Allen getting $15.5M according to press release

[Rags to Roses]

The university and Allen have agreed on a financial settlement of two $7.75 million installments that will be paid through the department of athletics donor funds.

https://iuhoosiers.com/news/2023/11/26/iu-athletics-announces-change-in-football-leadership

 

[kmathum]

The university and Allen have agreed on a financial settlement of two $7.75 million installments that will be paid through the department of athletics donor funds.

https://iuhoosiers.com/news/2023/11/26/iu-athletics-announces-change-in-football-leadership

Wow. Allen fell ass backwards into a pile of money

 

[welshman#]

The university and Allen have agreed on a financial settlement of two $7.75 million installments that will be paid through the department of athletics donor funds.

https://iuhoosiers.com/news/2023/11/26/iu-athletics-announces-change-in-football-leadership

In other words, a “negotiated settlement,” which some people insisted would never happen.

 

[Cap99]

Hopefully he will show some LEO and make a 7 figure donation to our NIL fund.

 

[George.Smalley]

In other words, a “negotiated settlement,” which some people insisted would never happen.

I wonder if the settlement includes an offset.

 

[GR8IUFAN]

Don't quite understand.
As I read it right, if they wait 1 week the buyout goes down to 8 million.
What is the downside of waiting just 1 week?

 

[Pazhoosier85]

Don't quite understand.
As I read it right, if they wait 1 week the buyout goes down to 8 million.
What is the downside of waiting just 1 week?

Buyout didn't go that low until December 1st 2024. It's a moot point now anyway. Let's go get a coach before the portal opens up.

 

[GR8IUFAN]

Buyout didn't go that low until December 1st 2024. It's a moot point now anyway. Let's go get a coach before the portal opens up.

The article said 2023

 

[oldcougar77]

The article said 2023

The article you read was wrong, apparently. The buyout was scheduled to drop to 20million on Dec. 1 of this year. Appr. 8 million on Dec. 1, 2024.

 

[Big Red Crimson Buffalo]

A settlement was what I was told after Illinois loss. Played out as was being reported behind the curtains.

 

[hoosierfan13]

He gave up 5.3 million to quit a year early?

I would have played the whole "We are so close, look at our last 4 games, we can easily turn this into a bowl team" card.

 

[82hoosier]

I wonder if the settlement includes an offset.

His original contract had an offset against future earnings. There is no offset in this settlement agreement.

 

[IU_Hickory]

He gave up 5.3 million to quit a year early?

I would have played the whole "We are so close, look at our last 4 games, we can easily turn this into a bowl team" card.

He gave up 4.5 million so that he can earn money at another job without it offsetting his buyout.

 

[iubhounds]

I wonder if the settlement includes an offset.

I think most of them do. It did in the BB buyouts.

 

[Courtsensetwo]

I think most of them do. It did in the BB buyouts.

Not thiss version.