Geauxtigs Posted November 15, 2018 Share Posted November 15, 2018 LSU and Les Miles agree to a lump sum payment of $1.5 million out of the $6.5 million he's still owed. Both parties agree it's "time to move on." LSU saves $5 million and does CLM move on to a new HC gig soon? That Kansas job maybe? https://www.theadvocate.com/baton_rouge/sports/lsu/article_e2bc3be8-e918-11e8-8aa8-0343843b65d5.html https://www.nola.com/lsu/2018/11/lsu-les-miles-agree-to-settlement-on-remaining-buyout-money-owed.html Link to comment Share on other sites More sharing options...
Geauxtigs Posted November 15, 2018 Author Share Posted November 15, 2018 The story also ran in the Lawrence, Kansas newspaper. http://www2.ljworld.com/sports/ku-football/2018/nov/15/lsu-announces-settlement-former-football-coach-les/ Link to comment Share on other sites More sharing options...
Fishhead Posted November 15, 2018 Share Posted November 15, 2018 Class act Link to comment Share on other sites More sharing options...
houtiger Posted November 16, 2018 Share Posted November 16, 2018 There is class, then there is stupidity. I see no reason for Les to do this. I don't see anything in the way of Les taking the UK job, not from his old LSU contract, from which he was fired. LSU owed him $133K per month, so if he took the UK job at 80K per month, UK pays him 80K per month, and LSU pays him 53K per month. Les makes 133k per month, just not all from LSU. Link to comment Share on other sites More sharing options...
Nutriaitch Posted November 16, 2018 Share Posted November 16, 2018 21 minutes ago, houtiger said: There is class, then there is stupidity. I see no reason for Les to do this. I don't see anything in the way of Les taking the UK job, not from his old LSU contract, from which he was fired. LSU owed him $133K per month, so if he took the UK job at 80K per month, UK pays him 80K per month, and LSU pays him 53K per month. Les makes 133k per month, just not all from LSU. if anyone in this situation is stupid, my money is on it being Alleva. dont be shocked to find out (soon) Kansas is going to pay him 2-3mil per year for 4-5 years. Guy they just fired was making 1.7 mil per year. which would actually be more than his LSU buyout. Meaning LSU would actually owe him zero. but Alleva sucks at his job. So if i had to place any bets on who did something stupid.... Link to comment Share on other sites More sharing options...
Fishhead Posted November 16, 2018 Share Posted November 16, 2018 1 hour ago, houtiger said: There is class, then there is stupidity. I see no reason for Les to do this. I don't see anything in the way of Les taking the UK job, not from his old LSU contract, from which he was fired. LSU owed him $133K per month, so if he took the UK job at 80K per month, UK pays him 80K per month, and LSU pays him 53K per month. Les makes 133k per month, just not all from LSU. Regarding class, i was talking about a comment he made regarding LSU. "I will be a Tiger forever" Class Link to comment Share on other sites More sharing options...
Hatchertiger Posted November 16, 2018 Share Posted November 16, 2018 3 hours ago, Fishhead said: Class act Les is a class act in my book. Period. Link to comment Share on other sites More sharing options...
houtiger Posted November 16, 2018 Share Posted November 16, 2018 5 hours ago, Nutriaitch said: if anyone in this situation is stupid, my money is on it being Alleva. dont be shocked to find out (soon) Kansas is going to pay him 2-3mil per year for 4-5 years. Guy they just fired was making 1.7 mil per year. which would actually be more than his LSU buyout. Meaning LSU would actually owe him zero. but Alleva sucks at his job. So if i had to place any bets on who did something stupid.... That would make sense. We owed him through 2023, so the 1.5 mil would be the tail end of that payment stream, the part we owed beyond the end of his new UK contract. Link to comment Share on other sites More sharing options...
Nutriaitch Posted November 16, 2018 Share Posted November 16, 2018 7 hours ago, houtiger said: That would make sense. We owed him through 2023, so the 1.5 mil would be the tail end of that payment stream, the part we owed beyond the end of his new UK contract. ignore the years and time, they’re not relevant in buyouts. The time frame is nothing more than an agreed upon schedule, but total amount doesn’t change (without re-negotiating). LSU contractually owed $6.5mil. regardless of length of payment. Any payment received from a new gig gets removed from the $6.5 LSU owes, regardless of length of new contract. so if Les signs a deal at KU for 5 years at $1.5 per (not an unreasonable amount), that’s $7.5 mil. Or even 4 year at $2mil per ($8mil total) Meaning LSU would be completely off the hook and owe Miles nothing at all. enter Alleva and we now owe him $1.5mil that we otherwise wouldn’t. Link to comment Share on other sites More sharing options...
Nutriaitch Posted November 16, 2018 Share Posted November 16, 2018 *note: above post is obviously my hypothetical on what could be happening. Link to comment Share on other sites More sharing options...
Just Me Posted November 16, 2018 Share Posted November 16, 2018 I don't know CLM's reasoning for agreeing to such a low amount. Maybe it is to make more money elsewhere, maybe it really was time to just end it, and money was not the primary consideration. But he is a class act. All around. He is one of the better things to have happened at LSU, and no one will never change my mind on that. Link to comment Share on other sites More sharing options...
Nutriaitch Posted November 16, 2018 Share Posted November 16, 2018 Les is definitely a class act. But i don’t seem him just passing on $5mil. and going by Alleva’s track record, odds are LSU is not getting the better end of the deal. Link to comment Share on other sites More sharing options...
Nutriaitch Posted November 18, 2018 Share Posted November 18, 2018 On 11/15/2018 at 6:35 PM, houtiger said: There is class, then there is stupidity. I see no reason for Les to do this. can you see it now? Dipshit Joe just paid Les $1.5 million MORE than they owed him. please, please, please fire this incompetent sack of sundried baboon sh!t Link to comment Share on other sites More sharing options...
houtiger Posted November 18, 2018 Share Posted November 18, 2018 58 minutes ago, Nutriaitch said: can you see it now? Dipshit Joe just paid Les $1.5 million MORE than they owed him. please, please, please fire this incompetent sack of sundried baboon sh!t I did not expect to see Les get hired at age 65. I thought he was done. Link to comment Share on other sites More sharing options...
Nutriaitch Posted November 18, 2018 Share Posted November 18, 2018 56 minutes ago, houtiger said: I did not expect to see Les get hired at age 65. I thought he was done. really? this wasn’t painfully obvious? i mean every major sports media outlet was reporting this was going to happen. he has a long history with their AD. our AD is one of the dumbest bastards in college sports that has gotten the short end of every single public negotiation he’s ever been involved in. then out of the blue Les just says “fornicate it! i don’t need that extra $5 mil” i called it immediately upon it being announced that him and LSU settled. Link to comment Share on other sites More sharing options...
Herb Posted November 19, 2018 Share Posted November 19, 2018 For Nootch: http://footballscoop.com/news/lsu-just-light-1-5-million-fire/ Link to comment Share on other sites More sharing options...
Nutriaitch Posted November 20, 2018 Share Posted November 20, 2018 2 hours ago, Herb said: For Nootch: http://footballscoop.com/news/lsu-just-light-1-5-million-fire/ from that link: Unless I’m just missing something, Joe Alleva just cost LSU $1.5 million for no good reason. Link to comment Share on other sites More sharing options...
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