Per Auburn’s prez, more than half of the money in Gus Malzahn’s new contract is guaranteed, which means that the buyout figure is at least $24.5 million.
AL.com reports that it’s way more than half the money.
AL.com has learned that 75 percent of the money in the contract is guaranteed, and while there are a few minor details to be worked out, that percentage is not still in negotiation. Like all the major details, it’s been agreed upon by both sides.
In other words, should Auburn fire Malzahn at some point in the next seven years for losing too many games, it would owe him 75 percent of the remaining value of the contract.
For example, if he were let go with three years and $21 million left on the deal, Auburn would owe him 75 percent of that amount or $15.75 million. That’s an approximation because the contract isn’t structured as a flat $7 million a year but as a graduated amount. The average is $7 million a year over seven years.
In addition, AL.com has learned there is no offset or mitigation language in the contract. That means the amount of money Auburn would owe Malzahn should it dismiss him would not be reduced by any salary he would make at his next job.
Holy shit, Batman. And this for a guy who has to get past Alabama, LSU and Georgia every year just to make it to the SECCG.
That’s some trust, brother.