Vuren Posted May 20, 2009 Share Posted May 20, 2009 they really hate them selves K-State Files Suit Asking Court To Declare Secret Agreement Invalid Kansas State University and its athletic corporation is filing suit today, asking a court to declare invalid a secret agreement signed by Bob Krause, its former athletic director, and by former head football coach Ron Prince for a company called In Pursuit of Perfection, LLC. The secret agreement was signed without the knowledge of anyone else at K-State, according to K-State President Jon Wefald. (uh huh, right ... sounds just like something Krause would do) If determined to be valid, K-State’s athletic corporation would have to make $3.2 million in deferred compensation payments to In Pursuit of Perfection between 2015 and 2020. (Holy Sh!t) In addition to other legal claims, K-State argues that Ron Prince’s attorney, Ohio sports agent Neil Cornrich, impermissibly negotiated this secret agreement without involving attorneys for the university. K-State contends that, under attorney ethical rules, Cornrich was required to obtain permission from K-State lawyers before negotiating directly with Krause. Interim athletic director James Epps issued the following statement: “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. “I do not believe that this agreement is valid, and the athletics department will vigorously fight any attempt to enforce it.” K-State President Jon Wefald said, “I learned shortly after Jim Epps about the secret deferred compensation agreement between Bob Krause and Ron Prince’s attorney. I was shocked and saddened to find out about this agreement. No one in central administration or athletics knew about this agreement. We all thought that the August 2008 press release accurately described Ron Prince’s one year contract extension and his salary increase from $750,000 to $1.1 million. We thought that any compensation he was owed was in that contract. We had no knowledge whatsoever of this secret agreement between August 2008 and May 2009, and it was therefore unavailable to the auditors, Grant Thornton, who were retained by the Board of Regents to do an exit analysis. “After Jim Epps and I learned about the secret agreement, we spent several days explaining to Ron Prince and his agent why they should consider the agreement was null and void. That failed. We believe that this secret agreement made between Bob Krause and Ron Prince’s attorney is null and void and we will act accordingly. “This has happened on my watch. I appointed Bob Krause to be athletic director. He has been a longtime friend. I regret deeply and apologize that this happened while I was president. But we do regard this secret agreement as null and void. Like the Interim AD Jim Epps and his staff, we have been completely caught off guard. “I have asked for Bob Krause’s resignation as director of economic development for the K-State Olathe Innovation Campus and he has resigned, effective today.” K-State discovered the secret agreement May 11, 2009, while responding to routine informational requests in a lawsuit involving one of its former assistant football coaches. http://kstatenews.org/?p=1388 Quote Link to comment
topekahusker Posted May 20, 2009 Share Posted May 20, 2009 Jeff Martin that broke the story for the Wichita Eagle and hastened K State's need to act on this was on WIBW 580 this afternoon. He was tipped off last week while he was on vacation, tried to get info from the department Monday when he got back to the office, felt he was being stonewalled, so he filed a Freedom of Information request yesterday. He claims he has new info on this that will be published tomorrow (Thursday a.m.) Quote Link to comment
HSKRNOKC Posted May 21, 2009 Share Posted May 21, 2009 Leave Prince alone. He had this clause put in to guarantee he could finish paying pappa Freeman off. Quote Link to comment
caveman99 Posted May 21, 2009 Share Posted May 21, 2009 Holy hell is right. I re-read this several times to make sure that it said what I thought it said because it is unbelievable. Quote Link to comment
Vuren Posted May 21, 2009 Author Share Posted May 21, 2009 Holy hell is right. I re-read this several times to make sure that it said what I thought it said because it is unbelievable. here's the sad part, wefald is a bald face liar, krause was so tied to his hip that he wouldn't do this with out weefers command. wefald made him the fall boy. Quote Link to comment
BIGREDIOWAN Posted May 21, 2009 Share Posted May 21, 2009 I love it and they are screwed! Rot in hell KSUcks..................... Quote Link to comment
zoogs Posted May 21, 2009 Share Posted May 21, 2009 Wow, you have to feel sorry for them. That's just incredible. Quote Link to comment
teamster Posted May 21, 2009 Share Posted May 21, 2009 http://www.kansascity.com/385/story/1207850.html Quote Link to comment
HuskerMack Posted May 21, 2009 Share Posted May 21, 2009 http://www.kansascity.com/385/story/1207850.html Props to Ron pulling that one off if it sticks!!! Wonder how much of a kick back the AD was going to get out of that? Quote Link to comment
HSKRNOKC Posted May 21, 2009 Share Posted May 21, 2009 Combined similar topics. Quote Link to comment
teamster Posted May 21, 2009 Share Posted May 21, 2009 Be sure and read page #2 of the above link. The previous AD was also cleaning up pretty good with KSU paying him consulting fees earlier. And there were people asking for Pearlman's head after the Pederson/Cal fiasco. KSU is in train wreck mode. Bill Snyder doesn't have enough cardio left to get the football program back on track. And . . . that is just one of the athletic department's issues. Quote Link to comment
HSKRNOKC Posted May 21, 2009 Share Posted May 21, 2009 Be sure and read page #2 of the above link. The previous AD was also cleaning up pretty good with KSU paying him consulting fees earlier. And there were people asking for Pearlman's head after the Pederson/Cal fiasco. KSU is in train wreck mode. Bill Snyder doesn't have enough cardio left to get the football program back on track. And . . . that is just one of the athletic department's issues. Agree. They have HUGE problems to over come. Oh well.. it keeps the KSU trolls away I guess. Quote Link to comment
Vince from ShamWOW Posted May 21, 2009 Share Posted May 21, 2009 wow.. that's a lot of cash for someone who destroyed any credibility that the program had to begin with. Signed, Bill Callahan Quote Link to comment
Reebsker Posted May 21, 2009 Share Posted May 21, 2009 It would really suck for the students if KSU had to eliminate a few athletic programs or courses of study to finance this one if it does stick. Quote Link to comment
huzkerbob Posted May 22, 2009 Share Posted May 22, 2009 Wow, you have to feel sorry for them. That's just incredible. Ahhhhhh, no I don't really. Quote Link to comment
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