Birdy on a wire: Boosters and more ...

by JL Blue on Feb 28, 2007 1:09 PM EST in Kentucky Wildcats News

A little birdy has informed me that the UK athletic director Mitch Barnhardt's denials that boosters have had any internal contact in regards to Tubby Smith's future are patently false.

This source is rock solid, and I'm not saying anything would come of it, but the wording was such that (a) there may not be trouble coming up with the funds if needed for a buyout and (b) there was talk that money may not be needed.

Take it for what it's worth, but these were big money interested parties.

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Are you saying

something will happen soon, or that the options are just on the table?

a perpetual state of bliss

by piketaylor on Feb 28, 2007 1:32 PM EST reply actions

Nothing imminent ...

Just that thre are options, yes. And that the wheels may be in motion, whether Mitch wants to publicly admit it or not.

The Online home of Big Blue Nation ...

by JL Blue on Feb 28, 2007 2:11 PM EST up reply actions

IIRC ...

there is no buyout clause in Smith's contract.

Boosters may be willing to provide the funds for the university to breach the contract and fire Smith, but I don't believe a buyout is possible unless Smith decides to take the money and quit.

Ah, yes - here it is:

The contract's incentives include bonus pay for on-court and academic excellence by his players. The contract does not include a buyout clause, Barnhart said.

by Glenn Logan on Feb 28, 2007 1:40 PM EST reply actions

Here ...

is an even better look at Smith's contract.

Looks like if he is terminated without cause before April 3rd of this year, he gets to keep his non-salary earnings for this year, his salary would go to $1M for the year, and he would get $4M for the remaining years of his contract.

If they terminated after April 3, He would get a $1.5M bonus. In addition, he would receive $4M for his unfulfilled years in remedy for the breach. ($1M for each year).

There is no buyout/early termination clause, and if Smith leaves on his own at any time for any reason, he owes the university nothing. I assume if he left prior to sanctions on his watch, that could be litigated.

Plus, if he goes to the final four this year (unlikely, I know), he gets an automatic extension for 2 more years plus a pay increase in those years.

by Glenn Logan on Feb 28, 2007 1:52 PM EST reply actions