Report: Louisville offered $1.5 million settlement to Pitino
When it became clear that Louisville and Rick Pitino were going to part ways, much of the discussion instantly turned to the more than $40 million left on the coach’s contract.
The school reportedly tried to avoid that whole ordeal Monday, but Pitino apparently wasn’t interested.
Louisville offered to pay $1.5 million to a charity started by Pitino in exchange for his resignation, according to WDRB-TV Louisville. Pitino did not accept and was then fired for cause by the Louisville board.
It’s little surprise to see Pitino reject such an offer with so many more millions on the table should he (almost certainly) begin legal proceedings trying to recoup the cash that Louisville says it doesn’t owe him by firing for cause.
“I vehemently reject (the school’s) right to do so ‘for cause,’” Pitino said in an affidavit sent to the school. “I have given no ‘cause’ for termination of my contract.”
The firing came on the heels of the latest controversy to hit Louisville under Pitino’s watch. First came the escort scandal that rocked the program, but now the school is part of the FBI investigation into corruption in college basketball. Ten people were arrested as part of the probe, including an adidas executive who is alleged to have orchestrated getting $100,000 to the family of a recruit in order to facilitate his commitment to the Cardinals program.
Pitino may be out at Louisville, but with more than $40 million at stake, the school surely hasn’t seen the last of him.