Little Frannie gets buyout

[OUsooner1]

Well he gets more money to add to his nice little newsletter fund. Personally I wouldn't have given him a dime.

COLLEGE STATION, Texas (AP) -- Texas A&M regents approved a contract buyout Friday for former football coach Dennis Franchione worth up to $4.4 million over three years.

Athletic department spokesman Alan Cannon said Franchione, who resigned Nov. 23, would be paid up to $1.7 million for each of the next two years. He would receive another $1 million in the third and final year of the agreement with the Texas A&M System Board of Regents.

Franchione's pay during the first two years would depend on how much he makes at any other job. Any pay he earns in another job would be deducted from the $1.7 million total, Cannon said.

Before he resigned, Franchione's contract had five years remaining at $2 million per year.

"I believe the agreement is fair and I would like to once again thank Coach Franchione for his work and efforts here at Texas A&M," athletic director Bill Byrne said in a statement. "We wish him and his family well in their future endeavors."

A reputed rebuilder of programs, Franchione finished a mediocre 32-28 at A&M, far short of the expectations when he replaced R.C. Slocum in December 2002. Off the field, Franchione was caught this season selling inside information about the program to big-money boosters in a secret newsletter.

He resigned about an hour after his Aggies beat the 13th-ranked Longhorns 38-30 at Kyle Field.

Mike Sherman, an assistant head coach with the NFL's Houston Texans, was hired as coach three days later.

Interim head coach Gary Darnell will lead the Aggies (7-5) against Penn State (8-4) on Dec. 29 in the Alamo Bowl in San Antonio.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

[yermom]

he must have some dirt on them ;)

i'd think that the news letter would be enough to get out of paying him

[soonerinabilene]

he must have some dirt on them ;)

i'd think that the news letter would be enough to get out of paying him

I have no legal knowledge whatsoever, but the fact that he resigned instead of being fired should keep them from having to buy him out, unless he can prove it was a forced resignation? I dont know. All i know is:

Franchione's pay during the first two years would depend on how much he makes at any other job. Any pay he earns in another job would be deducted from the $1.7 million total, Cannon said.

Why the heck would he get another job in the next two years if this is on the table?

[soonerboomer93]

um, buy outs are pretty standard among the bigger (more money) programs. The newsletter probably would free them, and he probably only resigned on the condition that he would receive a buy out. For appearances, it's generally better to have a public figure leave of their own free will then be forced out

[olevetonahill]

He Resigned . fuk him
If Ya quit yer Job you dont get to draw Unemployment . do Ya ?

[Jimminy Crimson]

If I were him, I'd go coach high school somewhere and get pretty much every penny of the 1.7MM/yr.

[Vaevictis]

I have no legal knowledge whatsoever, but the fact that he resigned instead of being fired should keep them from having to buy him out, unless he can prove it was a forced resignation? I dont know.

They probably offered him a "go away quietly" package, and because they had the newsletter thing, he took it.

[soonerboomer93]

He Resigned . fuk him
If Ya quit yer Job you dont get to draw Unemployment . do Ya ?

my understand is that in some states, yeah, you do

had someone bitch to me that people would come work for 2 weeks, then quit and they'd have to pay unemployment. This was either in Kansas or Missouri and a few years back, so **** might have changed

[silverwheels]

That must be a nice job. Become a college football head coach, get millions of dollars a year for performing poorly, then get. 4.4 million to walk away. ****.

[Crucifax Autumn]

That must be a nice job. Become a college football head coach, get millions of dollars a year for performing poorly, then get. 4.4 million to walk away. ****.

Yep...I'm applying at every college in the nation!

[Jacie]

my understand is that in some states, yeah, you do

had someone bitch to me that people would come work for 2 weeks, then quit and they'd have to pay unemployment. This was either in Kansas or Missouri and a few years back, so **** might have changed

I never realized either of those states had such liberal unemployment policies. In both of the two states I have drawn unemployment the amount of money you were entitled (this is in total, not the amount you get weekly) was directly related to how long you had worked and earned. In no case I have heard of would two weeks' work accrue enough money to get someone a check of any amount.

[Blitzkrieg]

I thought little frannie was Mrs Franchiones nickname for his one eyed snake. It's not that he has dirt on aTm, it that he has a binding contract for more money.

I've heard some nebraska lawyer hates Callahan and Petersen so much, he found a law that state employees cannot be compensated after termination, or some such crap, and since they fall under that, they get no buyout money. That would be funny.

[tulsaoilerfan]

This is almost as big a waste of money as what T Booger is doing at the other Aggie University

[bluedogok]

Fran "resigned" as much as Switzer did, they were fired under the auspice of a public resignation. If anyone believes they actually resigned of their own free will, they they are very naive.