JimmyBuff
Well-Known Member
From Thursday..
Colorado:
Sources tell FootballCoachScoop that Head Coach Dan Hawkins will not be back next season and could get bought out before seasons end. Sources
also tell us that the buyout is limited to three years and it would not cost CU no more than $2,550,000 to end Hawkins employment. The Athletic
Department is trying to find out where the buyout money will come from before they cut their ties with Hawkins.
Here's a post from Sept 14:
Colorado:
Hawkins' contract contains a clause limiting the school's liability to $850,000 per contract year if it should terminate him without cause. Hawkins would
have more than three years remaining if he was fired at any point this season. His contract runs through Jan. 31, 2013.
The school's total liability could approach $3 million under the terms of the deal if any partial year was prorated in a buyout. If the buyout was limited to three years, it would cost CU no more than $2,550,000. If CU athletic director Mike Bohn and Chancellor Phil DiStefano decided a change needed to be made, Hawkins would have the option of filing a claim for damages not to exceed the $850,000 per contract year. The process would then go to mediation where CU would hope to limit the buyout further. If the issue was not resolved after a month of mediation, it would be resolved in court. The athletic department remains in deeply in debt with the majority of an $8 million loan from the campus and the CU system in 2006 still to be paid off. Part of that debt was caused by the last coaching change when Bohn fired Gary Barnett at the end of the 2005 season and hired Hawkins. CU was heavily criticized for having to pay Barnett approximately $4 million when it fired him. The terms of Barnett's contract, negotiated by former athletic director Dick Tharp, required the settlement, and that led to CU trying to limit its obligations in Hawkins' contract. The department would have to borrow money to buyout Hawkins and it would be hard-pressed to do so in the current economic climate in which state funding is being significantly trimmed and some CU employees have already lost their jobs.
http://www.footballcoachscoop.com/Scoop.html
Never heard of this site before.. Found it when I was searching for Bohn's perfomance as an athletic director.. Thought I'd post it for the fire Talkins crowd.. :smile: Probably nothing but a media creation, right Hawk? :lol:
Colorado:
Sources tell FootballCoachScoop that Head Coach Dan Hawkins will not be back next season and could get bought out before seasons end. Sources
also tell us that the buyout is limited to three years and it would not cost CU no more than $2,550,000 to end Hawkins employment. The Athletic
Department is trying to find out where the buyout money will come from before they cut their ties with Hawkins.
Here's a post from Sept 14:
Colorado:
Hawkins' contract contains a clause limiting the school's liability to $850,000 per contract year if it should terminate him without cause. Hawkins would
have more than three years remaining if he was fired at any point this season. His contract runs through Jan. 31, 2013.
The school's total liability could approach $3 million under the terms of the deal if any partial year was prorated in a buyout. If the buyout was limited to three years, it would cost CU no more than $2,550,000. If CU athletic director Mike Bohn and Chancellor Phil DiStefano decided a change needed to be made, Hawkins would have the option of filing a claim for damages not to exceed the $850,000 per contract year. The process would then go to mediation where CU would hope to limit the buyout further. If the issue was not resolved after a month of mediation, it would be resolved in court. The athletic department remains in deeply in debt with the majority of an $8 million loan from the campus and the CU system in 2006 still to be paid off. Part of that debt was caused by the last coaching change when Bohn fired Gary Barnett at the end of the 2005 season and hired Hawkins. CU was heavily criticized for having to pay Barnett approximately $4 million when it fired him. The terms of Barnett's contract, negotiated by former athletic director Dick Tharp, required the settlement, and that led to CU trying to limit its obligations in Hawkins' contract. The department would have to borrow money to buyout Hawkins and it would be hard-pressed to do so in the current economic climate in which state funding is being significantly trimmed and some CU employees have already lost their jobs.
http://www.footballcoachscoop.com/Scoop.html
Never heard of this site before.. Found it when I was searching for Bohn's perfomance as an athletic director.. Thought I'd post it for the fire Talkins crowd.. :smile: Probably nothing but a media creation, right Hawk? :lol:
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