Tech's terms of new deal turn off Leach
Mike Leach said this week he was ready to sign a new five-year contract with Texas Tech before the university tossed in new terms to its final offer that the coach refused to agree to.
The deal would have been worth $12.7 million, Leach told ESPN The Magazine senior writer Bruce Feldman. The aforementioned terms, Leach detailed, were:
• That if he is fired, his contract is only guaranteed for 12 percent. Texas coach Mack Brown, Oklahoma's Bob Stoops, Kansas State's Bill Snyder and Kansas' Mark Mangino are all guaranteed for 100 percent, while the league average is 55 percent. Leach's current contract puts his guaranteed portion at 40 percent.
• Leach's current buyout, which is $500,000, would increase to $1.5 million (Brown, Stoops, Snyder and Mangino do not have buyouts.)
• Leach would have to receive permission from Texas Tech to speak with another school or risk owing Tech $1.5 million.
• All of the money from his personal speaking properties, whether he makes an appearance or authors a book on his life in Wyoming, would go to Tech.
Leach has counter-offered with the same money and years that Tech is offering, Feldman reports, but without the four terms.
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