Buyout

Discussion in 'Football' started by elmobee, Dec 14, 2001.

  1. elmobee

    elmobee Varsity Lurker

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    Who is responsible for the 1.5 million dollar buyout of O'Leary's contract? Would it be N. D. or George personally? Further, is this a matter that Tech would persue with vigor?
     
  2. bugboy

    bugboy Damn Good Rat

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    I hope that this is a matter that is resolved quickly and with little to no dispute. Not sure about the legal ramifications of any of it, since I'm not familiar with the contract wording or with contract law in general.
     
  3. law_bee

    law_bee Dodd-Like

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    I am not a contract lawyer, so this is my recollection from law school, but....

    this is my understanding (some speculation with regard to the timetable and because of limited knowledge of what was exactly in signed contract):

    the money owed to us was from GO if he left, ND then agrees to pay the buyout

    at this time ND and GO enter into a contract and my understanding was the contract was signed last thursday night.

    At this time GT becomes a 3rd party beneficiary to the contract even though GT is not a party to the contract

    As far as causes of action if someone wanted to go to court it appears that GT would have a case against GO and ND.

    GO probably has a case against ND because they "indemnified" him with regard to the buyout clause.

    ND could argue that GO was acting in "bad faith" but this is probably weaker then you would think. The contract was probably signed w/o a resume. Hell, his bio was online. I dont think he signed an application (like you do at Mickey D's)

    From what I have heard in the media GO gave the bio info to ND AFTER he got there (meaning deal done)

    I think ND pays, unless GT wants to let them slide b/c of the whole ugly mess.

    If there are any K Lawyers reading this and I have left issues out please let me know. As I stated at the beginning of this post I am NOT a K lawyer.
     
  4. lajacket

    lajacket Varsity Lurker

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    George's apology never mentioned the harm that he has just done to Georgia Tech - only the harm that he feels he has done to Notre Dame. He certainly has a short memory of a $1,200,000 lifetime job at Georgia Tech.

    I think ND has a lot more to lose with a court contest. I think we should press ND hard for the $1,500,000 and I think we will get it from them.

    ND raided our coaching staff - I feel they should pay.
     
  5. law_bee

    law_bee Dodd-Like

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    the ND board and the local atl media are saying that ND has said it WILL pay the buyout of 1.5mil