Dumb question: Mac's buyout

[Nedrick]

Sorry if this has already been discussed, but if Mac were hired by someone else for the '07 season, is ISU still obligated to pay him the remainder of his buyout?

[thunderdave]

Good question - not sure if this has been discussed yet.

[Cyclone_Power]

I thought I remember someone saying that if he signs with another program that we no longer have to reimburse him for the buyout. iirc someone was discussing this about Morgan earlier. Don't quote me on that though.

[timc243]

There are no dumb questions Nedrick...only dumb people. I have to work with the general public and it is very true.

[rworkman83]

There are no dumb questions Nedrick...only dumb people. I have to work with the general public and it is very true.

haha great line...

[Stormin]

Not sure on this, but I will go out on a limb. For one thing, Mac resigned, which means that his buyout was negotiated by Pollard. Which means the figures may or may not have been guaranteed.

I believe that standard procedure is that there is a guarantee, but if you would take another job that the earnings from the new job are subtracted from the guarantee from the old job. Chances are it will take this staff a while to find new jobs. And if they do it will be for far less than ISU paid, so we will be on the hook. But it could definitely be less than the maximum. Especially if Bowlsby and Stanford bail us out on Mac.

[keepngoal]

no one, in the public, knows the buy out dollar amounts ... but typically, if Mac gets another job coaching, at any level or position, the payments stop.

Take note Morgan!

-keep

[ISUAlum2003]

Someone asked that question at the news conference & the response was "Mac will be paid his base salary($225k) through the remainder of the contract(June 2010) & that the assistants would be paid until their contracts expire".

[Nedrick]

no one, in the public, knows the buy out dollar amounts ... but typically, if Mac gets another job coaching, at any level or position, the payments stop.

Take note Morgan!

-keep

Very good...
So you suppose WM is waiting for someone to come along and offer him a HC job still? Something tells me he's too proud to accept an assist. job.

[ISUAlum2003]

Yes, especially since he is not hurting for ca$h right now.

[cyclonekj]

Yes, especially since he is not hurting for ca$h right now.

I heard he blew it all on guitars and a new pimp cane.

[ISUAlum2003]

Don't forget about the suit vests.

[cychief24]

Yes, especially since he is not hurting for ca$h right now.

Actually, Morgan built a house in Ames for $2 million. His buyout was $1.5 million. I think that may be a problem for his mortgage company.