Right now, Texas' buyout obligation to Strong is for $5.3 million in 2017 and for $5.4 million in 2018.
Under the terms of Strong's contract, Strong agreed to "make every reasonable effort to obtain other employment." And with Strong's hire as head coach at South Florida, Texas will be able to reduce its buyout obligation to Strong "by taking an offset in the amount of 50 percent of the total compensation received by (Strong) in his new position," per Strong's contract.
If USF offered Strong $2 million per year (former coach Charlie Taggart earned $1.7 million for 2016 from USF), then Texas could reduce its annual buyout obligation to Strong by $1 million - meaning Texas would owe Strong $4.3 million instead of the $5.3 million.
Strong would end up with a combined total of $6.3 million for 2017 under that scenario.
By the way, Tom Herman's contract includes a "100 percent offset" of any buyout obligation Texas would owe Herman if he was fired without cause. So if another school hired Herman in such an instance for say, $2 million, Texas would be able to deduct a full $2 million from whatever its buyout obligation was to Herman, who signed a five-year, $28.75 million deal with $25 million guaranteed.
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