The payoff meant that he could take a relatively low paid managerial job by current standards, which he did.
It's perfectly relevant anyway, as the club felt he should take less than a full contract payout due to his piss poor performance for 2 seasons, and he refused to agree so it went to arbitration, and the club lost. If I tossed my job up for 2 years, I'd feel a moral obligation to do a deal with my employer over severance, Bobby wrung the club out for every penny, not the actions of a 'fine man' imo.