South Carolina football coach fired Will Muschamp received a substantial purchase to end his contract, which was paid in a single amount before the end of the 2020 calendar year. Muschamp received $ 12.9 million at one time, which is more than $ 3 million less than he would have been paid during the term of the contract.
Athletics Director Ray Tanner and the South Carolina team worked with the Muschamp staff to come up with a lump sum that best suited both parties. The amount was settled and paid in December, and the two sides can move on.
Muschamp is now officially part of the Georgia football team, working as an analyst for rival SEC East.
In an appearance with Jay Philips and Pearson Fowler on The Halftime Show in 107.5 The Game, here’s what Tanner said about how the two sides made the total purchase.
“There were mutual conversations on both sides with Coach Muschamp’s team and me and the people who work with me at the University to reach a point where we could reduce the total purchase package. The contract gives us the opportunity to pay us monthly until the end of the contract. There was an opportunity for him to receive a lump sum in the current state of affairs in this country. Who knows what will happen in the future in this country with regard to changes in the presidential administration. There were many different points in the conversation that we had that benefited us and also benefited Coach Muschamp. We reached an agreement that was a reduced acquisition.
This is my ninth year dealing with the budget. We were 15 consecutive years in which we were fiscally responsible in a way that we were operating in black. Maybe it’s Eric Hyman’s first year, we didn’t make it, but we’ve been doing it every year since. COVID launched us an absolute curve, sliding mix where you couldn’t do that without attending football. We had to rotate and do many things differently.
We had the opportunity to have the financial capacity to move on, but that doesn’t affect any of our sports programs or anything we do in the athletics department. The debt for this acquisition will fall on athletics. “
Asked if there was any incentive that specifically stepped up to finance the purchase, as it did elsewhere, Tanner did not elaborate.
“Sometimes, when you see these stories across the country, they are exaggerated to a certain extent. I think, in certain cases, you have donors who will stand up and help you. I see this as designated or unassigned money, so the opportunity to move your program in the direction that a specific donor says: ‘You do what you think is best for program operations’ without specific dedication. That money is at stake. We will have to be responsible for that money that you are talking about over the years ”.