UPDATE: Gerald Myers releases statement (STORY ADDED)

[A. Dickens]

Just got this from Chris Cook at Texas Tech, quotes below belong to Texas Tech athletic director Gerald Myers:

“This ‘so called’ proposal is simply an offer for us to guarantee that Coach Leach could never be fired. It would cost us a maximum of $4.4 MILLION if we wanted to change coaches in the first year. It would cost Texas Tech millions in subsequent years of his five year contract.

“If Leach left Tech he would only pay Tech $500,000. Our proposal is a fair offer of $12.7 million for five years. Both Leach and Texas Tech would pay the same annually decreasing buyout figures. Leach’s agents’ proposal is not fair. We will not even respond to such a proposal.”

Four PDF documents were attached to the release. One was a copy of the quote provided in the text of the e-mail, the other three are linked below:

IMG Offer E-Mail

Guarantee Comparison

Leach Counter Offer (2/10/09)

EDIT, 1:45 P.M.: Story added.
This post was edited on 2/13 1:49 PM by A. Dickens

IMG's counter offer rejected, deadline looms

 

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