Buyout of AD, football coach would cost Michigan $5 million
By Phil Watson
With pressure increasing to fire University of Michigan athletic director Dave Brandon and football coach Brady Hoke, the cost to actually do so could be prohibitive for the school.
According to MLive.com, Brandon would be owed a $3 million buyout if fired before July 1, 2016.
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The former Domino’s CEO would receive his remaining base salary and an amount equal to his remaining deferred compensation as of the date of his firing, according to the report.
Fans have organized a “Fire Dave Brandon” rally for Tuesday night and a student petition calling for his firing has more than 7,800 signatures as of 4:51 p.m. Eastern.
The buyout for Brandon represents base salaries of $950,000 for 2015-16, $1 million for 2016-17 and $1.05 million for 2017-18. He is also due $850,000 in additional deferred compensation over the course of his contract, but would not be eligible for that money if he’s no longer employed by the school.
He is due $150,000 in deferred money on Feb. 27, however.
If Brandon is fired after July 1, 2016, he would only be due 50 percent of the remaining base salary and 50 percent of his remaining deferred compensation.
As for Hoke, who signed a six-year contract in March 2011, he would be owed $2 million to buy out the remaining two years left on his deal.
Hoke has already earned $11,402,000 at Michigan. That’s not counting the $1 million the school paid to San Diego State to buy out Hoke’s contract there.
U-M paid Rich Rodriguez $2.5 million in 2010 to not be the coach of the Wolverines anymore after paying West Virginia $4 million to hire Rodriguez. In all, Michigan sunk about $14 million into Rich Rod.
So it’s already been an expensive decade and dumping Brandon and Hoke would just make it more so.
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