The University of Louisville has reached a $4.5 million settlement with former athletic director Tom Jurich, who was fired last year after two decades in the position.
Under the terms of the agreement, the university will pay Jurich within 10 days. The university also acknowledged that Jurich was entitled to benefits it promised him before his firing, agreeing to pay him an additional $2.6 million in deferred compensation and annuity payments.
Other benefits include medical coverage for him and his spouse until they qualify for Medicare, retired U of L employee benefits, and seat licenses for eight club level tickets with two priority parking passes to Louisville football and basketball games for 20 years.
Jurich was terminated in October after the FBI announced an investigation into men’s college basketball recruiting that included U of L.
That came following NCAA sanctions against the school for a prostitution scandal involving the men’s team. In October, Jurich’s lawyers said he would sue unless a fair settlement was made.
The new Athletic Director Vince Tyra said Friday’s settlement is a chance for the university to move on.
“I just think there’s a series of things that had to happen, right?” he said. “And I think this is one of them that is another distraction out there that we’re able to remove. So I think as we get into thinking about, you know, the positives, the more the other issues that go by the wayside is beneficial to us.”
Tyra added that this is a chance for the university to bring more fundraising to athletics.
“I think we’re doing a lot of good things that have benefited us and our fundraising,” he said. “We’ve had good response from our fans and our donors most recently. And I think hiring Chris Mack and all the other positives are going on, certainly President Neeli getting here, those things are important to the fans as much as what’s occurred today.”
Cardinals’ men’s basketball coach Rick Pitino was also fired in October, and has filed suit seeking some $35 million in salary.