I tell you what bothers me more is by outs contracts with college BB & football contracts. I think KU is currently paying 3 college football coaches - and 2 of them are not working - we are talking multiple millions of dollars. I believe K-state also has a buyout contract or 2. 1 year total salary of the guys not working could support many many educational opportunities for in state minor sports programs and student athletes.

Who in the world at a state insitution would agree to these terms - this really needs to change.



K-State buyout

On May 20, 2009, Kansas State University and its athletic corporation filed suit to have an allegedly secret agreement between Prince and former athletic director Bob Krause declared invalid. Krause negotiated the agreement in 2008 with Prince's attorney, Ohio sports agent Neil Cornrich. The agreement required Kansas State to pay a total of $3.2 million in three deferred payments to a corporation called In Pursuit of Perfection, LLC, if the school terminated Prince before December 31, 2008. The payments were scheduled to be made in 2015, 2016, and 2020.

The agreement was entered into separately by Krause on the same day that Prince signed a five-year contract extension, on August 7, 2008. The agreement was allegedly discovered on May 11, 2009, as the university responded to "routine informational requests" for a lawsuit involving former coach Tim Tibesar. University president Jon Wefald denied any prior knowledge of this agreement and immediately called for Krause to resign, which he did, effective May 20, 2009.

In a subsequent release, interim Kansas State athletic director Jim Epps stated: "On May 11, 2009, I learned of a secret deferred compensation agreement that Bob Krause apparently negotiated with Ron Prince's attorney. This alleged deal was made without the knowledge of anyone else in the athletics department, including its attorney. This deal was apparently constructed as a further supplement to the buyout provision contained in Prince's employment contract. I do not know why any additional supplement was justified, or why Bob Krause concealed this agreement from everyone until it was inadvertently discovered last week."[13]

KU Buyouts

Turner Gill’s five-year, $10 million contract, would the school have until the end of the five years to pay him in full?
Gill’s contract stipulates that he gets paid one-third within 30 days of the termination date, another third within 60 days and the remaining third within 90 days. In essence Gill would have a three-month job with no responsibilities that would pay him $2 million a month.
Mangino gets $3M buyout
Deposed football coach had 4 years, $9.2M remaining on contract
Posted: December 16, 2009 - 5:41pm

NOVEMBER 2009 FILE PHOTOGRAPH/THE CAPITAL-JOURNAL
Former Kansas football coach Mark Mangino will receive a $3 million buyout after resigning with four years remaining on his contract that called for a total compensation package of $2.3 million a year.
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View a copy of coach Mark Mangino’s settlement agreement
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By Tully Corcoran
LAWRENCE — Former Jayhawk football coach Mark Mangino and Kansas Athletics agreed on a $3 million settlement, The University of Kansas announced Wednesday.
Mangino had four years remaining on his contract, which at $2.3 million per year meant he had $9.2 million left on the deal he extended in 2008. KU will pay Mangino with private funds, using no taxpayer dollars, the university said.


I imagine Mr. Renfro had his annual contract renewed prior to exploring greener pastures - and he will be working with young men still. It gives Labette at least a year to make a good hire. I think knowing he is leaving 1 year in advance is better than finding out in April, May or June of 2013.