So, it's 20mm? I read on another thread there was an exemption for him going NFL? I assume that was not accurate, does anyone know more about this?

IF he leaves (hope not), how much do we, and are we willing to throw to go big?

There is no Big available to throw it at.

I've been told it's a negotiable number. Baylor will basically ask for an amount that would pay the first year salary of a new coach and maybe an assistant or two.

What the Hell? A buyout is not a buyout if it is negotiable!!! This rumor is surely false...right?

$10 mil is what I've seen

This report says $15 mil

Yeah, I like Rhule and love 11-2 , but $15 million is $15 million.

SIC EM 94 said:

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What the Hell? A buyout is not a buyout if it is negotiable!!! This rumor is surely false...right?

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Stranger has the peculiar talent of bending over and typing with whatever wind he blows out his backside.

Glad Mack got that in place when he did

Stranger said:

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I've been told it's a negotiable number. Baylor will basically ask for an amount that would pay the first year salary of a new coach and maybe an assistant or two.

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If that is the case then it is a total and complete failure on the part of Baylor, and is nothing a lawyer worth his/her salt would ever recommend.

The client (i.e., Baylor in this case) would have to override and overrule such objectionable, open-ended, and ambiguous content.

No reasonable commercial actor would agree to such terms.

Assuming what you say is accurate (and I hope it isn't), Baylor was "cucked" during the original negotiation of Rhule's buyout, and will be "cucked" again by Rhule and the NYG during the subsequent "negotiations" of Rhule's supposed buyout.

Really hope your description isn't accurate. Because if it is, Baylor is even worse off than I originally thought.

boognish_bear said:

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Glad Mack got that in place when he did

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Truly.

I'll start the poll that says he can take a little vacation money from that if it gets paid.

Btw, NFL franchise values go north of $2-3 billion. The Giants can most certainly write that check.

TellMeYouLoveMe said:

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boognish_bear said:

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Glad Mack got that in place when he did

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Truly.

I'll start the poll that says he can take a little vacation money from that if it gets paid.

Btw, NFL franchise values go north of $2-3 billion. The Giants can most certainly write that check.

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Steve Tisch, their co-owner, is a billionaire, he singlehandedly funded the nationally ranked NYU Tisch School of Arts, produced Risky Business and Forrest Gump among other movies, and owns a crap ton of ocean front real estate investments...he can afford any buyout if he wants Rhule.

A 15 million dollar benefit of paying Rhule's agreed to damages for breaching his contract for him has large tax consequences for Rhule I would think. 15 million in extra income of which one doesn't actually see a penny seems would require one to have some 5 or 6 million laying around to pay in additional taxes.

Stranger said:

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I've been told it's a negotiable number. Baylor will basically ask for an amount that would pay the first year salary of a new coach and maybe an assistant or two.

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This coming from a guy who was told Baylor couldn't build a new arena because graduation was becoming too large for the Ferrell Center.

Speculation on the buyout figure is all over the map. This puts it at $50 to $70 million.

Hiring Matt Rhule would cost Giants a tremendous amount of money

Dan Benton
Everyone has a price, but for some, that price is significantly more than other. Such will be the case when it comes to Matt Rhule, who is going to cost an NFL team a tremendous amount of money.

And as of Tuesday morning, that's looking more and more like it will be the New York Giants.

In September, Baylor announced a contract extension for Rhule, which Jay Glazer of FOX Sports estimates is around $8 million per season. That is, of course, a substantial amount of money the Giants would have to top right out of the gate, but it's hardly the costliest part of hiring Rhule.

In addition to having to offer Rhule at least $9 million per season to leave Baylor, the Giants would have to buy out his current college contract.

That's right, as part of Rhule's extention, Baylor was able to put a clause in his contract that should he leave their program or jump to the NFL, the remaining portion of his contract would have to be bought out.

In fact, ESPN's David Smoak reported in September that Rhule's buyout clause was "among the top buyouts in the industry of college football coaches contracts."

Ultimately, that means the Giants would have to pay upwards of $50-$70 million to both buyout Rhule's Baylor contract and get him signed to a new contract where he's making in excess of the $8 million annually he's currently raking in.

That's a mind-boggling investment for a guy with zero head coaching or coordinator experience at the NFL level and a guy who's amassed a career record of 47-43 at Temple and Baylor combined

PartyBear said:

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A 15 million dollar benefit of paying Rhule's agreed to damages for breaching his contract for him has large tax consequences for Rhule I would think. 15 million in extra income one doesn't actually see a penny of it seems would require one to have some 5 or 6 million laying around to pay in additional taxes.

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This is a common misconception. While the payment of the buyout (either directly by the new employer to the old employer, or as a reimbursement from the new employer to the employee) of a contract structured in the normal arrangement would be considered ordinary income to the coach, he would be able to deduct the amount as a business expense under IRS 162 without limitation.

Regardless of the method by which the payment is structured, the expense meets the IRS's third-party verification standard to classify the expense as a non-itemized deduction. It then, in both effect and substance becomes a wash for the coach for the purposes of net taxation.

When Texas hired Charlie Strong, they tried a different approach. They purchased Strong's contract from Louisville for the same amount as the buyout, then as the owners of his employment contract, renegotiated the contract to the agreed terms. This transaction still failed to eliminate the benefit to Strong of the cancellation of the buyout obligation however, and Strong would still have been required to claim the $4.375M contract purchase price as income, with the offsetting non-itemized deduction.

If the new coach were not allowed the non-limited deduction (for instance, had to claim only a limited itemized deduction, subject to the AMT), can you imagine how difficult it would be for employers in certain locales, like the New York Giants, to hire employees with contract buyouts? The employee would be saddled with additional state and local income tax obligations as well.

I understand that. Why would Baylor look out for Rhule's best financial interest still and give him a less complicated out from his deal he just signed here and agree to that? It's a business transaction for Baylor as well. Baylor doesn't need to keep giving Rhule everything he wants or the Giants what they want. Baylor's position should be his contract isn't for sale he is in breach and owes us 15 million......of course if you are open to purchasing his contract for 30 million then fine. Assumption here is y'all are right and buyout is 15 million. Baylor should only be open to selling the contract for double the buyout.

The alumni unity and fan support which Rhule has worked so hard to achieve is now being greatly eroded by Rhule himself.

Timbear said:

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The alumni unity and fan support which Rhule has worked so hard to achieve is now being greatly eroded by Rhule himself.

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Thats why he gone

BUmoneymaker said:

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Timbear said:

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The alumni unity and fan support which Rhule has worked so hard to achieve is now being greatly eroded by Rhule himself.

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Thats why he gone

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Well he better hope the NY Giants do think his market value is about where Carroll and Belichicks is and make everything work financially. But I agree he almost has to leave now. It seems he even has some of the 1-11 is fine crowd of 17 upset.

That said if he stays and wins at least 10 a season here out and is in a NY6 bowl almost annually, all of which his financial package has an expectancy there of anyway and stops looking for a few years. All will be good.

Well...that makes one more person who will be audited by the IRS before they get to any of us!

Timbear said:

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The alumni unity and fan support which Rhule has worked so hard to achieve is now being greatly eroded by Rhule himself.

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Fan support maybe, but I don't see why alumni unity would dissolve. If anything it can grow stronger with the whole family seeing that this institution is larger than one single football coach. The culture, facilities, location, and current leadership are enough so that we should be able to find a replacement that keeps things humming.

I think he meant fan support and alumni unity about Rhule not Baylor.

We can lure a high quality coach with that kind of money - if accurate

Mack will have plenty of money to go hunting with- I just hope he has his track shoes on to get Baylor's new Head Coach in place fast. Time us of the essence.

BUbackerinET said:

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We can lure a high quality coach with that kind of money - if accurate

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For that, we could dig up Bear Bryant and make a hologram that stands on the sidelines.

Not lying. Tepper spent $25 million just to get even with someone at Goldman Sachs.

This buyout ain't nothing.

BUBBFAN said:

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There is no Big available to throw it at.

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But not necessarily for OC and DC.

boognish_bear said:

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Speculation on the buyout figure is all over the map. This puts it at $50 to $70 million.

Hiring Matt Rhule would cost Giants a tremendous amount of money

Dan Benton
Everyone has a price, but for some, that price is significantly more than other. Such will be the case when it comes to Matt Rhule, who is going to cost an NFL team a tremendous amount of money.

And as of Tuesday morning, that's looking more and more like it will be the New York Giants.

In September, Baylor announced a contract extension for Rhule, which Jay Glazer of FOX Sports estimates is around $8 million per season. That is, of course, a substantial amount of money the Giants would have to top right out of the gate, but it's hardly the costliest part of hiring Rhule.

In addition to having to offer Rhule at least $9 million per season to leave Baylor, the Giants would have to buy out his current college contract.

That's right, as part of Rhule's extention, Baylor was able to put a clause in his contract that should he leave their program or jump to the NFL, the remaining portion of his contract would have to be bought out.

In fact, ESPN's David Smoak reported in September that Rhule's buyout clause was "among the top buyouts in the industry of college football coaches contracts."

Ultimately, that means the Giants would have to pay upwards of $50-$70 million to both buyout Rhule's Baylor contract and get him signed to a new contract where he's making in excess of the $8 million annually he's currently raking in.

That's a mind-boggling investment for a guy with zero head coaching or coordinator experience at the NFL level and a guy who's amassed a career record of 47-43 at Temple and Baylor combined

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Wow. We are landing on our feet if true. Should have plenty of money to get a top coach.

Exactly.

No one should be panicking. The buyout is real.

And no one should feel guilty about helping Matt clean out his office. the longer he stays here, the more damage he does. He needs to GTFO.

SIC EM 94 said:

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What the Hell? A buyout is not a buyout if it is negotiable!!! This rumor is surely false...right?

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All contracts are negotiable.

You know that.

When you are dealing with millions of dollars its always a question of "will you take x amount that we offer or spend y amount litigating the matter"

Redbrickbear said:

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SIC EM 94 said:

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What the Hell? A buyout is not a buyout if it is negotiable!!! This rumor is surely false...right?

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All contracts are negotiable.

You know that.

When you are dealing with millions of dollars its always a question of "will you take x amount that we offer or spend y amount litigating the matter"

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Exactly. Because there is a cost with enforcing a contract--especially at these numbers--the final figure is almost always less than the number on paper.

Jeez, some of you people are so out of touch with how the real world works.

Redbrickbear said:

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SIC EM 94 said:

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What the Hell? A buyout is not a buyout if it is negotiable!!! This rumor is surely false...right?

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All contracts are negotiable.

You know that.

When you are dealing with millions of dollars its always a question of "will you take x amount that we offer or spend y amount litigating the matter"

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FYI, that logic only holds up if the judge decides not to make the loser pay lthe winners legal fees.

NeuroticBear said:

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Redbrickbear said:

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SIC EM 94 said:

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What the Hell? A buyout is not a buyout if it is negotiable!!! This rumor is surely false...right?

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All contracts are negotiable.

You know that.

When you are dealing with millions of dollars its always a question of "will you take x amount that we offer or spend y amount litigating the matter"

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Exactly. Because there is a cost with enforcing a contract--especially at these numbers--the final figure is almost always less than the number on paper.

Jeez, some of you people are so out of touch with how the real world works.

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An NFL owner that gets a reputation for fighting every employment contract makes opposing attorney's richer, not poorer.

Tepper may have billions, but he doesn't own a law firm in Texas. At least not yet.

PartyBear said:

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I understand that. Why would Baylor look out for Rhule's best financial interest still and give him a less complicated out from his deal he just signed here and agree to that? It's a business transaction for Baylor as well. Baylor doesn't need to keep giving Rhule everything he wants or the Giants what they want. Baylor's position should be his contract isn't for sale he is in breach and owes us 15 million......of course if you are open to purchasing his contract for 30 million then fine. Assumption here is y'all are right and buyout is 15 million. Baylor should only be open to selling the contract for double the buyout.

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Maybe Mack negotiates the deal, then takes off for a gravy gig with Panthers PR.

https://twitter.com/i/web/status/1214604241010073600

6 mil buyout