New Mexico head coach Mike Locksley signed a renegotiated deal that would actually pay him less if he is fired. His current salary stays the same and pays him $750,000 a year, but his buy out is reduced from $365,000 per year to $150,000 per year Locksley would be owed if fired.
Also, there is now no penalty that Locksley would have to pay if he leaves before his contract expires in 2014. Locksley said that he would not have signed a new contract if he felt like it was in the best interest of my family. This all points to the fact that Locksley is on the hottest of hot seats and the restructure was done to allow New Mexico to fire him and not be in a deep financial mess. The only part of the deal that Locksley likes is that he can leave at any time and not face a penalty, but really who would hire Locksley away and why would he take a coordinator job that would pay him a few hundred thousand dollars less.
For those keeping score at home Locksley's record is 2-22, he has punched an assistant coach, black mail was involved surrounding the punching incident and he was involved in a sexual harassment and ageism case within a few months on the job.