Herm Edwards Agreed To Only Take 50 Percent Of His $8 Million Buyout Like An IDIOT
The State Press — Former ASU football head coach Herm Edwards has come to an agreement with the University to take a 50% buyout of his remaining salary, according to separation agreement documents. The buyout amounts to approximately $4.4 million paid through 2024, according to an ASU spokesperson.
According to the separation agreement between the University and Edwards, Edwards will keep his $590,000 academic performance bonus, benefits until April 2024 or the date on which he begins another benefits-eligible job, and about half of the money from the remaining years on his contract.
"That then makes it an easier item from a budget perspective and it's still a lot of money, but it's less money than it would have been, and that's because we reached a mutual agreement," said ASU President Michael Crow in an interview with The State Press Thursday.
Imagine winning the lottery and then saying you'll accept half of what you won — before the government takes half again. That's what Herm Edwards just did. Absolute insanity.
Getting fired as a college football coach is the best thing that could happen to anyone in America. You no longer have to do an incredibly stressful, time-consuming job and your former employer has to cut you a check for millions of dollars. It's as good as life gets. For some reason, though, Edwards told Arizona State he'd take $4.4 million instead of the $8 million that was remaining on his contract.
I don't know if ASU was going to dispute that at all or something and I guess a bird in the hand is worth two in the bush, but I'll take my chances for an additional $4 million. It seems to me like the "accept 50 percent of the buyout" option would still be there down the road if things went sideways.
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And if Edwards was just trying to be nice or do Arizona State a solid, absolutely fuck that. This isn't taking a pay cut so the school can hire better assistants or build better facilities; they just canned your ass. Not to mention people within the program were allegedly sabotaging you in an effort to get you out. Take every cent you're owed.
I'm mad on behalf of Herm. It's sad to see someone once known for, "You play to win the game," settling for half of a buyout. Tough scenes.