Have to admit, this one made me chuckle quite a bit.
In late November, Mike Riley was fired as the head coach at Nebraska after three seasons. Less than two weeks later, Riley was hired to be an assistant on Jonathan Smith‘s first coaching staff at Oregon State, where he spent two separate stints totaling 14 seasons.
Because Riley found a new job, anything he makes with the Beavers will reduce the buyout he received from the Cornhuskers. The thing is, Riley will be paid, relatively-speaking, peanuts at his new job: a smidge over $50,000 annually. Again, that’s $50,000. A five, followed by a scant four zeroes.
From LandOf10.com‘s Erin Sorensen:
When Nebraska fired Mike Riley in late November, the former coach’s buyout was $6,630,000 — or $170,000 per month until Feb. 28, 2021. That total would be reduced if Riley were to obtain employment elsewhere…
Despite finding new employment, Riley’s new contract with Oregon State breaks down to only $4,167 per month. That means Nebraska still owes $165,833 per month to the former coach.
As diehard Cornhuskers fan Larry the Cable Guy might opine, I don’t care who you are, that’s funny right there.
One final contract note: According to the Corvallis Gazette-Times, Riley received a $35,000 signing bonus as part of the contract he reportedly signed Jan. 9.