Firing a Coach - When will remaining salary be paid?

sloanrobe · 10-11-2022, 01:11 PM

I want to fire one of my coaches. He has three years left on his contract that pays him $150,000 per year. How will the remaining salary be paid out?

Will he immediately be paid a lump sum of $450,000?

or

Will he still be on the books for receiving $150,000 per year for the next three years?

sloanrobe · 10-12-2022, 09:49 AM

Anyone have input on this?

aks62 · 10-13-2022, 05:46 PM

Quote:

Originally Posted by sloanrobe

Anyone have input on this?

I think it's all paid out in the next year but don't quote me on it. I'm actually trying to figure this out myself so I'll let you know if I figure it out.

Pdubya64 · 10-14-2022, 02:08 PM

I am pretty sure it has to be taken on the current year's books. If you monitor Staff Expenses, those contracts appear when they get axed.

I regularly run up $3M-$5M in payoffs for teams like the Tigers and many others who have few worthwhile coaches in the organization.

10-11-2022, 01:11 PM	#1
sloanrobe Minors (Single A) Join Date: May 2011 Posts: 84	Firing a Coach - When will remaining salary be paid? I want to fire one of my coaches. He has three years left on his contract that pays him $150,000 per year. How will the remaining salary be paid out? Will he immediately be paid a lump sum of $450,000? or Will he still be on the books for receiving $150,000 per year for the next three years?

10-14-2022, 02:08 PM	#4
Pdubya64 Major Leagues Join Date: Jul 2008 Location: Staunton, VA Posts: 497	I am pretty sure it has to be taken on the current year's books. If you monitor Staff Expenses, those contracts appear when they get axed. I regularly run up $3M-$5M in payoffs for teams like the Tigers and many others who have few worthwhile coaches in the organization. __________________ "Chew, if only you could see what I've seen with your eyes." - Roy Batty Blade Runner

10-12-2022, 09:49 AM	#2
sloanrobe Minors (Single A) Join Date: May 2011 Posts: 84	Anyone have input on this?