If Tennessee decides to fire head football coach Butch Jones during this season, it’ll cost the Volunteers more than $6 million in buyout money. The number could be as high as about $9 million, but it’s difficult to know for sure how it’d break down. (After getting thrashed 41-0 by Georgia on Saturday, Jones’ buyout is a pertinent issue.)
When Tennessee hired Jones in 2012, his contract outlined these buyout terms in the event UT ever fired him “without cause,” i.e. for poor on-field performance: $2 million to Jones for every full year left on his deal at the time of his firing, plus the prorated portion of that for the remainder of the current year.
Under those terms, Jones’ buyout if Tennessee fired him on Oct. 1 would be $6.82 million.
His contract runs for three full years after this one (a total of $6 million), and the prorated portion for the last 150 days of Jones’ current contract year would be about $822,000. In Jones’ deal, the new year starts on March 1. If he’s fired and gets another coaching job, Tennessee’s obligations decrease by whatever he makes.
Jones signed an extension in 2014 that raised his annual compensation $500,000 per year, to around $4 million. It’s been reported that Jones’ extension
Article source: https://www.sbnation.com/college-football/2017/10/1/16389850/butch-jones-buyout-tennessee-coach-hot-seat-fire
Useful Links: Swiss Watches | Watch Coupons | Coupons | Alu Foam | Security Rooms | Oldtimer | Bitcoin News