Michigan AD to receive $7.14M as part of his separation agreement

[Franisdaman]

In addition to the payout, Manuel will receive former athletic director perks such as being eligible for tickets to Michigan games and having golf privileges.

The university also agreed to make a $108,000 contribution to his retirement account and pay his attorney fees of $82,000.

Wow.

Michigan athletic director Warde Manuel will receive a $7 million lump sum in his separation deal

Michigan athletic director Warde Manuel will receive a $7.14 million lump sum as part of his separation agreement with the university.

apnews.com

 

[rchawk]

In addition to the payout, Manuel will receive former athletic director perks such as being eligible for tickets to Michigan games and having golf privileges.

The university also agreed to make a $108,000 contribution to his retirement account and pay his attorney fees of $82,000.

Wow.

Michigan athletic director Warde Manuel will receive a $7 million lump sum in his separation deal

Michigan athletic director Warde Manuel will receive a $7.14 million lump sum as part of his separation agreement with the university.

apnews.com

Those are very good terms. He must know where a few bodies are buried.

 

[Kceasthawk@77]

Those are very good terms. He must know where a few bodies are buried.

No kidding, since I think that's 10X what he made/yr. Pretty sure when Harbough was there and was making 9 million the AD was making less than 800K. I mean, who's really the boss, right......

 

[oldxbbc]

Wow just wow!

 

[PinkShizzle]

 

[IACub]

Good work if you can get it. I'd love for someone to pay me $7.14M to NOT work for them.

 

[rchawk]

Good work if you can get it. I'd love for someone to pay me $7.14M to NOT work for them.

Get in line

 

[silasstarr]

It's not such a bad time to get fired as an executive.

I've had a couple of friends who were "encouraged to move on" over the past few years, and both walked away with extraordinary golden parachutes. It's a reminder that those packages often aren't just about rewarding past performance, they're also about managing risk.

Companies have every incentive to avoid messy disputes, lawsuits, or sensitive internal information becoming public. A generous severance, ongoing perks, and other benefits can make for a much cleaner exit, especially when they're contingent on confidentiality and non-disparagement agreements.

For many executives, getting shown the door can end up being one of the most lucrative days of their careers.

 

[IACub]

It's not such a bad time to get fired as an executive.

I've had a couple of friends who were "encouraged to move on" over the past few years, and both walked away with extraordinary golden parachutes. It's a reminder that those packages often aren't just about rewarding past performance, they're also about managing risk.

Companies have every incentive to avoid messy disputes, lawsuits, or sensitive internal information becoming public. A generous severance, ongoing perks, and other benefits can make for a much cleaner exit, especially when they're contingent on confidentiality and non-disparagement agreements.

For many executives, getting shown the door can end up being one of the most lucrative days of their careers.

We live in the worst timeline.

 

[silasstarr]

We live in the worst timeline.

I used to work for Paramount ViacomCBS then) and three different CEOs were fired during my time there and they all received around $30M in severance pay. Astonishing.

 

[edenprairiehawk]

Michigan sure showed him! Unethical behavior will not be tolerated