Jacie
2/22/2009, 10:49 AM
. . . and it ain't the AD (Gerald Meyer).
Leach Agrees to Extension with Texas Tech
LUBBOCK, Texas — After months of contentious contract negotiations, Texas Tech and Mike Leach finally reached an agreement Thursday afternoon.
"I am pleased to announce today an agreement with coach Mike Leach to extend his contract through the year 2013," Texas Tech chancellor Kent Hance said. "I've always said that Mike Leach was a great fit for Texas Tech, and I think he fits us well."
"Our family all loves Lubbock and I appreciate Chancellor Hance and (athletic director) Gerald (Meyer)'s efforts to allow us to stay here and the opportunity to be your coach for the Red Raiders for what I hope is many years to come."
While the amount was settled on weeks ago, negotiations reached a stalemate earlier this month over several clauses added by the school that Leach found objectionable.
The provision that bothered Leach the most would have triggered his firing and a $1.5 million penalty if he interviewed for another job without getting permission from Myers, the athletic director. Leach's existing contract had no such restriction.
He was prepared to keep coaching under the remaining two years of a five-year, $10 million contract.
In the new contract that keeps Leach at Tech through 2013, the coach only needs to notify Myers in writing to interview at another school.
"On the issue of approval to interview another school, we've changed that to notification," Hance said. "Gerald says that's all he wants, and that's all I wanted. And Mike said that's great with him."
The contract includes a $250,000 bonus if Leach and Tech win the national championship, a $75,000 bonus if Tech participates in a BCS Bowl and a $50,000 bonus if Leach is picked as national coach of the year
If Tech terminates the contract, the school must pay Leach $400,000 for each year remaining on the agreement. And there is no buyout amount.
"After talking to [Leach] and everything, I'm convinced that this is a five-year contract but he wants to be here for a lot more than five years," Hance said. "So, I just said we'll make that zero on the buyout."
Myers said he has always wanted Leach to be Tech's coach.
"I think that got lost with all the rhetoric and speculation," Myers said. "To put it mildly this has been a tough negotiation, and it's good to get it behind us."
On Tuesday, the school's Board of Regents scheduled a special meeting hours before a second deadline passed without Leach accepting Tech's "last and final" offer. The board planned to meet Friday but that meeting was canceled once the deal was sealed.
The meeting was to have been in private to discuss Leach's status, but the coach requested a public hearing late Wednesday. Under state law, the board had to grant his request. Leach then met with Hance to discuss his contract.
In nine seasons at Texas Tech, Leach has posted a 76-39 record, including five bowl victories. He is seven wins away from becoming the Red Raiders' all-time winningest football coach.
Leach led the Red Raiders to an 11-2 record last season and share of the program's first Big 12 South title.
Leach Agrees to Extension with Texas Tech
LUBBOCK, Texas — After months of contentious contract negotiations, Texas Tech and Mike Leach finally reached an agreement Thursday afternoon.
"I am pleased to announce today an agreement with coach Mike Leach to extend his contract through the year 2013," Texas Tech chancellor Kent Hance said. "I've always said that Mike Leach was a great fit for Texas Tech, and I think he fits us well."
"Our family all loves Lubbock and I appreciate Chancellor Hance and (athletic director) Gerald (Meyer)'s efforts to allow us to stay here and the opportunity to be your coach for the Red Raiders for what I hope is many years to come."
While the amount was settled on weeks ago, negotiations reached a stalemate earlier this month over several clauses added by the school that Leach found objectionable.
The provision that bothered Leach the most would have triggered his firing and a $1.5 million penalty if he interviewed for another job without getting permission from Myers, the athletic director. Leach's existing contract had no such restriction.
He was prepared to keep coaching under the remaining two years of a five-year, $10 million contract.
In the new contract that keeps Leach at Tech through 2013, the coach only needs to notify Myers in writing to interview at another school.
"On the issue of approval to interview another school, we've changed that to notification," Hance said. "Gerald says that's all he wants, and that's all I wanted. And Mike said that's great with him."
The contract includes a $250,000 bonus if Leach and Tech win the national championship, a $75,000 bonus if Tech participates in a BCS Bowl and a $50,000 bonus if Leach is picked as national coach of the year
If Tech terminates the contract, the school must pay Leach $400,000 for each year remaining on the agreement. And there is no buyout amount.
"After talking to [Leach] and everything, I'm convinced that this is a five-year contract but he wants to be here for a lot more than five years," Hance said. "So, I just said we'll make that zero on the buyout."
Myers said he has always wanted Leach to be Tech's coach.
"I think that got lost with all the rhetoric and speculation," Myers said. "To put it mildly this has been a tough negotiation, and it's good to get it behind us."
On Tuesday, the school's Board of Regents scheduled a special meeting hours before a second deadline passed without Leach accepting Tech's "last and final" offer. The board planned to meet Friday but that meeting was canceled once the deal was sealed.
The meeting was to have been in private to discuss Leach's status, but the coach requested a public hearing late Wednesday. Under state law, the board had to grant his request. Leach then met with Hance to discuss his contract.
In nine seasons at Texas Tech, Leach has posted a 76-39 record, including five bowl victories. He is seven wins away from becoming the Red Raiders' all-time winningest football coach.
Leach led the Red Raiders to an 11-2 record last season and share of the program's first Big 12 South title.