The checks will no longer be in the mail for Derek Dooley.
The University of Tennessee was scheduled to make its final payment to its former football coach this month as part of his buyout four years ago.
Dooley was fired by Tennessee on Nov. 18, 2012, with one game remaining in the regular season. The university had to pay $5 million to buy out the remainder of Dooley’s contract. The guaranteed payments were due in installments of $102,049 per month through December of this year.
The university owed Dooley’s entire staff nearly $9.36 million in potential buyout money, including $645,000 guaranteed to Jim Chaney, who is now the offensive coordinator at Georgia.
(Chaney’s buyout payments only ran through 2013, so don’t get any ideas about Agent Chaney.)
If you think UT’s learned its lesson, pay attention to this: “Tennessee would owe Jones $10.625 million in buyout money beginning this month if he was fired without cause.” Of course, Booch has almost doubled SOD’s win total, so doubling the buyout kinda makes sense.
Question — if schools had to pay players, would they negotiate clauses like this with coaches?