Fire Paul Hewitt

01/07/2010

The Paul Hewitt Contract

Filed under: Uncategorized — Peter @ 11:57 AM

Someone has up loaded Paul Hewitt’s contract onto the document hosting service, Scribd.  Here is a link to the document: Paul Hewitt Contract | Scribd.  If anyone knows the source of this, please let me know, I’d love to personally thank them.

Some highlights:

1) He gets paid at least $1.35 million annually for the life of the contract.

2) He has what some people refer to as an “Evergreen clause” (I call it a perpetual option clause).  Basically, at the end of every season, another year is tacked onto the end of his contract, such that he always has six years remaining on his contract.

3) If Georgia Tech chooses to fire him, they’ll be on the hook for all 6 years of the $1.35 million per season, unless he does something incredibly fucking stupid like get a DUI or break NCAA recruiting regulations, et cetera.

It’s something we all need to keep in mind when we’re talking about firing Paul Hewitt.  $8.1 million (minus the present day dollars discount) is a fuck ton of money to pay someone as termination pay.  Perhaps keeping even the worst of coaches is more profitable than paying him $8.1 million for the privelege of signing another coach to a similarly lucrative contract.

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