During the last few days of the Charlie Weis era at Notre Dame, the size of Weis’s buyout was the source of much speculation in the media. The buyout was believed to be anywhere from between $5 million to over $20 million, but no one really knew – until now.
On Friday, Brian Hamilton of the Chicago Tribune reported the buyout for Weis cost Notre Dame over $6 million in 2010 with more payments to come according to their 2010 tax return.
“Termination payment of $6,638,403 was made during the reporting period to Charles J. Weis under a separation agreement that includes much smaller annual payments through December, 2015.”
What those smaller payments are is not clear at this time, but what is clear is that the cost of that 10 year extension Kevin White signed Weis to during his first season ended up costing Notre Dame nearly $7 million with that figure sure to grow more over the next four years.
It’s also not clear at this time whether or not the compensation Weis received and is receiving is exactly what was defined in his contract or if Jack Swarbrick and Weis worked out a smaller figure once the University decided to terminate Weis after a third consecutive disappointing season.
With Notre Dame still on the hook for payments to Weis, now the offensive coordinator for the Florida Gators, for a few more years, it is good to know that the University is no longer making payments to Weis predecessor, Tyrone Willingham, who was let go following the 2004 season. According to Hamilton’s report, Willingham did not receive compensation from Notre Dame in 2010.
After the strong finish to the first season of the Brian Kelly era, it would appear as though such discussions may not come up again for a while. That being said, I wouldn’t expect to see Swarbrick ink Kelly to a 10 year extension anytime soon either.