Will Parcells enforce his walk-away clause?

by chrislucas on Dec 29, 2008 12:03 PM EST

http://sports.espn.go.com/nfl/news/story?id=37959

When Parcells joined the Dolphins as executive vice president of football operations last year, his deal included a onetime out clause that would allow him to walk away, with the rest of his $12 million guaranteed contract fully paid, no strings attached, if Huizenga were to sell the team.

It goes on to say:

Parcells' contract specifically states only Huizenga can be in authority over him. Once Ross officially becomes majority owner, Parcells has to notify Ross within 30 days that he intends to exercise his walk-away clause and collect the full balance of $9 million, Mortensen reported.

This of course, is all based on if Wayne sells to 95% to Ross.

Anyway, something i came I across and wanted to share.

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this has been posted a bunch already

and my answer is still the same… “yes, but it won’t matter”.

-LCFF

by LeftCoastFinFan on Dec 29, 2008 4:02 PM EST reply actions

why wouldn't he?

basically what these stories are saying is that he can walk away and get paid the same or stay, work and get paid. so why would he stay and work when you can get the same money for nothin’?

what these stories dont say is if there is a non compete clause in his contract. that is, if he takes the money and walks away, can he go work for another team right away or would he have to sit out what would be the remainder of his contract? that could be a big factor because he may not want to sit at home and do nothing.

my guess is that he is angling for a raise. i have mixed feelings about it. i read a story saying he could be interested in teh Lions job. that could only come from parcells himself. how woudl anyone else know that? i think he is playing games looking for more money.

by smirish on Dec 29, 2008 4:55 PM EST reply actions

good point.

i think the point was that BP wanted to make sure he didn’t have to deal with a “Jerry Jones”, and Wayne didn’t anticipate selling the team this quickly, so i would not be surprised if there was no “non-compete” clause. If Wayne was not worried about losing money on the Obama tax hikes, this would probably not even be being dicussed, but things just worked out this way.

-LCFF

by LeftCoastFinFan on Dec 29, 2008 5:07 PM EST up reply actions