Friday afternoon NewsChannel 11 obtained public records which indicate four things that Coach Leach finds unacceptable in his talks with Texas Tech for a contract extension. At the same time, Chancellor Kent Hance is offended by Leach's agents and says he will no longer talk to them. Leach has a February 17th deadline to accept Texas Tech's current offer.
Leach still has two years left on his current deal. But the two sides have been negotiating for months on a possible three-year extension to make it five years worth more than $12 million. (The offer was $12.1 Million. Now it's $12.7 million) The four items pertain to Coach Leach's ability to make money, but the base salary and guaranteed outside income are not the list.
1) Tech would reduce the amount of severance pay if Leach were to be fired "without cause."
2) Coach Leach could still get out of his contract early but the cost to do so would be up to $1.5 million (depending on when he left)
3) Leach has to ask permission before doing any job interviews with other schools.
4) And Leach has to allow Tech to sell his name & likeness to third parties... presumably for licensed products like t-shirts, ball caps & the like.
Leach gave us hint on Wednesday that this was coming, saying, "The money has never been the issue with the contract, not for quite some time. The biggest thing with the contract is after about a year of negotiating, four items were presented that weren't part of the original agreement and that aren't acceptable and we won't agree to."
We tried to get an updated comment from Leach Friday. He tells NewsChannel 11 by phone, "It's pretty well out my hands. You'd really have to talk my agents and Gerald Meyers." By the way, we left messages for Leach's agent Gary O'hagan.
By contrast, Chancellor Kent Hance has a very different point of view. In essence, he says the buyout for Leach to leave on his own, and the severance pay if Leach gets fired, are the same. It's $300,000 a year for either side. But in particular, Hance is offended by the way Leach's agents have acted. Hance says they went behind his back to talk to the Board of Regents. He also says they went behind his back to get coach Leach into a job interview with another school (in Seattle Washington).
He says the Board of Regents backs him and Gerald Meyers 100%. He says, "Mike, you need to be listening to someone who loves Texas Tech." Hance says that would not include two agents from Minnesota and New York.
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