Settling up: Prince goes away for $1.65 million

6 May

When then-head football coach Ron Prince lost his job in 2008, he asked Kansas State for the $3.2 million he was owed in accordance with a Memorandum of Understanding he signed with former athletics director Bob Krause. Kansas State filed suit arguing that the MOU was invalid and unenforceable. Now, three years later, the university is having to pay up, albeit less than the agreement stipulated.

In order to resolve the issue without Kansas State or Prince having to admit liability, the university is paying Prince $1.65 million, which will come out of the school’s Big 12 and NCAA revenue, including Kansas State’s share of the withdrawal fees from Nebraska and Colorado. The payment to Prince will definitely not come from individual donations or ticket sales, athletics director John Currie specified in the university’s press release.

K-State Athletics incurred $395,000 in legal fees throughout this process.

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