Kent State suing Geno Ford

[Masterofreality]

Apparently, there was a $1.2 million payment that was in Ford's contract with Kent that he would have to make if he left. Kent is suing to get it.

"Hello, Bradley? This is (Insert Lawyer's name here). Time to shell out $1.2 million, or have your carpetbagging coach do it. We can just garnish his first two year's salary."

If Bradley pays, nothing like taking a $1.2 million hit. If Ford pays, that was some upwardly mobile raise. :rolleyes:

[Muskie]

Apparently, there was a $1.2 million payment that was in Ford's contract with Kent that he would have to make if he left. Kent is suing to get it.

"Hello, Bradley? This is (Insert Lawyer's name here). Time to shell out $1.2 million, or have your carpetbagging coach do it. We can just garnish his first two year's salary."

If Bradley pays, nothing like taking a $1.2 million hit. If Ford pays, that was some upwardly mobile raise. :rolleyes:

Something tells me he'll end up paying less (or Bradley will). The next article you'll see is that Kent St. didn't do what they promised and therefore he isn't obligated to pay.

[GoMuskies]

Rich Rod (or Michigan on Rid Rod's behalf) ended up paying the full buyout to WV, didn't they? Interesting to see if we have the same outcome here.

[xubrew]

The buyouts are paid in full in nearly every occassion. Kent State will get their money. That's more than I would have guessed the buyout to be, though.

I really don't think it's that big of a deal. It'll get worked out. Surely Bradley was aware of his contract with Kent State and the buyout that it contained.

[Masterofreality]

The buyouts are paid in full in nearly every occassion. Kent State will get their money. That's more than I would have guessed the buyout to be, though.

I really don't think it's that big of a deal. It'll get worked out. Surely Bradley was aware of his contract with Kent State and the buyout that it contained.

That's an awful lot of money for a school like Bradley. As per the below CNN article, previously posted on another thread, they only had a total basketball revenue of $2.9 million with a $24,000 profit last year. They don't play football, and you know that their non-revenue sports lose their collective asses. I don't know if they'll pay that or if they even have enough fat cats in Peoria. Caterpillar maybe.

Basketball Program Financials (http://money.cnn.com/2010/03/18/news/companies/basketball_profits/index.htm)

[xubrew]

That's an awful lot of money for a school like Bradley. As per the below CNN article, previously posted on another thread, they only had a total basketball revenue of $2.9 million with a $24,000 profit last year. They don't play football, and you know that their non-revenue sports lose their collective asses. I don't know if they'll pay that or if they even have enough fat cats in Peoria. Caterpillar maybe.

Basketball Program Financials (http://money.cnn.com/2010/03/18/news/companies/basketball_profits/index.htm)

Again, it all depends. It is a lot of money for a place like Bradley, but a decent portion of their "revenue" is probably given to them by the university. In other words, if an athletic department takes a financial loss, but the university gives them the money to make up the difference, it technically counts as revenue made for the athletic department.

I don't know the specifics of the lawsuit. Maybe Kent State wants it all at once, and Bradley didn't realize it. Maybe they weren't made fully aware of the terms of the buyout. Maybe Geno Ford didn't know himself. Maybe he has a new agent. Maybe he has no agent.

Maybe it's none of those things. I really don't know and am just speculating.

Kent State is going to get their money, though. If it is in the contract, they'll get it one way or another. It may not come directly from the athletic department, but it will come from Bradley, or Ford, or both. If it's in the contract, they have to pay it. I still think it's going to be worked out and end up not being that big of a deal. The reason I feel that way is because this is such a routine thing.

[smileyy]

Wow. He's an idiot for taking a contract with that kind of buyout.

[GoMuskies]

Wow. He's an idiot for taking a contract with that kind of buyout.

How much leverage do you think he had when he signed that agreement? And perhaps he the higher buyout was a trade for more financial security under the deal (how much Kent would owe him if they canned him without cause). Hard to say how the negotiation went.