February 16, 2009

The beginning of the end of the Leach era at Tech

By all accounts, Mike Leach's Red Raiders had their best season ever last year in Lubbock. Highlighted by a huge showing in the polls and a signature home win over #1 Texas, 2008 was more successful than any other year at Texas Tech.

Everything should be right as rain in Lubbock; however, there are signs of a deepening divide between the Tech administration and head coach Mike Leach. According to reports, Texas Tech and Leach are no closer to signing a contract extension than they were ten months ago, despite the 11-2 season.

And now the Red Raiders have thrown down the ultimatum - sign the extension by February 17th or live with your current deal.

Monthslong communication between Texas Tech and agents for football coach Mike Leach show a growing frustration on both sides — including a rebuke to the agents from the chairman of Tech’s Board of Regents.

The university has given Leach a Feb. 17 deadline to sign a contract-extension of $12.7 million over five years, but Leach’s agents say he won’t sign because of four added elements they say make the proposal unacceptable.

Both parties have reached a tentative agreement on base compensation - $12.7 million over five years - that is down significantly from Leach's initial request ($15.2 million over 5 years). Under the extension, Leach would be roughly tied as the third highest paid coach in the Big XII, along with Mangino and Pinkel. But -- so far -- money is the only thing that seems to be settled.

What remains are four big sticking points that have seemed to sour both sides on the relationship:

A) Texas Tech wants to pay Leach less if he is fired under his new extension ($1.5 million) than if he were fired under his current agreement ($3.6 million).

B) Tech wants to increase Leach's contract buyout in the event that he takes another job from $500,000 flat to $300,000 per remaining year. Leach wants to keep it $500,000 flat.

C) Tech wants Leach to ask for permission before interviewing for other jobs, with the right to fire him and invoke the buyout penalties if he does not have the school's permission.

D) Texas Tech wants to own Mike Leach's brand, so that "the university can sell Mike’s time and the use of his name and identity to third parties." The premise here is simple: Tech guarantees a certain annual income for Leach made of his salary and promotional monies. Leach only made $10,000 in promotional money last year. If TT can increase the promotional money portion, then they can write smaller checks to cover the remaining guarantee.

The interesting and underlying thread between all four issues is who will control Leach's future.

This entire tug-of-war seems to point to Leach's inevitable departure. In fact, much of this contract tango - when you break it down to its core - is a preliminary negotiation on what Leach will owe when he leaves the Red Raiders.

It seems that both sides are convinced that the die has been cast.

It is the beginning of the end of the Leach era at Tech.

Side Note: Fingers... rusty.... Typing... difficult.... More posts... maybe... soon. Patience... appreciated... as always....

Comments:

The beginning of the end of the Leach era at Tech
By all accounts, Mike Leach's Red Raiders had their best season ever last year in Lubbock. Highlighted by a huge showing in the polls and a signature home win over #1 Texas, 2008 was more successful than any other year at Texas Tech. Everything should be right as rain in Lubbock; however, there are signs of a deepening divide between the Tech administration and head coach Mike Leach. According to reports, Texas Tech and Leach are no closer to signing a contract extension than they were ten months ago, despite the 11-2 season. And now the Red Raiders have thrown down the ultimatum - sign the extension by February 17th or live with your current deal.
Monthslong communication between Texas Tech and agents for football coach Mike Leach show a growing frustration on both sides — including a rebuke to the agents from the chairman of Tech’s Board of Regents. The university has given Leach a Feb. 17 deadline to sign a contract-extension of $12.7 million over five years, but Leach’s agents say he won’t sign because of four added elements they say make the proposal unacceptable.
Both parties have reached a tentative agreement on base compensation - $12.7 million over five years - that is down significantly from Leach's initial request ($15.2 million over 5 years). Under the extension, Leach would be roughly tied as the third highest paid coach in the Big XII, along with Mangino and Pinkel. But -- so far -- money is the only thing that seems to be settled. What remains are four big sticking points that have seemed to sour both sides on the relationship: A) Texas Tech wants to pay Leach less if he is fired under his new extension ($1.5 million) than if he were fired under his current agreement ($3.6 million). B) Tech wants to increase Leach's contract buyout in the event that he takes another job from $500,000 flat to $300,000 per remaining year. Leach wants to keep it $500,000 flat. C) Tech wants Leach to ask for permission before interviewing for other jobs, with the right to fire him and invoke the buyout penalties if he does not have the school's permission. D) Texas Tech wants to own Mike Leach's brand, so that "the university can sell Mike’s time and the use of his name and identity to third parties." The premise here is simple: Tech guarantees a certain annual income for Leach made of his salary and promotional monies. Leach only made $10,000 in promotional money last year. If TT can increase the promotional money portion, then they can write smaller checks to cover the remaining guarantee. The interesting and underlying thread between all four issues is who will control Leach's future. This entire tug-of-war seems to point to Leach's inevitable departure. In fact, much of this contract tango - when you break it down to its core - is a preliminary negotiation on what Leach will owe when he leaves the Red Raiders. It seems that both sides are convinced that the die has been cast. It is the beginning of the end of the Leach era at Tech. Side Note: Fingers... rusty.... Typing... difficult.... More posts... maybe... soon. Patience... appreciated... as always....