How much of Matt Rhule’s remaining contract will Panthers have to pay?
On Jan. 7, 2020, the Carolina Panthers hired Matt Rhule to captain their ship for a whopping seven-year, $62 million contract. Well, we’re not even through the third year of that investment and the team has decided to part ways with the 47-year-old head coach.
So, what happens to all that money now?
For starters, Rhule is going to see every cent of the $40 million remaining on the deal. And seeing as though it’s a tad late for him to find a new job for the rest of the football season—the NFL or college one—the Panthers will essentially be in buyout mode with him for the rest of 2022 to the tune of $834,000 per month.
But, as we harken back to that slick little reference we just made, Rhule will undoubtedly be a hot name for a number of collegiate openings. Given his previous (and highly-acclaimed) work at Temple University and Baylor University, programs looking for a proven rebuilder at that level will certainly gauge his interest for 2023.
If that’s the case, the Panthers will get a dollar-for-dollar credit against his buyout depending on what he makes at his next stop. Quite simply, owner David Tepper would be saving himself a nice bit of money if Rhule catches back on at school.
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