How FAU Could Afford To Fire Tom Herman (a sensible contract clause)

[SUMG]

The FAU head coach signed a five-year contract with a base salary of $750,000, including annual incremental increases. For the 2024 college football campaign, Herman’s salary will be $1 million. He’ll earn $1.25 million in 2025, $1.35 million in 2026, and in the final year of the contract, he’ll earn $1.5 million.

 

Herman hadn’t been a head coach since the 2020 season when Texas fired him. He spent time as an analyst for the Chicago Bears in 2021, but made his return to college football when the Owls hired him after the 2022 season.

With FAU headed to the American Athletic Conference, the Owls needed a coach who had experience and could recruit the area well. Herman recruited well at his previous stops, and the administration believed he could do it again in Florida.

If FAU terminates his contract, he will be paid a lump sum of 20 weeks of his annual salary or the remainder of the contract, depending on which number is lower.

 

[Dannymacfan]

8 minutes ago, SUMG said:

If FAU terminates his contract, he will be paid a lump sum of 20 weeks of his annual salary or the remainder of the contract, depending on which number is lower.

 

wow if UNT did not do something similar with Morris I will be extremely disappointed.  Morris had MUCH lower credentials than Hermans did!

[Green with Envy]

I’m not sure I completely follow the math on the Herman contract.   Wouldn’t 20 weeks always be lower?  
 

Here is an abridged version of the Morris contract.    If I’m correct, my math says we can cut him loose right now for 1,980,000   

—————-

Morris will earn a base salary of $900,000 per year, plus guaranteed incentives, including a $300,000 annual radio/television stipend.

The school would be required to pay 100% of Morris’ base salary for the first 36 months of the agreement, plus 60% of his base salary for the last 24 months if he is fired without cause.

 

 

[jtm0097]

https://sportsdata.usatoday.com/ncaa/salaries/football/coach

According to this, his buyout is 2,070,000.

[FirefightnRick]

1 hour ago, SUMG said:

The FAU head coach signed a five-year contract with a base salary of $750,000, including annual incremental increases. For the 2024 college football campaign, Herman’s salary will be $1 million. He’ll earn $1.25 million in 2025, $1.35 million in 2026, and in the final year of the contract, he’ll earn $1.5 million.

 

Herman hadn’t been a head coach since the 2020 season when Texas fired him. He spent time as an analyst for the Chicago Bears in 2021, but made his return to college football when the Owls hired him after the 2022 season.

With FAU headed to the American Athletic Conference, the Owls needed a coach who had experience and could recruit the area well. Herman recruited well at his previous stops, and the administration believed he could do it again in Florida.

If FAU terminates his contract, he will be paid a lump sum of 20 weeks of his annual salary or the remainder of the contract, depending on which number is lower.

 

Imagine that?  Good find StandUp!

 

Rick

[Green with Envy]

2 hours ago, SUMG said:

If FAU terminates his contract, he will be paid a lump sum of 20 weeks of his annual salary or the remainder of the contract, depending on which number is lower.

 

Can someone put an actual number to this?   

[greenminer]

On 11/24/2024 at 12:35 PM, Green with Envy said:

I’m not sure I completely follow the math on the Herman contract.   Wouldn’t 20 weeks always be lower?

This doesn't have to be exactly correct/accurate, just trying to illustrate how 20 weeks is not the lowest possible outcome.  Let's say they fire him towards the end of Y3.

Y3, $1.25 mil annually = $104,167/month, or $24,038/week

20 weeks of Y3 salary is $480,769
Fire him with 2 months left on Y3's cycle, they only owe him $208,334

Edited 2 hours ago by greenminer

[greenminer]

I like it.  An extremely affordable out for the school in case the employee fails miserably at doing their job.  The coach isn't seen the door laughing his way into a few years paid vacation.

No more of this attractive salary stuff that equates to massive losses for the school if they have to fire for doing a piss poor job.