TTU Athletic Director responds to Leach counter offer - KCBD NewsChannel 11 Lubbock

2/13/09 News Release

TTU Athletic Director responds to Leach counter offer

LUBBOCK, TX (KCBD) NewsChannel 11 told you first of a counter-offer from coach Mike Leach to Texas Tech.   Then we broke the story on KCBD.com that Texas Tech rejected that offer Friday.

We can now show exactly what Leach's agents have requested down to the penny and we can show why texas tech says they don't like it.

Leach's agents are proposing a contract agreeing to a 5 year deal worth between $11.1 million to $12.7 million.  It has three basic components: base salary, outside income, and bonuses.

Those bonuses include things like contract completion, successful graduation rate, winning the big 12 title and things like that. All other terms are the same as the August 2006 contract.

Texas Tech athletic director Gerald Myers said in a written statement Friday. "This so called proposal is simply an offer for us to guarantee that coach leach could never be fired.   It would cost us a maximum of $4.4 million if we wanted to change coaches in the first year."

Tech's offer calls for equal penalties.   If Leach quits he has to pay up to $1.5 million.  Likewise, if Tech fires him, they have to up to $1.5 million.   

GERALD MYERS STATEMENT REGARDING IMG'S PROPOSAL:

"This 'so called' proposal is simply an offer for us to guarantee that Coach Leach could never be fired.  It would cost us a maximum of $4.4 MILLION if we wanted to change coaches in the first year. It would cost Texas Tech millions in subsequent years of his five year contract.

"If Leach left Tech he would only pay Tech $500,000. Our proposal is a fair offer of $12.7 million for five years.  Both Leach and Texas Tech would pay the same annually decreasing buyout figures. Leach's agents' proposal is not fair. We will not even respond to such a proposal."

  • Local News on KCBD.comNewsMore>>

  • More than $55K raised for teacher who stopped shooter

    More than $55K raised for teacher who stopped shooter

    Sunday, May 27 2018 3:24 PM EDT2018-05-27 19:24:15 GMT
    Monday, May 28 2018 1:08 AM EDT2018-05-28 05:08:14 GMT
    (Southern Illinois University via AP). RETRANSMISSION TO CORRECT NAME TO JASON SEAMAN - In this undated photo, provided by Southern Illinois University, Jason Seaman, a defensive end for the SIU football team, poses for a photo in Carbondale, Ill. Seam...(Southern Illinois University via AP). RETRANSMISSION TO CORRECT NAME TO JASON SEAMAN - In this undated photo, provided by Southern Illinois University, Jason Seaman, a defensive end for the SIU football team, poses for a photo in Carbondale, Ill. Seam...
    Online fundraiser has already surpassed $55,000 goal for Indiana teacher shot while tackling armed student.
    Online fundraiser has already surpassed $55,000 goal for Indiana teacher shot while tackling armed student.
  • Bloody but forgotten WWII battle still haunts soldiers

    Bloody but forgotten WWII battle still haunts soldiers

    Sunday, May 27 2018 11:34 AM EDT2018-05-27 15:34:09 GMT
    Monday, May 28 2018 1:07 AM EDT2018-05-28 05:07:50 GMT
    (AP Photo/Mark Thiessen). In this May 19, 2018, photo World War II veterans Allan Seroll, left, of Massachusetts, and William Roy Dover, right, of Alabama, right, attend a 75th anniversary celebration of the Battle of Attu in Anchorage, Alaska. Dover w...(AP Photo/Mark Thiessen). In this May 19, 2018, photo World War II veterans Allan Seroll, left, of Massachusetts, and William Roy Dover, right, of Alabama, right, attend a 75th anniversary celebration of the Battle of Attu in Anchorage, Alaska. Dover w...

    One of the bloodiest World War II battles in the Pacific was waged 75 years ago this month on Attu Island in Alaska's Aleutian Islands.

    One of the bloodiest World War II battles in the Pacific was waged 75 years ago this month on Attu Island in Alaska's Aleutian Islands.

  • LeBron's 35 help Cavs beat Celtics 87-79, reach NBA Finals

    LeBron's 35 help Cavs beat Celtics 87-79, reach NBA Finals

    Sunday, May 27 2018 11:14 PM EDT2018-05-28 03:14:46 GMT
    Monday, May 28 2018 1:07 AM EDT2018-05-28 05:07:00 GMT
    (AP Photo/Charles Krupa). Cleveland Cavaliers forward LeBron James soars to dunk in front of Boston Celtics forward Al Horford (42) and forward Marcus Morris (13) during the first half in Game 7 of the NBA basketball Eastern Conference finals, Sunday, ...(AP Photo/Charles Krupa). Cleveland Cavaliers forward LeBron James soars to dunk in front of Boston Celtics forward Al Horford (42) and forward Marcus Morris (13) during the first half in Game 7 of the NBA basketball Eastern Conference finals, Sunday, ...
    LeBron James scored 35 points with 15 rebounds and nine assists to earn an eighth straight trip to the NBA Finals, leading the Cleveland Cavaliers to an 87-79 victory over the Boston Celtics in Game 7 of the...
    LeBron James scored 35 points with 15 rebounds and nine assists to earn an eighth straight trip to the NBA Finals, leading the Cleveland Cavaliers to an 87-79 victory over the Boston Celtics in Game 7 of the Eastern Conference finals.
Powered by Frankly