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Stansbury being sued by Oregon State?
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<blockquote data-quote="Deleted member 2897" data-source="post: 675313"><p><a href="https://www.gazettetimes.com/news/local/osu-sues-former-athletic-director/article_b360696c-b09d-57be-b27f-a99122ba6e4a.html#tracking-source=home-top-story-1" target="_blank">https://www.gazettetimes.com/news/local/osu-sues-former-athletic-director/article_b360696c-b09d-57be-b27f-a99122ba6e4a.html#tracking-source=home-top-story-1</a></p><p></p><p>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. <em>"Stansbury agreed to pay the university his base salary plus interest for the remainder of his contract if he terminated the agreement early." </em> 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.</p><p></p><p>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.</p></blockquote><p></p>
[QUOTE="Deleted member 2897, post: 675313"] [URL]https://www.gazettetimes.com/news/local/osu-sues-former-athletic-director/article_b360696c-b09d-57be-b27f-a99122ba6e4a.html#tracking-source=home-top-story-1[/URL] 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. [I]"Stansbury agreed to pay the university his base salary plus interest for the remainder of his contract if he terminated the agreement early." [/I] 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. [/QUOTE]
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