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Falcon legend Petrino on hot seat


Doctor Kildare
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Ordinarily the travails of a college coach would not belong here, but Petrino is such a fan favorite. Louisville is 2-5 and patience is drying up. The problem is the ridiculous buyout. From the article

https://m.herosports.com/college-football/hot-seat-bobby-petrino-buyout-jurich-ahah

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Bobby Petrino has an unusual contract that includes an increasing buyout during the first four years of the deal.

 

Louisville athletic director Tom Jurich sat beside Bobby Petrino during a press conference on April, 14, 2016, during which the pair announced Petrino's new seven-year contract. Jurich said he'd do "everything in [his] power" to ensure Petrino stays at Louisville. Everything in Jurich's power included giving Petrino one of the friendliest contracts in coaching history.
 
While the new seven-year deal included a pay raise, the 29-percent bump wasn't outrageous for a guy who became the second head coach in program history to win at least 15 games in his first two seasons (the first was also Petrino during his first stint at head coach). The outrageous part was a buyout provision that increased throughout the first four years of the contract.

If Petrino -- who's leading the program's worst start (2-4) since 2009 (2-5) -- is fired without cause, Louisville owes him the remaining balance of that year's salary plus the salary of the next three years. (If fired prior to the end of the year, he is owed a $500,000 bonus for an APR score of at least 900 for that year.)

First, here's the base salary breakdown:

July 1, 2016 - June, 30, 2017: $3.875 million
July 1, 2017 - June 30, 2018: $3.925 million
July 1, 2018 - June 30, 2019: $3.975 million
July 1, 2019 - June 30, 2020: $4.025 million
July 1, 2020 - June 30, 2021: $4.075 million
July 1, 2021 - June 30, 2022: $4.125 million
July 1, 2022 - June 30, 2023: $4.175 million

For example, if Petrino were fired on June 30, 2019 (for simplicity's sake to avoid remaining balance calculations and APR bonuses because we don't know what day he'd be fired), he'd be owed no remaining money on his 2018-19 salary but would be owed his base salary for the next three years:

July 1, 2019 - June 30, 2020: $4.025 million
July 1, 2020 - June 30, 2021: $4.075 million
July 1, 2021 - June 30, 2022: $4.125 million

Total: $12.225 million

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31 minutes ago, Doctor Kildare said:

Hopefully Louisville can find cause and can fire him without paying the buyout. If that is the case, it would be nice if he shows up to practice and finds a mimeographed notice in his locker.

 

I hope not. Louisville deserves every single bit of financial hardship possible for hiring him in the first place. They knew every bit of his sordid and sorry history, and I was shocked they even gave him a chance. No respect for that lot any longer.

I hate the fact that he might get the money for being sorry, but Louisville should suffer a big blow to the finances of their program for hiring him in the first place..... or suffer with his sorry rear end until he chooses to walk out on the team.

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