published Wednesday, March 31st, 2010

Dooley agreement details with Tennessee released


by Wes Rucker

KNOXVILLE — New football coach Derek Dooley and the University of Tennessee have backed their professional marriage with millions of dollars.

Dooley, UT interim president Jan Simek and men’s athletic director Mike Hamilton in early March signed a memorandum of understanding that features severe financial penalties if either the coach or administration dissolves their agreement.

The six-year deal — which escalates from $1.8 to $2.3 million in total compensation, before bonuses — includes steep initial contract buyouts on each side.

If Dooley resigns between now and Feb. 15, 2012, he’d have to pay UT $4 million. That figure decreases from $3 million to $1 million to $750,000 to $500,000 during the deal’s final four years.

UT must pay Dooley $5 million if it fires Dooley without cause between now and Feb. 15, 2013. That figure decreases to $4 million the next two years, and $2.5 million in the final year.

Regardless, UT must pay Louisiana Tech $500,000 in two equal payments by next summer, in accordance with Dooley’s buyout from his previous employer.

The Vols’ assistants coaches’ memorandums of understanding were also released Wednesday, after a request from the Times Free Press.

Read Thursday’s Times Free Press for more UT coverage.

Other contacts for Wes Rucker are www.twitter.com/wesrucker and www.facebook.com/tfpvolsbeat.

about Wes Rucker...

Twitter - @wesrucker Facebook - /tfpvolsbeat

1
Comments do not represent the opinions of the Chattanooga Times Free Press, nor does it review every comment. Profanities, slurs and libelous remarks are prohibited. For more information you can view our Terms & Conditions and/or Ethics policy.
Vandy said...

The high buyouts should be in all coaching contracts.

March 31, 2010 at 6:26 p.m.
please login to post a comment

videos »         

photos »         

e-edition »

advertisement
advertisement

Find a Business

400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.