Creative financing on the Flats

When I saw the details of the deal Al Groh struck with Georgia Tech on the defensive coordinator position, I wondered why the pay structure didn’t catch his former boss’ eye.

It looks like Craig Littlepage has finally caught on.

… So, how did Georgia Tech get Groh for less than half the going rate? Virginia is making up the difference.

Groh, fired by U.Va. with two years left on his contract, has a severance package worth more than $4 million. His contract with Virginia also has a clause saying that severance paid would be reduced by whatever amount Groh made elsewhere as an assistant or head coach.

Georgia Tech, though, has agreed to pay Groh a minimum bonus of $321,000 on or before Jan. 12, 2012, “regardless whether he’s still employed by Tech,” the Journal Constitution reported.

Virginia athletic director Craig Littlepage said earlier this week that he was aware of the Journal-Constitution piece and the situation was “being reviewed.”

Pretty clever, hunh?

… Groh did not return a voice message on the subject, and Georgia Tech athletic director Dan Radakovich said by phone that the school’s policy is not “to talk about those things.”

If by “those things” he means screwing another school out of 300 large, I wouldn’t talk about it either.

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10 Comments

Filed under ACC Football, Georgia Tech Football, It's Just Bidness

10 responses to “Creative financing on the Flats

  1. HornDawg

    Can’t we all (i.e. All Crap Conference) just get along?

  2. Hogbody Spradlin

    That’s not screwing Virginia out of severance, that’s ‘integrating’ Groh’s compensation plan. Everybody knows that.

  3. Chuck

    How is this news? Tech has lied and cheated for eons.

  4. What a bunch of pond-scum crap.

  5. Paul's Johnson

    Temper, temper, gang. Assuming there is a dispute in these arrangements, I’m sure that both schools with come to an agreement with something approximating a “nice little honorarium from the student fund”.

    Once we’re out from under having to pay the Chanster, we’ll be paying normal market rate for our D/C. You guys know that.

    • anon

      But you’ll still be left with Hewitt’s 26 year deal.

    • With the bonus factored in, Tech is paying the market rate anyway. That’s the point. The bonus is designed purely for the effect of screwing UVa over.

      For all I know, it was Groh who asked for it to be structured that way.

      • Mayor of dawgtown

        The bonus was designed to maximize the $ to Groh using someone else’s (i.e. UVa’s) $. It happens in professional sports with players all the time. Look, I hate Tech as much as anybody but bidness is bidness. It appears that after having Dave No-Brain as AD get them into contract trouble with buyout clauses the Nerds finally got someone at the AD’s office who turned the tables.

    • Russ

      +1 to “nice little honorarium from the student fund”.