Minnesota Taxpayers Won’t Have to Pay Former Gopher Coach
For once, Minnesotans aren't left holding the bag when another highly-paid University of Minnesota coach departs the Land of 10,000 Lakes.
Ahh, to be a big-time pro or college football or basketball coach. Sure, you're under a lot of pressure to produce results, but your contract also stipulates that you're pretty well compensated-- even when YOU break things off to head for greener pastures elsewhere.
How many different times have we seen that scenario unfold? The pro team or college (like, say, the University of Minnesota) decides to 'go in a different direction' and terminates a big-time coach. Most times, when that happens, there's a multi-million dollar 'buyout' in the coach's contract that then kicks in. So, sure, they may have just gotten 'fired,' but they walk away with several million dollars in their pocket.
Must be nice, right? Well, for once, after a coaching change, Minnesota taxpayers AREN'T footing the bill for a coach to no longer coach a team here in the North Star State. In the case of former Gopher men's basketball coach Richard Pitino, even though he was let go by the Gopher Athletic Director Mark Coyle last month-- and was due to get a 1.75 million dollar buyout-- he's not going to get a penny.
Now, I don't have anything against coach Pitino and his ability to earn a buck or two. But this time, thanks to the fact that he secured a new gig as men's basketball coach at New Mexico literally the day after he was fired in Minnesota, you and I won't be paying millions for him to NOT coach the Gophers.
It's all thanks to a provision in his contract extension signed back in 2019. According to ESPN, his contract DID stipulate that he was due that $1.75 million if he was let go prior to April 30th, 2021. But it ALSO had language that stated the 'payment was to cease once he found comparable employment,' ESPN noted. Which Pitino did-- less than 24 hours later, as the new head coach of the Lobos out in New Mexico.
Now, Pitino was still paid a nice $125,000 bonus for his team's academic performance. (A $125,000 bonus?!? Must be nice, right?!?) But at least we're not shelling out more money for a multi-millionaire coach to NOT work. Now, speaking of bonuses, if YOU could handle getting a cash bonus-- like up to $10,000 in cash-- click HERE for info on how to cash in!
And while Richard Pitino (when he was here) and current Gopher football coach P.J. Fleck are some of the highest-paid employees at the U of M, do you know who the richest person in the state of Minnesota is? Keep scrolling to find out-- and see who's the richest in every other state too.