All articles tagged with #contract buyout
Clemson would owe Dabo Swinney about $57 million to fire him without cause before December 31, 2026; if termination occurs on or after January 1, 2027, the payout would be the remaining base salary and supplemental compensation plus royalties. Swinney earns $3.5 million annually in royalties, and annual performance bonuses/supplemental pay total roughly $7.7–8.7 million for 2026–2031.
Jaguars win Urban Meyer’s bid for a buyout, ruling his termination wasn’t proven to be for ‘with cause,’ which saves the team more than $30 million. Witnesses included Meyer, long snapper Ross Matiscik, punter Logan Cooke, former kicker Josh Lambo and GM Trent Baalke. The piece also notes criticisms of NFL arbitration and Meyer’s controversial tenure.
UNC football coach Bill Belichick's contract allows him to leave for a $1 million buyout, and if fired without cause, the university owes him $30 million. The contract includes provisions for firing for cause related to a 'lack of institutional control,' a term linked to NCAA violations, which could potentially be used to justify termination without paying the full buyout. Recent NCAA violations and internal issues, including the suspension of a coach, have brought attention to the program's compliance and stability.
Max Verstappen may need to pay over £100 million to buy out his Red Bull contract to join Mercedes for the 2026 F1 season, with ongoing speculation about his potential move despite his current contract until 2028 and an activation clause based on championship standings.
The San Jose Sharks announced that defenseman Marc-Edouard Vlasic will be placed on waivers for a contract buyout, ending his 19-year tenure with the team, acknowledging his significant contributions and career achievements.
Bill Belichick's contract with North Carolina includes a June 1 buyout date, reducing his buyout to $1 million, and he is entering his first season with the Tar Heels amid some off-field controversy involving his girlfriend, Jordon Hudson. Despite distractions, the team is optimistic, with increased ticket sales and strategic player signings, as Belichick emphasizes a focus on process and improvement in his inaugural season.
Bill Belichick's contract with UNC has a reduced buyout of $1 million from $10 million, effective June 1, but his tenure is overshadowed by his controversial relationship with Jordon Hudson, which has attracted media attention and speculation about his future in coaching.
After the Kentucky Wildcats' first-round exit in the NCAA Tournament, speculation about the end of John Calipari's era has arisen, but his "lifetime contract" presents a significant hurdle as it stipulates a buyout of over $33 million, posing a challenge for any potential separation. With Kentucky's recent struggles in tournament play, the future of the program remains uncertain as fans and officials contemplate the next steps.
Washington Wizards guard Delon Wright, 31, has agreed to a contract buyout, paving the way for him to join the Miami Heat after clearing waivers. Wright, whose playing time diminished this season, is coming off a strong 2022-23 campaign and will provide backcourt depth for the Heat as they deal with injuries to other guards. This move marks the eighth NBA team for Wright, who is set to hit free agency this summer.
Charlotte Hornets guard Kyle Lowry has agreed to a contract buyout, allowing him to join the Philadelphia 76ers for the rest of the season on a $2.8 million deal. The six-time All-Star, who has long hoped to play for his hometown team, will reunite with his former coach, Nick Nurse, and join a reshaped Sixers roster that includes guard Buddy Hield as they aim to maintain a solid playoff position until the return of center Joel Embiid.
The Clark County School District Board of Trustees voted against accepting Superintendent Dr. Jesus Jara's resignation and contract buyout plan, prompting discussions on terminating him for convenience. The embattled leader's resignation was submitted as a mutual agreement, with pressure to ask him to leave being significant. The board's decision has sparked frustration and criticism from the public and Mayor Michelle Romero, with Jara remaining superintendent until his exit is approved.
Clemson head coach Dabo Swinney has a $9 million buyout clause in his contract specifically for Alabama, making it more expensive for him to leave Clemson for the Crimson Tide compared to any other school. Swinney, a former player and coach at Alabama, has expressed interest in coaching the Crimson Tide in the past. Despite his success at Clemson, recent struggles may prompt him to consider a return to Alabama, but the buyout clause could be a significant factor in his decision.
The Nashville Predators are buying out center Matt Duchene, who had three years left on his seven-year, $56 million contract. Duchene, who was Nashville's second-leading scorer last season, will now become an unrestricted free agent. The buyout will impact the Predators' salary cap for the next six seasons, with dead cap space ranging from $1.56 million to $6.56 million per season. This move comes as part of the Predators' efforts to reshape their roster under new coach Andrew Brunette and general manager Barry Trotz.
The Winnipeg Jets have placed Blake Wheeler on unconditional waivers for the purpose of buying out the final year of his contract. Wheeler, who has been with the franchise for 12 seasons and served as captain for seven years, leaves as the franchise leader in various categories including games played, points, assists, and shots. The 36-year-old winger holds numerous franchise records and has been a key contributor to the team's success. Wheeler expressed gratitude to the city of Winnipeg and the organization, stating that it has been an honor and privilege to represent the Jets.
Real Madrid and Eden Hazard have reached a buyout agreement, with the player leaving the club on June 30, 2023. Hazard won eight titles during his four seasons with the club, but was considered the worst signing in club history after failing to establish himself as a starter. The financial details of the buyout have not been disclosed.