Official Geoff Collins Fired Watch Party Thread

Lotta Juice said:
But it's not "just a few weeks"
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That's what I thought as well, but it's not like I've read the contract. Based on some conversations, I'm wondering if the buyout reduces after the midpoint this year or, like I've suggested previously, relieving of duties but paying thru end of the season before official termination reduces the buyout equivalently.
 
BrentwoodJacket said:
No financial reason to wait on that one. It would also give the fan base a reason to wait on a December final resolution. The most important reason is to allow the new AD the time necessary to identify and hire a new coach in December.
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I'm pretty sure his contract has a termination clause that involves us losing money as well, just not sure on the details.
 
GTFLETCH said:
If Georgia Tech wants to fire Geoff Collins prior to 2023, they will need to pay him 100% of his remaining contract salary: $10.5 million plus.

Collins’ original seven-year contract guarantees his full salary if he is relieved of his duties as head coach at any point during the first four years of his contract. The 2022 season is Collins’ fourth year at Georgia Tech. The buyout drops to $2.4 million for each remaining season, beginning in 2023.


His annual salary looks like this:

  • 2019: $3 million
  • 2020: $3.1 million
  • 2021: $3.2 million
  • 2022: $3.3 million
  • 2023: $3.4 million
  • 2024: $3.5 million
  • 2025: $3.6 million
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Do you have the actual contract language?
 
I find it hard to believe there isn't some type of performance clause that would allow early termination with reduced buy out.
 
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GTFLETCH said:
If Georgia Tech wants to fire Geoff Collins prior to 2023, they will need to pay him 100% of his remaining contract salary: $10.5 million plus.

Collins’ original seven-year contract guarantees his full salary if he is relieved of his duties as head coach at any point during the first four years of his contract. The 2022 season is Collins’ fourth year at Georgia Tech. The buyout drops to $2.4 million for each remaining season, beginning in 2023.


His annual salary looks like this:

  • 2019: $3 million
  • 2020: $3.1 million
  • 2021: $3.2 million
  • 2022: $3.3 million
  • 2023: $3.4 million
  • 2024: $3.5 million
  • 2025: $3.6 million
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Thanks for reminding me how much we need to fire tstan
 
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