Post by spreadattack on Feb 20, 2009 9:40:13 GMT -6
Leach has agreed, at the last moment, to a three year extension, so he is there for five years now. Awesome!
What are the details of the final agreement with respect to those 4 clauses TT proposed?
Here they are: www.dallasnews.com/sharedcontent/dws/spt/stories/022009dnspotechlede.2fa7bb13.html
• Leach’s new contract doesn’t have a buyout, making him the fifth Big 12 coach without one. Tech had wanted a $1.5 million buyout. His previous contract had a $500,000 buyout.
• Leach’s new contract has a termination guarantee of $400,000 for each season left or about 16.5 percent of the entire deal. Tech had proposed $300,000 for each season left. Leach’s previous contract guaranteed him 40 percent left of his remaining deal if he were to be terminated without cause.
• Both sides agreed that Leach has to give Tech “notification” if he were to interview for another job, but he won’t be required to get Tech athletic director Gerald Myers’ “permission” to do so, as Tech had proposed. Leach also can’t be penalized for interviewing elsewhere.
• Leach gets to maintain his personal property rights, as he has in his previous contract, though Tech and Leach agreed to share marketing responsibilities for him between Tech-hired Learfield Communications and Leach’s IMG agents Gary O’Hagan and Matt Baldwin.
• Tech also guaranteed Leach $400,000 more annually to go toward his staff’s salary pool.
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These were resolved in a one-on-one meeting with Leach and the school's chancellor (the athletic director was not in the meeting). That last addition is good; should help him keep assistants around longer.
Again, for me, as an outsider, it was a fascinating drama of negotiations. I understand poorbob getting pretty worked up, but emotion doesn't do anyone much good in these situations, including the athletic director here. They were finally able to come to terms on some reasonable provisions.
Also, Leach basically called the AD's bluff, with the fake-Tuesday deadline and those four rough provisions. If I'm the AD I can't feel happy about this, and the fact that his boss came in to resolve things.