Kansas State University will take out a bank loan to pay a $12-million settlement it reached with its fired basketball coach, Jerome Tang.

The university and Tang who was fired in February just after his team suffered a blowout loss announced the agreement on Monday. After the loss, Tang had said the team's players did "not deserve to wear this uniform" and that "there will be very few of them in it next year." The university claimed he caused embarrassment to the institution. Kansas state fired him for cause, threatening to void a nearly $19-million buyout. Tang disputed the for-cause designation.

Gene Taylor, Kansas State's athletic director, The Mercury on Monday that his department would take out a loan to cover the settlement cost. Taylor said the department didn't have cash available for the payout, and it isn't subsidized by the university. He added that he didn't want to tap donors for the money because of other requests he has been making.



https://www.chronicle.com/liveblog/heres-the-latest-news-on-campus-finance?utm_source=Iterable&utm_medium=email&utm_campaign=campaign_20246849_nl_Academe-Today_date_20261007

fubar said:

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They have to take out a loan?

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Odd. I guess that's what happens with impulse firing. I suspect we don't have a whale who'd take on something like that, either.

So, my understanding is that coaches' contracts are often structured with an offset clause so that whatever they get paid from a new job is deducted from the payout amount. E.g., if the severance package is $1.3 million/year, but the coach gets a new gig that pays $1 million/year, the package is reduced to $300k. Is that correct?

If so, Baylor is getting a bargain having Coach Tang back on the court.

So glad he's home. Excited for the next season.

Look forward to snorting some serious Tang this season!

True Grit said:

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It's why DA is still our FB coach.

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And If Baylor would release the number, I bet you'd find enough fans to pony up the $ to get him out of Waco...

Booboo Bear said:

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So, my understanding is that coaches' contracts are often structured with an offset clause so that whatever they get paid from a new job is deducted from the payout amount. E.g., if the severance package is $1.3 million/year, but the coach gets a new gig that pays $1 million/year, the package is reduced to $300k. Is that correct?

If so, Baylor is getting a bargain having Coach Tang back on the court.

So glad he's home. Excited for the next season.

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Should Baylor put an acknowledgement of this on the screen?
This MBB Season is made possible in part by a significant contribution from Kansas State University.

Booboo Bear said:

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So, my understanding is that coaches' contracts are often structured with an offset clause so that whatever they get paid from a new job is deducted from the payout amount. E.g., if the severance package is $1.3 million/year, but the coach gets a new gig that pays $1 million/year, the package is reduced to $300k. Is that correct?

If so, Baylor is getting a bargain having Coach Tang back on the court.

So glad he's home. Excited for the next season.

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If this were true why pay him more than minimum wage. He gets the same pay either way and it helps Baylor and hurts our rival?

The_Mad_Shopper said:

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Look forward to snorting some serious Tang this season!

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Good to see you. Where've you been?

Mostly spending time where I'm not welcome. I also had stint in prison, but I made the most of it selling cigarettes to the guards. The warden adored me! His wife, less so.

TWD 1974 said:

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Booboo Bear said:

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So, my understanding is that coaches' contracts are often structured with an offset clause so that whatever they get paid from a new job is deducted from the payout amount. E.g., if the severance package is $1.3 million/year, but the coach gets a new gig that pays $1 million/year, the package is reduced to $300k. Is that correct?

If so, Baylor is getting a bargain having Coach Tang back on the court.

So glad he's home. Excited for the next season.

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Should Baylor put an acknowledgement of this on the screen?
This MBB Season is made possible in part by a significant contribution from Kansas State University.

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Only during the kstate game when we are up 20+

The_Mad_Shopper said:

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Mostly spending time where I'm not welcome. I also had stint in prison, but I made the most of it selling cigarettes to the guards. The warden adored me! His wife, less so.

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you should try doing taxes for the guards and polishing rocks you find in the prison yard. Those things help the time go by easier

LIB,MR BEARS said:

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The_Mad_Shopper said:

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Mostly spending time where I'm not welcome. I also had stint in prison, but I made the most of it selling cigarettes to the guards. The warden adored me! His wife, less so.

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you should try doing taxes for the guards and polishing rocks you find in the prison yard. Those things help the time go by easier

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Or counting flowers on the wall.............

canoso said:

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LIB,MR BEARS said:

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The_Mad_Shopper said:

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Mostly spending time where I'm not welcome. I also had stint in prison, but I made the most of it selling cigarettes to the guards. The warden adored me! His wife, less so.

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you should try doing taxes for the guards and polishing rocks you find in the prison yard. Those things help the time go by easier

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Or counting flowers on the wall.............

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The flowers are covered with a poster of Raquel Welch. Before that it was Marilyn Monroe and before that Rita Hayworth.

I like to call Raquel, Fuzzy Britches.

BluesBear said:

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True Grit said:

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It's why DA is still our FB coach.

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And If Baylor would release the number, I bet you'd find enough fans to pony up the $ to get him out of Waco...

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It's common knowledge it's his yearly salary times number of years left on contract.