Pretty sure I read somewhere that Saban has a rider to keep him within 500,000 of the top spot or ahead of the top spot.
Harbaugh ($9 Mil) bumps Saban from the top spot of highest paid coaches
- Thread starter vader_psu
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Pretty sure I read somewhere that Saban has a rider to keep him within 500,000 of the top spot or ahead of the top spot.
Honestly, I wouldn't be surprised if he has an extremely lucrative "annual incentive clause" for beating daO$U given all the other "win regardless of cost or means" incentives they have in his contract, including his basic guaranteed pay..... Hair-ball's contract is grotesque in terms of amount (before including the "annual incentives" which like run into the $3 million range), especially when you understand that it is coming off the backs of a low-cost 18-23 year old labor-force being used as "indentured servants" (very close to "free" relative to what Hairball is skimming off the top) within scUM's Professional Sports Franchise Model. The hypocrisy it takes for scUM's POS President and Board to represent that their program is not a "For-Profit" Inter-State Professional Franchise in regards to their NCAA Sports "Tax" and "Anti-Trust" Federal Law Exemptions is off the charts! Amazing how the NCAA has not identified the "Football Culture" and grotesque "culture of self-interest" that this hypocrisy suggests (like not prosecuting RAPISTS and their CRIMINALLY THREATENING ROOMMATES because they can help you "win football games", make lots of $$$ from winning those football games and thus enabling the "captive entity" - i.e., The University - to pay you lots and lots of $$$). Unreal......
Nope, nothing specifically for beating OSU. Gets a nice bonus if his team achieves a decent APR.
You guessed wrong. Harbaugh's max is $1.325mm. Ferentz has the highest potential bonus of coaches in the top 20 of guaranteed comp.
My word guy. You are making assumptions about the contract and then going off like they are facts. Just relax and let's be honest. All these coaches anymore get paid way to much. Even gasp Franklin. It's the direction the sport has taken unfortunately.
Nice try - Franklin makes less than half of what Hair-ball is being paid on a per annum guaranteed basis, but that doesn't "fit" your self-serving scUM SPIN and AGENDA, doe it now??? Relative to the size of PSU's average annual football revenues over the past 50 years and the size of PSU's overall Athletic Department relative to the rest of the NCAA, Franklin is well under the average of those numbers.....Hair-ball is well NORTH of what the numbers would suggest he should be paid using simple averages.....END RESULT? Hair-ball is being paid twice what Franklin is being paid despite the two athletic departments being historically the same size! LMFAO that in your mind they're both being compensated about the same......nice try there Mr. scUM Spinmeister - that's quite the bull$hit, self-serving argument and rhetoric you concocted there!
Nice try in the spin. I never once said they were being compensated the same. LMFAO. I made it a point to say they are all being paid to much. My goodness you just can't have a normal adult conversation. Carry on
Annual premium is $2 million and his base pay is $5 million. Harbaugh get's to name the bene and University gets paid back from death benefit.
Nice try again with your bull$hit spin, Franklin is NOT being paid "too much" relative to the average for Athletic Departments the size of PSU -- complete bull$hit argument that you make once again! Franklin being paid LESS than comparable Athletic Departments of PSU's SIZE are paying their Head Football Coach - that's called a FACT my friend, not your bull$hit "spun" argument which is CONTRARY TO THE FACTS! By the same token, Hair-ball is being paid VASTLY MORE than AVERAGE Head Football Coach of comparable Athletic Departments in terms of size. End result? Hair-ball is being paid MORE THAN TWICE AS MUCH AS Coach Franklin on a "guaranteed" per annum basis - again, that is a FACT unlike your self-serving bull$hit "spin" !
Actually, no. This year is anomaly in that Harbaugh is receiving $4mm toward the life insurance premium. Over the remaining five years of his contract, that amount will be reduced to $2mm p.a. Regardless of what that does to his comp, at some point he or his estate will have to repay then entire amounts provided under this part of his deal.
Regarding Franklin's comp, I have no doubt that Fester & Co. used your methodology to validate it. I'm also the King of Sweden.
You just contradicted yourself LMFAO! If the University is paid the "death benefit" they are the named "bene" genius! You just defined precisely what "Key Employee Life Insurance" is (i.e., employer takes the policy out regardless of whether it is whole life or term life.....if it is whole life it is a form of "coli"....and the employer is the named beneficiary as well as the OWNER of the policy). If Harbaugh is the owner and entitled to name "bene" than the University can't ensure that they get the death benefit....especially if relationship goes sour, Hair-ball could name whoever he wants. You clearly don't understand how "Key Employ Insurance" works as once the employer takes out the Key Employee policy, they own the policy and ultimately collect on the insureds death regardless of whether the insured leaves their employ or not.....Hair-ball would not own the Insurance - if he does own the insurance (i.e., can name the "bene") it is a form of COMPENSATION especially if it is a "whole life contract" which this sounds like it would be with a $2 million per annum premium - in fact, it sounds like a form of "limited pay premium" in other words accelerated premium that is "fully paid-up" in a short period of time.
you are one interesting person. Wanna grab a beer sometime?
Sounds like that's a "whole life contract" that Hair-ball would own (and on some "limited pay" basis - i.e., accelerated premiums) the "Face Amount" of a whole life contract that paid $4 million the first year and $2 million over each of the next five years is WAY MORE than $10 million - that's the paid in premium on a guy that is middle aged with probably a 40 year life expectancy! The notion that Hairball's estate signing an agreement that scUM will receive $9 million from the Face Amount Death Benefit (which again is a massive number and likely would have involved a syndicate of insurers put together by some type of "Lloyd's Syndicate") does not turn this into a loan - no way, no how. Those amounts - $10 million in premium over 6 years - would be considered compensation if Harbaugh is the owner, which he is as you've described it.
Great, so how much of Franklin's total comp does he have to return to PSU in the future? How much does Saban have to give back to Alabama?
Be careful. I think Professor Bushwood might be finding his inner actuary. This could be monumental.
Hair-ball signing a "non-changeable agreement" on what is probably no more than a third of the Face Value of the contract (i.e., "Death Benefit") when his heirs are getting two-thirds tax-free and it isn't likely to be paid for decades is not even remotely giving back your "compensation". Hair-ball is never going into his pocket for that money - he is able to access vested amounts tax-free via borrowing provisions and if you present value the amount that is being given back given that it doesn't go to scUM until he dies, it is nowhere close to equivalent of $9 million of compensation. OTOH, the payment of premiums by scUM for a contract that belongs to Hair-ball absolutely counts as $10 million of "compensation" in his contract - every cent of it as far as the IRS is concerned.
ESPN article explaining the loan:
http://www.espn.com/college-footbal...creased-compensation-form-life-insurance-loan
"Michigan and football coach Jim Harbaugh agreed to a contract amendment that will increase total payments from the school to $9 million in 2016.
In addition to paying a $5 million salary for each of the remaining six years on his deal, Michigan also will loan Harbaugh $4 million in 2016 and an additional $2 million for the following five years to pay the premium on a life insurance policy. The first $2 million loan was made June 3, according to records obtained Wednesday via a Freedom of Information Act request. Each additional $2 million payment will be made in December starting later this year.
As long as the insurance policy stays active, Harbaugh does not need to repay the loan until he dies. At that time, the university can recoup its original investment and the rest of the insurance payout would go to whomever Harbaugh chooses as his beneficiaries. Should the policy be stopped at any point, Michigan would still be entitled to get its money back from the insurer.
The deal insures that Harbaugh's heirs, should he die while Michigan is paying for the policy, will get no less than 150 percent of the premium that has been paid, increasing the payout by $6 million in 2016 and $3 million each successive year.
The 150 percent clause protects the university as well. Harbaugh is allowed to borrow against the policy while he is living but has to keep at least 150 percent of the premium value untouched, which gives the school a cushion to make sure it gets its investment back.
Harbaugh's original seven-year contract with the school allowed for the parties to sit down and discuss additional compensation after the coach finished his first season with the Wolverines.
Those discussions started under interim athletic director Jim Hackett in December. Hackett, the former CEO of Steelcase furniture, laid the groundwork for this deal, which a source at Michigan explained is a more commonplace form of deferred compensation in the corporate world.
New athletic director Warde Manuel had said in March that the amendment to Harbaugh's contract was nearing completion. The two sides officially came to an agreement June 3.
If Harbaugh decides to leave the school or is fired, the university will stop providing the loans for insurance premium payments. If the insurance policy is canceled for any reason after that point, Harbaugh will need to pay back the money Michigan loaned him.
Harbaugh's contract and this amendment are both set to expire in December 2021. There is a clause in the deal that allows the two sides to renegotiate after his fifth season in order to make sure Harbaugh's salary still meets market value."
It's never enough. Everyone should have learned from this economy that you get what you can when you can. I don't like it, but anyone who ignores can only blame him- or herself when they inevitably get screwed.
