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Why Jim McElwain’s $7.5M contract buyout is so critical in talks about his future

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Terry Frei of The Denver Post.
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Buyout

Ever since Feb. 22, 1980, I never have said never.

But it boggles my mind — and frankly embarrasses me — that so many tossing darts with Jim McElwain’s name on them for job openings either don’t know about his buyout or end up tossing on a one-sentence kicker that essentially comes off as: Oh, really? Guess I better add this.

the terms of his buyout in the release about his contract extension last summer.

And the media have the coaches’ contracts, officially labeled “employment agreements.”

We’ve been mentioning the buyout for months.

And suddenly this is some kind of surprise to those compiling “among those mentioned” or “possibilities include” lists?

The reasons I’ve always used the term “initial” buyout is that the university itself said that, and also that the contract includes clauses not just calling for annual raises from the $1.5 million base salary, but additional immediate jumps for “achievements.”

For example, if CSU had been ranked in the top 25 in the CFP’s final rankings this season, McElwain’s salary would have jumped to $2 million. And the buyout would be the amount of his remaining salary in what would be presumed to be a five-year deal because of the rollover clauses.

Is Jim McElwain going to stay at CSU for the next 15 years? (He’s 52.) Probably not. Is there a chance he could leave before next season? Of course there is. Because all is possible.

I’m not going to go through everything again here. Except I’m going to emphasize this one point: If Florida (i.e., Florida boosters) pay Will Muschamp $6.3 million to go away and then the minimal $7.5 million buyout to get McElwain out of his CSU deal, even my People’s Republic math can figure out that’s $13.8 million … before McElwain coaches a game. Right. That’s no pressure on you or your family. And the boosters own you. Period.

So much of the simmering discussion now displays complete ignorance of who McElwain is, his Western background, and even that this is a guy who is PROUD of being an assistant coach in the Big Sky Conference for 15 years.

The only points I’d emphasize now more than before are these. McElwain could leave CSU is that if he has concluded or concludes:

a) the pending implementation of power conference autonomy and new rules will widen the gap between power and non-power conferences to an intolerable degree, and,

b) CSU won’t even be close to being on even footing with Boise State in the Mountain West Conference, for example.

Boise State has announced it intends to mimic the power leagues’ new rules, as much as possible. Even during the week leading up to the Colorado game this season, McElwain played up the “poor little us vs. Pac 12 school” angle for all that it was worth, saying CU likely soon would be able to legally offer additional inducements to recruits that CSU couldn’t.

Of course, McElwain could shoot down all of this by simply saying: “I’m staying.” He hasn’t done that, but with all of that up in the air, I’m not sure I can blame him for not closing doors.

I’d bring the on-campus stadium into the argument in the wake of Tony Frank’s announcement that he’s recommending moving forward with it, but that’s not all happening overnight.

Terry Frei: tfrei@denverpost.com or www.twitter.com/TFrei

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