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Former Louisville men's basketball coach Rick Pitino has settled a pair of lawsuits with the school stemming from his departure amid an NCAA recruiting scandal in 2017, but the Hall of Famer won't get any of the $38.7 million he was initially seeking.
Instead, Pitino's exit is now being considered a resignation rather than a termination.
Statement - Wednesday - Lawyer - Steve - Pence
In a statement issued Wednesday through lawyer Steve Pence, Pitino said he dropped the suit because he wanted to move on 'to a new chapter in my life.'
Pitino sued the University of Louisville Athletic Association (ULAA) over future salary in November 2017, accusing the organization of breaching its contract by firing him for cause the previous month in the wake of a federal bribery investigation of college basketball.
Louisville - Damages - Games - Bonuses
Louisville countersued, seeking monetary damages for vacated games and bonuses.
The agreement comes a week after representatives for the association and Pitino held settlement talks at the federal courthouse that included the coach.
Lawyer - Advice - Lawsuit - ULAA - Pitino
'Against my lawyer's advice I'm dropping my lawsuit with ULAA,' Pitino said. 'I am very proud of the many accomplishments my teams achieved at Louisville. I'm so thankful and honored to coach such dedicated athletes. I'm also disappointed in how it ended. But as head coach I am held responsible for the actions of all team members.'
The settlement unanimously approved by the ULAA said Pitino received compensation and the school agreed not to pursue further legal action. It changes his departure to a resignation effective October 3, 2017 - 13 days before the ULAA fired him after 16 seasons as coach of the Cardinals.
Pitino - Investigation - Louisville - Cardinals - Program
Pitino was never charged in the federal investigation, but he was still fired at Louisville after the Cardinals program was implicated in the scheme, which centered around bribes being paid to the families of recruits in exchange for their commitments...
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