?about these buyouts

[zreb]

If a coach has a 3 year buy out, do we pay him annually or lump? Leading me to, if he lands a job, do we pay him the salary minus what we agreed? How does that work?

 

[Catfishboy]

Generally they are paid in a series of payments. Sometimes a lump sum is paid which could be equivalent to the amount owed or sometimes slightly less. Paying in a series is beneficial because it causes less of a financial strain on the school in addition to providing the former coach time to find another job. Generally if the former coach finds another job, the payout is reduced by an offset in the funds the former coach receives from the new job.

 

[HightowerReb]

Generally they are paid in a series of payments. Sometimes a lump sum is paid which could be equivalent to the amount owed or sometimes slightly less. Paying in a series is beneficial because it causes less of a financial strain on the school in addition to providing the former coach time to find another job. Generally if the former coach finds another job, the payout is reduced by an offset in the funds the former coach receives from the new job.

So what high school is going to hire Luke?

 

[10 Htownrebs]

He couldn't manage to get his pants out of his ass. Much less another coaching job.

 

[zreb]

Hollywood may want to do a Cookie Monster movie.