Jason Cole, formerly with Yahoo Sports and National Football Post, has a video posted on Bleacher Reportdiscussing the possible financial implications of firing Jay Gruden after one year. Yesterday, a rumor surfaced that the University of Michigan had reached out to Gruden's camp, and they were receptive to the possibility of coaching there next season. That report was denied by Jay Gruden's agent, and he claimed they were not contacted. The stories about Jay Gruden being one and done will continue as the Redskins season continues to spiral out of control. Fans are not happy with the team, and Gruden's management of the team, Dan Snyder can't be happy with the results, and Robert Griffin III is not happy sitting on the bench again.
We have all read the stories about Jay Gruden's contract. He reportedly signed a 5 year deal that contained more than $20 million guaranteed. If he is fired after this season that will leave 4 years and over $16 million in guaranteed money left that Dan Snyder will have to pay out. Jason Cole makes a few points about the possible structure of the deal that could make it easier, and less costly for the Redskins to part ways with Gruden.
- Contract favors the team due to splits and offsets
- Contract has offsets - If Gruden is hired by another team to be a Head Coach, Offensive Coordinator, position coach, etc... The money his new team pays him will deduct from the guaranteed money he is owed by the Redskins
- The Redskins could owe as little as $2 million/year which could also be offset
This doesn't necessarily mean that Gruden's deal is structured exactly this way, and the full details of his contract haven't been made available. Hopefully Bruce Allen would have put some safeguards into a 5 year, $20 million guaranteed deal for a first year coach. Whether this would be the only barrier that keeps Dan Snyder from firing Gruden after one season is definitely up for debate. There are many more factors involved here like the organizations support of Robert Griffin III, Bruce Allen, and the team/owner's perception around the league. There are only 20 days left until Black Monday...
[UPDATE: 12/10/14 3:45 PM] Jason Cole offers some clarification on his understanding of Gruden's contract
@BurgundyBlog guaranteed, but I was told the payouts are stretched way out to allow for more chance of offset— Jason Cole (@JasonPhilCole) December 10, 2014