AAR contract 😲

[flsportsfan83]

Salary, contract details for new USF basketball coach Amir Abdur-Rahim

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Abdur-Rahim signed a six-year deal that averages slightly more...

 

[bulloni]

Quote

Rahim will make $1.1 million in Year 1, with that figure increasing to $1.35 million the final year. His staff salary pool remains at $1 million the first two years, and ultimately tops out at $1.05 million.

Abdur-Rahim would owe USF $2 million if he departs before March 31, 2024. That buyout ultimately falls to $500,000 in the final year of the deal. If USF fires Abdur-Rahim without cause, the Bulls owe him 20 weeks of his $500,000 base salary.

Sounds cheap? 20 weeks of a half a million for us to buyout is chump change

[Mike Stuben]

So, I'm confused. 

I don't believe the 20 week buyout. (I think state requires that, but Foundation contract will have real buyout numbers)

I am guessing there is a second contract with USF Foundation that we are not privy too, but why didn't the article address that. 

Just now, bulloni said:

Sounds cheap? 20 weeks of a half a million for us to buyout is chump change

That is likely just part of the deal. The article fails to address his Foundation contract, that probably has the real totals. 

[CousinRicky]

14 minutes ago, Mike Stuben said:

So, I'm confused. 

I don't believe the 20 week buyout. (I think state requires that, but Foundation contract will have real buyout numbers)

I am guessing there is a second contract with USF Foundation that we are not privy too, but why didn't the article address that. 

That is likely just part of the deal. The article fails to address his Foundation contract, that probably has the real totals. 

I don't think they ever publicize/announce the Foundation deals. Pretty sure it isn't a public institution and subject to whatever laws that guide the University.

[Mike Stuben]

Just now, CousinRicky said:

I don't think they ever publicize/announce the Foundation deals. Pretty sure it isn't a public institution and subject to whatever laws that guide the University.

I get that. What I am saying, the article failed to mention that additional terms, and compensation may be present in a foundation contract. Meaning the article created the appearance that this was all his buyout was (and all his compensation is). 

I know USF isn't going to show us the foundation contract, but we shouldn't assume it doesn't exist just because they don't give it to us. 

[CousinRicky]

14 minutes ago, Mike Stuben said:

I get that. What I am saying, the article failed to mention that additional terms, and compensation may be present in a foundation contract. Meaning the article created the appearance that this was all his buyout was (and all his compensation is). 

I know USF isn't going to show us the foundation contract, but we shouldn't assume it doesn't exist just because they don't give it to us. 

Have they ever mentioned those contracts in the past? Usually I only hear about it when it is time to fire a guy and then you read that there is probably some back room deal with the Foundation. Honestly don't remember reading about it when a guy gets hired. But I'm old so there is that.

[Brad]

[jjlovecub]

I love that we are already talking buyout 

[Triple B]

5 hours ago, CousinRicky said:

Have they ever mentioned those contracts in the past? Usually I only hear about it when it is time to fire a guy and then you read that there is probably some back room deal with the Foundation. Honestly don't remember reading about it when a guy gets hired. But I'm old so there is that.

Was thinking the same thing ...... but to say we're kind of gun shy at this point when it comes to having to fire a coach is a huge understatement, it's understandable it enters the picture these days.

[michibull]

10 hours ago, jjlovecub said:

I love that we are already talking buyout 

That’s when you know your schools athletics program has officially hit rock bottom, already planning on firing your newly hired coach before he even holds a practice