For 2nd Time in His Career, CFB Coach Gary Andersen Turns Down Buyout & Walks Away From Millions
College football coaches at Division I programs are well paid. Even fired coaches are well paid. Why? Buyouts. Agents negotiate with athletic directors on buyout clauses.
On one hand, a buyout clause can end up helping a school when a successful coach leaves them for a different opportunity. For example, Tennessee just hired UCF football coach Josh Heupel. Tennesee will pay UCF $2.5 million in buyout money in order to do so.
However, when a coach has a giant buyout but is fired due to the program not experiencing enough on-field success, a program is on the hook for the buyout.
In fact, this year alone, over $100 million will be paid to coaches who were let go.
If you're fired, a 7 or 8 figure severance package isn't a bad way to go out.
Unless your coach Gary Andersen, for for the second time in his career, refused to accept the buyout money after being relieved of his duties.
Andersen was fired by Utah State in November, and according to The Desert News, would not allow the University to pay the $2.7 million remaining on his contract.
Earlier in his career, Andersen resigned with Oregon State and waived the buyout clause of his contract. At the time, he was 7-22 as head coach of the Beavers, with $12 million left on his deal.