Mike MacIntyre might not be coaching the Colorado Buffaloes anymore, but he won’t be hurting to put food on the table.
DailyCamera.com reported the following Wednesday:
The University of Colorado and former head football coach Mike MacIntyre have reached a settlement agreement that will pay him $7.238 million to close out his contract.
MacIntyre, who was fired by CU on Nov. 18 and is now the defensive coordinator at Mississippi, will receive a lump sum of $3.542 million no later than Monday, and a second lump sum of $3.696 million on Jan. 20, 2020.
The agreement was executed on Tuesday and allows CU to save roughly $3 million on MacIntyre’s buyout.
One of my favorite things about college football is the buyouts in the contracts. The funny thing here is that MacIntyre was actually entitled to $10.3 million, but it would have come in the form of monthly payments through 2021.
I’m not sure why he accepted a lower rate, but the fact he’s getting it in two lump sums is probably a major reason why.
As for the trend of big buyouts, I love them. Nothing is more entertaining than coaches who get canned and then get paid big bucks.
If I get fired, I’m pretty sure there’s not a windfall of cash that’s going to follow. Of course, I’m not a major college football coach. I might be the king of the internet, but it’s still not exactly the same. (RELATED: Arizona Cardinals New Head Coach Kliff Kingsbury’s Buyout At USC Was Only $150,000)
Imagine getting fired from your job and then getting paid millions and millions of dollars. The true heroes here are the agents responsible for putting these deals together.
MacIntyre absolutely needs to send his reps a fruit basket or something. They got him paid handsomely, despite the fact he got shown the exit.