MANHATTAN -- 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.
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.
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.
This is a sad day for Kansas State University. Let's hope they clean up this mess quickly.
No comments:
Post a Comment