Head coach Matt Rhule was recently fired by the Carolina Panthers. However, he will still walk away with heaps of cash.
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Following a 1-4 start to the 2022 NFL season, the Carolina Panthers sacked head coach Matt Rhule on Monday. The management took the call after their most recent defeat at home on Sunday against the San Francisco 49ers. Steve Wilks, an assistant coach, has been appointed as interim head coach.
Coaches getting fired is always hilarious to me.
Matt Rhule is one of the worst head coaches the Panthers have ever had, and his reward for his incompetence is an extra 40 million American dollars.
I’d walk out of that building laughing audibly after a finesse like that.
— Colb (@___Colb___) October 10, 2022
Rhule, 47, signed a seven-year, $62 million contract with the Panthers in 2020. He has gone 11-27 since then which tells you pretty much everything you need to know about why he got fired in less than 3 years of his contract.
“You’re going to win more this year than you did last year. It appears that you will win more than last year. I don’t think we’ve gotten over the hump by that definition,” Carolina Panthers owner David Tepper said about firing Rhule.
Tepper refused to go into details about exactly when he decided to fire Rhule but claimed that “it was the right time.” However, Matt Rhule is not walking off for free.
Former Panthers’ HC Matt Rhule now leaves the Panthers being owed north of $40 million.
— Adam Schefter (@AdamSchefter) October 10, 2022
Matt Rhule Will Receive $40 Million Despite Getting Fired
There are still more than $40 million left on Rhule’s contract as the former head football coach at Carolina Panthers. He is set to receive a $40 million buyout per the terms of his contract, according to NFL Insider Ian Rapoport.
However, thanks to the contract’s offset language, the Panthers would recoup most, if not all of that money, if Rhule took another job.
My understanding of the contract of former #Panthers coach Matt Rhule: Carolina is on the hook for this season, but the salaries for the ensuing seasons are offset by what his future college job pays him. Rhule gets all $40M, but Panthers likely only pay this year of it.
— Ian Rapoport (@RapSheet) October 10, 2022
Coaching contracts frequently use the offsetting language. It allows organizations to invest heavily in coaches while avoiding some of the financial risk of a buyout if the coach quickly finds another job.
Matt’s name has already been brought up in relation to the opportunities in Nebraska and Wisconsin and if he ends up taking another job, Carolina Panther might sack up the majority of his $40 million.
As far as Matt is concerned, accepting $40 million for not coaching is not a bad investment.
Also read: Carolina Panthers Training Camp 2021: Start Date, Location, Roster Battles, and Fan Policy
