| the Talking Can |
02-18-2009 05:59 AM |
Mike Leach?
clock still ticks..
Quote:
No new deal for Texas Tech coach Mike Leach; regents schedule meeting
02:58 AM CST on Wednesday, February 18, 2009
By BRANDON GEORGE / The Dallas Morning News
[email protected]
Texas Tech's 5 p.m. deadline Tuesday given to football coach Mike Leach to sign its latest contract extension offer came and went with still no resolution.
"Coach Leach has declined our $12.7 million contract," Tech athletic director Gerald Myers said in a statement Tuesday. "We will enter the decision-making process and should have some announcements by next week. Our decisions will be based on the best interest of Texas Tech and all of its supporters."
The Texas Tech Board of Regents, however, announced Tuesday a "special called teleconference meeting" from 2 to 3 p.m. Friday, when in executive session, they will have a "discussion and consideration of matters ... including but not limited to the position of the football head coach."
In a phone interview Tuesday evening, Leach was asked if he was worried about being fired.
"Not really," Leach said. "We have an agreement both parties signed. We agreed to do two more years, and I don't see how that could be unsatisfactory to anybody. Why anybody would have a problem with two years left on my contract, I don't know."
He admitted disappointment with the events that have led to this point.
"Yeah, me and a lot of people are," Leach said.
About 40 people showed up at a rally on Leach's behalf just before noon Tuesday at the school's football offices in Lubbock to show their support. Leach, who returned to Lubbock late Monday after attending a rugby match in Wales on Saturday and the Daytona 500 on Sunday, briefly addressed the crowd, many of whom were students holding signs.
Tech chancellor Kent Hance said last week that if Leach didn't sign before the Tech-imposed deadline, then the coach would continue to operate under his contract that runs through 2010.
He is due to be paid $2.65 million next season and $2.35 million in 2010, which includes an $800,000 contract completion bonus at the end of 2009 and another completion bonus of $200,000 at the end of 2010.
Tech has the right to terminate Leach's current contract "without cause at any time and for any reason." Tech would, however, then have to pay Leach "liquidated damages" in an amount equal to 40 percent of the remaining guaranteed compensation and benefits. Since Leach is owed a guaranteed $4 million left on his contract, Tech could terminate him without cause and owe him $1.6 million.
Hance, who was in Austin on Tuesday and could not be reached for comment, has said that Tech possibly could make another run at extending Leach's contract after next season.
Tech officials and Leach's International Marketing Group agents, Gary O'Hagan and Matt Baldwin, have agreed in principle on compensation terms of $12.7 million over five years. However, negotiations have unraveled since Tech added four provisions Jan. 9.
The four points involve the guaranteed termination compensation Leach would receive if fired, the buyout amount he would pay if he left early, a penalty for interviewing for another job without permission and who controls Leach's personal property rights.
After 10 months of fruitless negotiations, Leach effectively enters the realm of a lame duck coach with a cloud of uncertainty hanging over his head.
Tech's Junior Day, when many of the state's top high school junior football recruits will be on campus, is a few weeks away. With Leach's future filled with insecurity, the Red Raiders' 2010 recruiting class could certainly take a hit.
All this comes after Leach led Tech to its best regular season in school history and an 11-2 record last year.
"If this doesn't come out favorably, which is mind-boggling because where did I fall short ... ," Leach said. "My only concern right now is coaching this team."
Staff writer Chuck Carlton contributed to this story.
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