Bruce Pearl was fired Monday by Tennessee Volunteers AD Mike Hamilton, according to a statement released by the athletic director himself. In it Hamilton alleges Pearl committed a NCAA violation in March 2011, among other things, but also reveals the dollar amount of Pearl's so-called buyout: $948,728.
It's not really technically a buyout, since Pearl didn't have a contract to begin with and had been coaching without one since the investigation began. It's an agreement that Pearl will not fight the charges levied against him by the NCAA, which will allow Tennessee to assess the damage, inform its new coach of what he (or Pat Summitt!) is stepping into, and move on with or without the support of Vols faithful.
Head men's basketball coach Bruce Pearl will be paid at his current salary rate through June 30, 2011. He will also receive $50,000 per month for 12 months, from July 1, 2011 through June 30, 2012, and will also receive health insurance costs. This cumulative figure is $948,728. Additionally, the men's basketball coaching staff will each be paid at their current salary rate through July 31, 2011.