Stansbury being sued by Oregon State?

[Vespidae]

Regardless, its not a good look.

 

[awbuzz]

The School needs to help with this

Already are/did. $1.1MM loan to help pay AND the he has the loan forgiven if he stays at GT for 5 years.

 

[awbuzz]

We gave him a huge raise and loan to cover the buyout, ie, we are paying it. In other words we would have paid for it but were cash strapped so structured a salary/loan deal.

if he decided on his own to default on paying the loan then f him. He deserves to be sued. Sorry. He gets paid 900k a year to do not much and knew the terms

not gonna defend someone just cuz they work at tech

now. If he hasn’t defaulted and there is an honest reason then i hope it works well for him

+1

 

[JorgeJonas]

Exactly.

People default in the middle of a payment plan all the time. I’d be shocked if the attorneys for Oregon State didn’t issue a demand letter giving him a certain amount of time to cure any default. If he’s not in default, and his attorneys handle it right, he’ll have a decent OCGA 13-6-11 claim for fees. As an aside, I’m pretty stunned there’s not an arbitration clause in the agreement.

 

[Deleted member 2897]

People default in the middle of a payment plan all the time. I’d be shocked if the attorneys for Oregon State didn’t issue a demand letter giving him a certain amount of time to cure any default. If he’s not in default, and his attorneys handle it right, he’ll have a decent OCGA 13-6-11 claim for fees. As an aside, I’m pretty stunned there’s not an arbitration clause in the agreement.

I’m still betting he is disputing their calculations

 

[JorgeJonas]

I’m still betting he is disputing their calculations

I suppose it’s possible, but that shouldn’t be a terribly difficult matter to figure out, especially since I’d expect the attorneys retained by the school and Stansbury are competent. If so, the language of the contract should be pretty easy to parse. I obviously have no inside knowledge, but I wonder if there was some kind of affirmative obligation on the part of OSU, which they didn’t perform, and Stansbury is claiming that he’s no longer required to comply with the terms of the agreement. Who knows?

 

[augustabuzz]

osu is, obviously, located in Oregone. Bunch of nutjobs but I don’t know the details.

Anyone remember Zolke?

Yes, we were lab partners.

 

[TheSilasSonRising]

Yes, we were lab partners.

I could be wrong, but i think he argued a case before SCOTUS.

 

[Deleted member 2897]

https://www.gazettetimes.com/news/l...2ba6e4a.html#tracking-source=home-top-story-1

Not much different here...except their wording of interest was different than what I had previously read. In the AJC article, it spoke of interest accruing as it is being repaid. In the OSU article, it implies he owes them the value of the remainder of his contract plus interest...regardless of how quickly he repays it. "Stansbury agreed to pay the university his base salary plus interest for the remainder of his contract if he terminated the agreement early." Given Georgia Tech gave him $1.1m plus a bump in salary to pay off this money, I find it highly unlikely he had only paid off $650k in 3 years as Oregon State is alleging. That would mean he is just sitting on a lot of money meant to pay off OSU.

If you take the remainder of his contract $2.1m and compound 9% interest over the term, that comes to around $3.0m. I could totally see Stansbury learning their perceived remaining balance being massively different and eventually getting to the point of telling them to go pound sand. Will be interesting to see how this plays out.

 

[Techster]

It's interesting TStan is paying interest on unrealized money. So let's get this straight, TStan had remaining years left on his contract, and he has to pay the remaining years of the contract PLUS interest on it?!

GT needs to hire whoever negotiated OSU's portion of the buyout. Seriously, GT just continues to get schooled by other entity's legal team.

 

[Deleted member 2897]

It's interesting TStan is paying interest on unrealized money. So let's get this straight, TStan had remaining years left on his contract, and he has to pay the remaining years of the contract PLUS interest on it?!

GT needs to hire whoever negotiated OSU's portion of the buyout. Seriously, GT just continues to get schooled by other entity's legal team.

Yep, they basically can take the 3.5 remaining years of Stansbury's contract and pay their replacement AD for 5 years *on someone else's dime*. Its insane.

 

[Techster]

If you're keeping track, between CGC's 2.5 million buyout for Temple, and TStan's 1.1 million buyout, that's 3.6 million in dead money the past few years.

Seriously, GT fans don't realize how lucky we were that CPJ stepped down on his own volition and we didn't have to pay him off to step down.

 

[Deleted member 2897]

If you're keeping track, between CGC's 2.5 million buyout for Temple, and TStan's 1.1 million buyout, that's 3.6 million in dead money the past few years.

Seriously, GT fans don't realize how lucky we were that CPJ stepped down on his own volition and we didn't have to pay him off to step down.

And Roof before him walked away too. IIRC that saved us $1m.

 

[ibeattetris]

Is it likely we will ever get more facts? This is such an interesting story, and a lot of it is hard to believe.

 

[Vespidae]

https://www.gazettetimes.com/news/l...2ba6e4a.html#tracking-source=home-top-story-1

Not much different here...except their wording of interest was different than what I had previously read. In the AJC article, it spoke of interest accruing as it is being repaid. In the OSU article, it implies he owes them the value of the remainder of his contract plus interest...regardless of how quickly he repays it. "Stansbury agreed to pay the university his base salary plus interest for the remainder of his contract if he terminated the agreement early." Given Georgia Tech gave him $1.1m plus a bump in salary to pay off this money, I find it highly unlikely he had only paid off $650k in 3 years as Oregon State is alleging. That would mean he is just sitting on a lot of money meant to pay off OSU.

If you take the remainder of his contract $2.1m and compound 9% interest over the term, that comes to around $3.0m. I could totally see Stansbury learning their perceived remaining balance being massively different and eventually getting to the point of telling them to go pound sand. Will be interesting to see how this plays out.

There’s more. OSU bought out TStan’s contract from UCF. So, he owes the OSU salary and ... the remainder of his buyout.

 

[bobongo]

Can we please have 5 minutes of F-ing peace within the Athletic Department/ Sports of this school?? I'm personally sick of the drama....

Sick of the buyouts, too.

 

[LibertyTurns]

Sick of the buyouts, too.

We wouldn’t be sick of coaching contracts if we didn’t absolutely suck at them. We’re an Engineering school and we excel at numbers but we can’t figure out that it’s more expensive to give someone a pay raise and a buyout clause at the beginning of the year, then fire him at the end of the season.

 

[steebu]

osu is, obviously, located in Oregone. Bunch of nutjobs but I don’t know the details.

Slimy mudhole? Nutjobs? My home this is!

For context: Oregon State is the engineering school in Oregon. A friend of mine who was in the CS grad program with me at GT is now a tenure-track professor at OSU.

OSU is the GT of Oregon. Smaller, engineering-oriented, and under-funded compared to it's up-the-ways neighbor. Oregon is the popular, powerhouse program in the state. Most people here with Oregon bumper stickers, like most UGA fans, did not go to UofO. I've become an OSU fan as I can sympathize. Interestingly, I heard a report that because so many kids are realizing that they're not gonna get a job with a "History of Medieval Languages" degree they're choosing STEM-oriented degrees and enrollment at OSU beat UofO for the first time ever.

 

[whitegoldsphinx]

Slimy mudhole? Nutjobs? My home this is!

For context: Oregon State is the engineering school in Oregon. A friend of mine who was in the CS grad program with me at GT is now a tenure-track professor at OSU.

OSU is the GT of Oregon. Smaller, engineering-oriented, and under-funded compared to it's up-the-ways neighbor. Oregon is the popular, powerhouse program in the state. Most people here with Oregon bumper stickers, like most UGA fans, did not go to UofO. I've become an OSU fan as I can sympathize. Interestingly, I heard a report that because so many kids are realizing that they're not gonna get a job with a "History of Medieval Languages" degree they're choosing STEM-oriented degrees and enrollment at OSU beat UofO for the first time ever.

Be careful, you'll turn us into OSU fans.

 

[Madison Grant]

Slimy mudhole? Nutjobs? My home this is!

For context: Oregon State is the engineering school in Oregon. A friend of mine who was in the CS grad program with me at GT is now a tenure-track professor at OSU.

OSU is the GT of Oregon. Smaller, engineering-oriented, and under-funded compared to it's up-the-ways neighbor. Oregon is the popular, powerhouse program in the state. Most people here with Oregon bumper stickers, like most UGA fans, did not go to UofO. I've become an OSU fan as I can sympathize. Interestingly, I heard a report that because so many kids are realizing that they're not gonna get a job with a "History of Medieval Languages" degree they're choosing STEM-oriented degrees and enrollment at OSU beat UofO for the first time ever.

We were in Oregon this summer. Went down the Pacific coast and then across state to the Alvord desert. It is a stunningly beautiful state that I'd love to live in just for the natural beauty. Unfortunately, Portland is a dump, and apparently runs the state. A city that size should not have a highway system comparable to Macon, GA.