West Virginia, Beilein agree on contract buyout Print
Written by Admin   
Thursday, 26 April 2007 13:50
NCAAB Headline News


 CHARLESTON, W.Va. (AP) -Former West Virginia basketball coach John Beilein will pay the university $1.5 million - $1 million less than called for in his contract - for taking the job at Michigan with five years remaining on his deal.
Beilein's contract, which ran through the 2011-12 season, called for a $2.5 million buyout for the early departure.
``After very productive discussions with Bob Fitzsimmons, Coach Beilein's attorney, we are pleased to have finalized the details related to Coach Beilein's departure from the university,'' Tom Dorer, West Virginia's general counsel, said Thursday. ``Obviously from the fact we reached agreement, both parties wanted to move on and amicably resolve any remaining issues.''
Under the agreement, Beilein will pay installments of $300,000 over the next five years to the West Virginia University Foundation. The first installment is due in April 2008 and the final one in April 2012, the school said.
Beilein was introduced as Michigan's coach on April 4, six days after leading West Virginia to the National Invitation Tournament championship, replacing Tommy Amaker, who was fired after six seasons. West Virginia hired alumnus Bob Huggins from Kansas State shortly after Beilein left.
Beilein resigned with five years left on his contract, which calls for him to pay a $500,000 penalty for each remaining year. The contract didn't specify a time frame for paying the buyout.
Both Beilein and Michigan athletic director Bill Martin have said the buyout issue was Beilein's responsibility, not Michigan's.
In 2005, after taking the Mountaineers to the NCAA regional finals, Beilein received a contract extension to throw off a possible courtship from Virginia. A year ago he was courted heavily by North Carolina State but negotiations broke down over the buyout clause.
e history of Mountaineer basketball.''
Fitzsimmons has an unlisted home telephone number. A call to his office went unanswered Thursday night.
 

NCAABB Team Pages

Top NCAABB Public Bets

View All: NFL |  NBA |  NCAAF |  NCAAB |  MLB |  NHL

NCAABB Futures

NCAA BASKETBALL TEAM MENS TOURNAMENT ODDS CURRENT
KENTUCKY 4/1
ARIZONA 8/1
DUKE 10/1
WISCONSIN 12/1
KANSAS 14/1
FLORIDA 14/1
NORTH CAROLINA 16/1
VILLANOVA 25/1
LOUISVILLE 28/1
WICHITA STATE 28/1
View All

Privacy Policy | Terms of Service | Contact Us | Advertising | 888-99-SPREAD

THIS IS NOT A GAMBLING SITE – If you think you have a gambling problem click here.

Disclaimer: This site is for informational and entertainment purposes only. Individual users are responsible for the laws regarding accessing gambling information from their jurisdictions. Many countries around the world prohibit gambling, please check the laws in your location. Any use of this information that may violate any federal, state, local or international law is strictly prohibited.

Copyright: The information contained on TheSpread.com website is protected by international copyright and may not be reproduced, or redistributed in any way without expressed written consent.

About: TheSpread.com is the largest sports betting news site in the United States. We provide point spread news, odds, statistics and information to over 199 countries around the world each year. Our coverage includes all North American College and Professional Sports as well as entertainment, political and proposition wagering news.

©1999-2013 TheSpread.com