October 23, 2007
No exceptions in Butch Davis's buyout clause
The Charlotte New & Observer blog gets the deets on Tarheels head coach Butch Davis's contract and -- contrary to internet rumors -- the UNC coach does not have an "out clause" for Arkansas, Miami or any other university.
A UNC spokesman confirmed that Davis does not have an out nor are there addendums to the contract that would allow the first-year coach to leave for Arkansas, his alma mater, or any other school without a financial penalty.
According to the report, Davis's seven-year contract is worth about $1.86 million/year. If he leaves UNC to take another coaching position, the buyout escalates every year - ranging from $700K to up to $2 million.
Davis signed a seven-year contract worth about $1.86 million annually in Nov. 2006.
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Zac said:
posted on October 23, 2007 8:42 PM — 64.12.116.136 — link — abuse?I'll never understand why a coach will sign a contract for serious money, work at a school for 1 year, then book to another school for a little more money. I this case, were Davis to do that, it would run him $ 700,000 of the $1.86 million he'll have made. (It would break my heart to wind up with only $1.16 million of that.)
Sometimes things happen, where-by what was thought to be a good deal, and a potentially decent relationship, goes south fast. Case in point: Bob Bielein, WVU's former head basketball coach, negotiated to pay $1.5 million of a $2 million buy-out, so he could leave WVU and coach at MI. The move only increased his salary from $725,000 to $800,000/yr. Something must have motivated him to leave, other than the "glamour" to coach in the Big Ten(11).
I hope for NC's sake, as well as Davis' sake, if there's to be a separation, let it be mutual, dignified, and amicable. Just a thought.