatoday.com/sports/graphics/coaches_contracts/pdfs/nebraska_
fb.pdf>  contract dt 09JAN2004 ending 31JAN2010 can be found at:

 

http://images.usatoday.com/sports/graphics/coaches_contracts/pdfs/nebraska_f
b.pdf

 

With the recent 5 year contract (essentially a two year extension), the
buyout fee is boosted by another USD 1.0M --- this is a minimum amount
assuming that BC negotiated for no less on the Early Termination Clause.

 

OK... so the minimum buyout for SP and BC will run:

 

SP - USD 2.2 M

BC - USD 2.1 M . . . add in other coaches that may be bought out as well.

 

~~~

No one in Lincoln really seems to care ... but HP had the oversight and
responsibility for the contract extensions.  He's got seniority (tenure) so
he isn't worried about his position.  What a shame that ineptitude in
leadership was rewarded with contract extensions, though.   Overall, I've
read that plenty of money is laying around to buyout, recruit and rebuild.
I sure hope that TO is able restore the order.

 

 

See you Lincoln this weekend.  I wouldn't miss this one for the world.

 

TexasA&M 27

Nebraska 28  . . . first balloon release in first quarter this week!

 

Oh wait, that was last year.  I was there for that one, too.  I think we'll
do well.  I read that there are a few key injuries on the Aggies side of the
ball.  Didn't you get the memo?  ;)

 

Cheers,

Steve Gomez

 

(deep behind enemy lines in Big TelEveN country)