Monday, October 08, 2007

Chan Gailey's Contract

posted by Lennie Mac

I've seen on the chat room the last couple of days that Chan Gailey should be fired and what would it take to be fired. I'm here to say that talk is moot. If you look at his contract, he could lose out this year, go 0-12 in 2008 and 2009 and he would still be the coach.

Attached is a copy of Chan Gailey's contract. You will see that it ends "December 31, 2010 (subject to the extension bonus set forth in Article III Section E.8).

That bonus was activated after Chan Gailey went to a bowl game after his first year. This extends his contract to December 31, 2011.

Article I of his contract states:

"If at any time during the term of this Contract, the Association terminates his Contract without cause" (win-loss record does not qualify as cause) "the Association shall buy out its further obligations under this Contract by paying to COACH, in equal monthly installments, all monies due COACH for each of the remaining years of the Contract under Article III.A (Annual Salary), Article III.G (Radio and Television) and Article III.H (Personal Appearances and Speaking)."

Annual Salary

2008 - $482,434
2009 - $506,556
2010 - $531,884
2011 - $531,884 (not listed in contract, but let's assume the same as 2010)

Radio and Television

2008 - $385,499
2009 - $391,195
2010 - $396,975
2011 - $396,975 (see above)

Personal Appearances

2008 - $200,000
2009 - $200,000
2010 - $200,000
2011 - $200,000

This comes to a grand total of $4,423,402 that the GTAA would owe him if they let him go after the season, or $92,154.20 a month (at least). I don't believe that the GTAA could fit this bill plus spend $1.5 million a year on another coach. Bottom line, is that WE ARE MARRIED TO HIM!!

If this thought is unbearable to you, then check back to GT Football in 2011.