They won’t call it a resignation though. They will call it a mutual parting of ways.
Darian DeVries
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They won’t call it a resignation though. They will call it a mutual parting of ways.
Negotiating the length of the payout makes sense, but that's not what people on here are saying is going to happen.
Many coaches contracts include a reduction in payout based on money made in subsequent coaching jobs (I haven't read through the terms in Prohms to know if his includes this). But if it does it is pretty common to negotiate a guaranteed amount which is less than what people reference about payout when that type of clause is included.
As others have said, it could also be negotiations based on the timing of payouts. Either spreading it out over a number of years or reducing the amount to have a lump sum up front (particularly if you have the above type of clause).
As others have said, it could also be negotiations based on the timing of payouts. Either spreading it out over a number of years or reducing the amount to have a lump sum up front (particularly if you have the above type of clause).
Any "claim" that Katie Prohm isn't happy in Ames is BS - like lots of other crap made up on this board. She loves Ames.
******* Leath. That SOB screwed over the hiring of TJ. We could be reaping the rewards of a run away freight train with the momentum we could have gotten from him at the helm. It seems like we missed the window with TJ now. And what is Leath doing now. ******* hack.
This. You negotiate a lump sum that is not eroded by future earnings. Benefits both sides and helps both move on faster.
Am I the only one here who thinks @Clonestarred is full of ****?
Or husbands of wives that love ISU and being the show in Ames. Not necessarily my vote, but . . . .
The greatest buyout story in the history of sports --
After his subpar 1999 season, the Mets released Bonilla, but still owed him $5.9 million. Bonilla and his agent offered the Mets a deal: Bonilla would defer payment for a decade, and the Mets would pay him an annual paycheck of $1.19 million starting in 2011 and ending in 2035, adding up to a total payout of $29.8 million. Mets owner Fred Wilpon accepted the deal mostly because he was heavily invested with Ponzi scheme operator Bernie Madoff, and the 10% returns he thought he was getting on his investments with Madoff outweighed the 8% interest the Mets would be paying on Bonilla's initial $5.9 million. As a result, the payout was a subject of inquiry during the Madoff investment scandal investigation when it came to light in 2008.
After his subpar 1999 season, the Mets released Bonilla, but still owed him $5.9 million. Bonilla and his agent offered the Mets a deal: Bonilla would defer payment for a decade, and the Mets would pay him an annual paycheck of $1.19 million starting in 2011 and ending in 2035, adding up to a total payout of $29.8 million. Mets owner Fred Wilpon accepted the deal mostly because he was heavily invested with Ponzi scheme operator Bernie Madoff, and the 10% returns he thought he was getting on his investments with Madoff outweighed the 8% interest the Mets would be paying on Bonilla's initial $5.9 million. As a result, the payout was a subject of inquiry during the Madoff investment scandal investigation when it came to light in 2008.
Always a great day to send a text to the Mets fans in your life.
If somebody is giving me 10% interest then I'm taking the annual payment every time.
No way to know how TJ would have worked out compared to Prohm.
And I don't think we've missed that bus yet -- he's coming to Ames if we offered.
LOL!! There are a few other folks here that know what is happening. For obvious reasons it is not being shared.
