Can someone tell me if AK's contract has a buyout or when they changed it last time did they take that out?
I mean I think it is time for AK to go, but I don't want him getting paid for the next two years like Nutt. I thought I remember him having a guaranteed contract for 3 years which PB did not extend last year?
AK's Contract
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wildthang80
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Really hate to break this to you, because i agree 100%. But, he aint going anywhere unless he leaves. We just WASTED millions in a buy out clause for our football coaches. Kennedy could have a losing season and still have his job. Basketball is not the major concern in 2012.
wildthang80 wrote:Really hate to break this to you, because i agree 100%. But, he aint going anywhere unless he leaves. We just WASTED millions in a buy out clause for our football coaches. Kennedy could have a losing season and still have his job. Basketball is not the major concern in 2012.
agreed.
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StrongRebel
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I heard that he did not have a buyout but I thought that was because Boone gave him a fully guaranteed contract for 4 years a couple of years ago? But if he doesn't have a buyout and his contract is not guaranteed what is stopping us from going ahead and canning him and letting Rocco be the interim head coach from the rest of the season?
I don't really care about basketball and agree that since we had to can the Nutt the likely hood of us paying another buyout is slim, but what is the problem if we don't have one?
I don't really care about basketball and agree that since we had to can the Nutt the likely hood of us paying another buyout is slim, but what is the problem if we don't have one?
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rebeldevotee
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Last I heard is ther is no buyout but it is guranteed but they did not extend him last year so the only salary left would be next years. If we go 3-13 in SEC play I think he is gone especially if there is a new AD by March.StrongRebel wrote:I heard that he did not have a buyout but I thought that was because Boone gave him a fully guaranteed contract for 4 years a couple of years ago? But if he doesn't have a buyout and his contract is not guaranteed what is stopping us from going ahead and canning him and letting Rocco be the interim head coach from the rest of the season?
I don't really care about basketball and agree that since we had to can the Nutt the likely hood of us paying another buyout is slim, but what is the problem if we don't have one?
jeffssportsblog.wordpress.com
Below is some info I found on Kennedy's contract.
Andy Kennedy:
Kennedy’s incentives are in three different categories. Here are his Southeastern Conference bonuses:
•For the 10th SEC regular season win, Kennedy gets $50,000.
•For each regular season win following the tenth, he gets $25,000.
•For winning the Western Division, either outright or shared, he gets $25,000.
•For winning the overall regular season, either outright or shared, he gets $100,000.
•For winning the SEC Tournament, he gets $35,000.
He has NCAA tournament incentives, too, which are not cumulative except for the final two. Translated: He gets the bonus that corresponds with where he winds up, unless he wins the national title, in which case he gets both of the final two bonsues:
•For participating in the first round of the NCAA tournament, he gets $25,000.
•For the second round, $30,000.
•For the third round, $35,000.
•For the fourth round, $50,000.
•For the Final Four, $100,000.
•For the title game, $150,000.
•For winning the title game, $100,000.
Here are Kennedy’s incentives for coach of the year honors:
•For SEC coach of the year (AP, UPI or USBWA), $25,000.
•For national coach of the year (AP, UPI or USBWA), $50,000.
•For Naismith national coach of the year, $50,000.
I know the U.S. Basketball Writers Association doesn’t award a SEC coach of the year. And I know the UPI no longer exists. I’m just sharing what the contract says.
Kennedy has a clause by which 25 percent, up to $40,000, of his incentives can be withheld until he is the coach the following Oct. 15 — the traditional first day of practice for the next season after these incentives would have been met — and if the most recent APR score is above 925. The other 75 percent is payable if Kennedy is the coach as of March 31 following the last incentive-matching event.
If on Oct. 15, UM’s APR is between 950 and 974, he gets $5,000. If it’s 975 or higher, he gets $10,000.
Kennedy also has a country club membership and the use of two vehicles or a monthly stipend of $1,000.
Kennedy’s contract doesn’t have a buyout, meaning that UM would have to pay out the rest of the deal if it wanted to dismiss him. As of now, that’s $2.6 million. If Kennedy wants to leave, he would owe $300,000.
Kennedy is paid $1.3 million annually. But if he eclipses 10 wins in the SEC, he gets an automatic $100,000 raise.
Andy Kennedy:
Kennedy’s incentives are in three different categories. Here are his Southeastern Conference bonuses:
•For the 10th SEC regular season win, Kennedy gets $50,000.
•For each regular season win following the tenth, he gets $25,000.
•For winning the Western Division, either outright or shared, he gets $25,000.
•For winning the overall regular season, either outright or shared, he gets $100,000.
•For winning the SEC Tournament, he gets $35,000.
He has NCAA tournament incentives, too, which are not cumulative except for the final two. Translated: He gets the bonus that corresponds with where he winds up, unless he wins the national title, in which case he gets both of the final two bonsues:
•For participating in the first round of the NCAA tournament, he gets $25,000.
•For the second round, $30,000.
•For the third round, $35,000.
•For the fourth round, $50,000.
•For the Final Four, $100,000.
•For the title game, $150,000.
•For winning the title game, $100,000.
Here are Kennedy’s incentives for coach of the year honors:
•For SEC coach of the year (AP, UPI or USBWA), $25,000.
•For national coach of the year (AP, UPI or USBWA), $50,000.
•For Naismith national coach of the year, $50,000.
I know the U.S. Basketball Writers Association doesn’t award a SEC coach of the year. And I know the UPI no longer exists. I’m just sharing what the contract says.
Kennedy has a clause by which 25 percent, up to $40,000, of his incentives can be withheld until he is the coach the following Oct. 15 — the traditional first day of practice for the next season after these incentives would have been met — and if the most recent APR score is above 925. The other 75 percent is payable if Kennedy is the coach as of March 31 following the last incentive-matching event.
If on Oct. 15, UM’s APR is between 950 and 974, he gets $5,000. If it’s 975 or higher, he gets $10,000.
Kennedy also has a country club membership and the use of two vehicles or a monthly stipend of $1,000.
Kennedy’s contract doesn’t have a buyout, meaning that UM would have to pay out the rest of the deal if it wanted to dismiss him. As of now, that’s $2.6 million. If Kennedy wants to leave, he would owe $300,000.
Kennedy is paid $1.3 million annually. But if he eclipses 10 wins in the SEC, he gets an automatic $100,000 raise.