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January 1, 2011

Am I Reading This Right?

After seeing lots of posts on the message boards demanding Richt's head for the "Mess in Memphis," I was thinking about buyout clauses.  That prompted me to look at Mark Richt's contract and his buyout.  (This post is simply an observation on that deal, not necessarily an endorsement of any action.  We don't call for heads here.)

Richt's current contract runs through the end of the 2013 season.  If Richt is fired (technically, the Athletic Association would terminate his contract with six months notice) then Richt gets three amounts: (1) his full compensation package for the year in which he is fired, (2) a portion of his compensation package for future years remaining on his contract, and (3) a longevity bonus.  Richt's full compensation package includes his base salary and payments for media appearances ($800K), the equipment deal with Nike, and a football camp payment ($100K).  In addition, Richt earns a longevity bonus of $300,000 for each season he coaches after the 2005 season, but that cumulative sum is paid when the contract ends. 

So, if Richt is fired, he'd get his full package for the year in which he is fired.  Here's the interesting part.  Effective January 1, 2011, for years remaining on his contract after the year of termination, Richt's buyout gives him only his base salary and his equipment deal money, but not the payments for media appearances and camps.  That reduction represents a $900,000 savings on each year remaining on the contract after the year of termination.  That reduction for future year compensation is effective only for years after 2011.  Years before that would have entitled Richt to his full package.  The longevity bonus for prior seasons would have to be paid too.  That number currently stands at $1.5M.  It increases by $300,000 for each season Richt coaches.

This means that Richt's contract makes it $1.8M easier to fire him in 2011 or earlier. 

Here's one other thing about Richt's contract.  Coaches generally require at least four years remaining on their contracts for recruiting.  You want a recruit to see that you have at least four years remaining on your contract to assure him that you'll be around for his time at your school.  So, as crazy as it might sound to you, you shouldn't be surprised if Richt gets a one-year contract extension between now and February 2.

Also, Richt isn't the only contract that would have to be bought out.  Todd Grantham's got a buyout clause, too.  Reportedly, he has a three year deal that would require a full buyout if he is fired without cause.  That means Grantham would get $750,000 per season remaining on his contract.  He's entering year two of that contract. 



Anonymous said...

I don't care what coaches generally require...if Richt gets any kind of contract extension this offseason, I'm going to flip out.

Anonymous said...

0k so his total buyout is what?

Anonymous said...

wow 3 Georgia sports blog post in 24 hours. That got to be a record. It is about time y'all started posting stuff

Scott said...

I don't understand why people want Richt fired? I know I am not in Georgia so I don't "hear" the whispers, but I don't think it's all on Richt.

First, it's Todd Grantham's first year with the team trying to install a pro-style defense using WilMart's people. I am willing to give Grantham a year recruiting to get more of his type of players into the system to see what he can do. He had his transition year, now it's time to show progress.

What Richt can be faulted for is telling Bobo to open up the offense. Bobo's play calling is absolutely horrendous. I said last year that after Martinez's firing that Bobo should be next if he does not improve, well he didn't improve. Now it's time for Bobo to go!

If I recall correctly, Bobo was name OC before the Kentucky game in 2007. Since being named the fulltime OC, Georgia has been 27-15 with the two worst seasons since the 1996 Jim Donnan coached team. Donnan lost 19 games in five years and at this rate, Richt/Bobo will do worse!

How many times have we been frustrated by Bobo's play calling? How many times have we seen him "play it safe" by going by the script and not trying to out maneuver the other coaches? Why do we have running backs by committee? Do we really need to have so many running backs? How about one who can do the job?

Where was AJ Green in the Liberty Bowl? It didn't even look like his number was called enough? Why is it that Georgia had so many weapons that have gone unused? What is he saving them for? The season is over and we were embarrassed on national television.

No... this is not Mark Richt's fault except that he hired Bobo and lets Bobo lower the quality of players to their least common denominator. It's time for Bobo to go.

Yes, I know that Mike Bobo is a family man and a long time Dawg. But he was given his chance and the program has had its decline every year since he was made OC. Nice guys don't win football games, qualified coaches help damned good players win football games. Bobo has shown he is not qualified. It's time to go!


If not, then go ahead and fire Richt. If he can't see there are problems and does not have the cojones to fix it, then he needs to go, too!

Reverend Whitewall said...

So if I'm reading this right, we will ultimately pay him the same amount of money whether we fired him today, or Dec 31st of this year?

I will be curious to see if he does get that one year extension, how that plays into the buyout. I would understand the logic of tacking on an extra year for recruiting, but not if that requires a significant addition to the buyout amount.

Otto said...

Going into the season CMR was going to involved in the offense attending meetings but improvement was not shown on the field.

Making a coach fire a coordinator leads to a divided team just as what happened with Tubbs at Auburn.

CMR makes the changes on his own or goes down with the ship.

DawgStudent22 said...

Scott --

First off about CMR. This is his fault. You blame the head man for the people below him. He took WAY to long to fire Martinez, he needs to get rid of Bobo. These people still being in charge of O or D is Richt's fault. He is the reason they have the opportunity to be horrendous.

On to the point about running backs. YES WE DO NEED AS MANY AS POSSIBLE. King and Washaun just are not that good. We don't have a back we can give it to consistently. Giving it to Carlton Thomas at all shows the lack of depth at running back.

Your point about the bowl. Did you watch it? We got it to AJ Green every way possible. He even returned punts. I was there and it was obvious we were trying to get it to Green.

kris said...

I would like to know the writers opinion to the below question....Is Mark Richt's direction and focus no longer college football? I know he tells the fans it is, but his actions speak louder than words.

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