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Billy Gillispie testifies in trial of former Georgia football coach

Billy Gillispie

Former Georgia football coach Jim Donnan is currently on trial in federal court on fraud charges related to an alleged Ponzi scheme in which investors lost almost $23 million. One of those investors? None other than former Kentucky coach Billy Gillispie. Yesterday, Gillispie testified about his investment in GLC, the failed company, along with Tommy Tuberville, Mark Gottfried, and Dennis Franchione.

Gillispie said that in 2009, the year he was fired from UK, he was looking for business opportunities, and was referred to Donnan by a friend. After speaking with him and being assured he wouldn’t lose any principal, Gillispie felt that investing in GLC was a “safe investment.” However, it wasn’t, and Gillispie lost about $1.7 million in the deal. With some help from Dennis Franchione, his total losses stand at $700,000.

The most Billy Gillispie moment of the day? His answer to what his current occupation is:

When Gillispie, who was fired from Texas Tech in 2012, took the stand and was asked for his vocation, he answered with a smile, “I’m not currently doing anything right now.”

Oh, Billy.

Article written by Mrs. Tyler Thompson

No, I will not make you a sandwich, but you can follow me on Twitter @MrsTylerKSR or email me.

26 Comments for Billy Gillispie testifies in trial of former Georgia football coach

  1. Tomas
    10:37 am May 13, 2014 Permalink

    I know it is easy and fun to make fun of Gillispie, but at this point I am really starting to feel sorry for him. It is clear he was and is a nutjob, but it is also clear that he has a problem. I hope he gets his life turned around before something tragic happens. Would any of us really be shocked if tomorrow there was a headline that said “Gillispie Found Dead In a Ditch”? I hope his story doesn’t end like that.

  2. John Ellis
    10:38 am May 13, 2014 Permalink

    The W. Bush of Kentucky coaches. At least UK got rid of him quickly.

    • RUPPS_rhetoric
      10:50 am May 13, 2014 Permalink

      Yeah, that’s an absolutely terrible analogy. Nice try though!

    • RUPPS_rhetoric
      10:53 am May 13, 2014 Permalink

      After 5 years with this yahoo in office we have right now, and people are still banging on W.

    • AlanInDC
      11:00 am May 13, 2014 Permalink

      Political reference on KSR? Let me get my popcorn ready…

    • RUPPS_rhetoric
      11:03 am May 13, 2014 Permalink

      Ha! I had to! Couldn’t let that one go!

    • Deb Downer
      11:06 am May 13, 2014 Permalink

      So lame

  3. UKFan4LIFE
    10:48 am May 13, 2014 Permalink

    Why do we hate on Billy so much? He wasn’t a terrible coach… There were a lot of things that didn’t go right at UK. He had some bad habits and he should’ve been fired, but can’t he get a break? We wanted him and we rejoiced when he came here and now we hate him? Makes no sence to me… Same thing I’ve seen and heard people do to Joker who is one of our own! Billy wasn’t a good fit… Let’s let it go! Let’s hope that he becomes a better man and will coach and do well somewhere.

    Think about this:
    1. DeAndre Jordan comes to UK
    2. Jai Lucas comes to UK
    3. Alex Legion stays
    4. Jasper stays (Billy lets him heal)
    5. Billy isn’t an alcoholic and wasn’t so mean and was more fair to his players. This was essentially the problem with him.
    6. Jodie has his big year
    7. Patterson does his thing…

    If these 7 things were a reality I think Billy could possibly be here today… I’m not happy that he failed just because it did suck and was embarrassing for UK, the players, and all of our fans. However, we were blessed with Coach Cal and he’s done an awesome job that I don’t think the next guy can live up to.

    • memphis
      10:57 am May 13, 2014 Permalink

      If, if if. Sounds like your reality and Billy’s reality are a bit too similar.

    • Roofus Howls
      11:01 am May 13, 2014 Permalink

      Those are some huge IFS for a 2-year career.

      More BCG IFS

      1) No losses to San Diego, Gardner Webb, or VMI (wasn’t it VMI?)
      2) Willingness to play some other type of defense on occasion
      3) Not picking the lowest hanging fruit possible on the recruiting trail
      4) Making adjustments during games

    • Also
      11:12 am May 13, 2014 Permalink

      Also, not treating Josh Harrellson, DeAndre Liggins etc. like piece of shit.

    • Han Solo
      11:34 am May 13, 2014 Permalink

      Ukfan4life please tell me you’re trying to be funny

    • Kermit
      11:40 am May 13, 2014 Permalink

      …and if a frog had wings, his ass wouldn’t be cold and wet

    • Axe Cop
      11:59 am May 13, 2014 Permalink

      tl;dr version:

      BG wouldn’t have sucked if he didn’t suck!

    • Dee W.
      12:13 am May 14, 2014 Permalink

      “We wanted him and we rejoiced when he came here and now we hate him?”

      We did? I don’t recall that – don’t remember us jumping up and down hoping he would be the next coach or even expecting he would be on the radar. In fact, I had never even heard of him nor recognized him until the day he was announced and I suspect that is the same for many.

  4. BTW
    10:54 am May 13, 2014 Permalink

    Can’t wait for the American Greed episode on this.

  5. memphis
    10:59 am May 13, 2014 Permalink

    Wasn’t Jim Donnan considered the front-runner for the UK job before they gave it to Guy Morriss? I vaguely remember him being one of Larry Ivy’s finalists.

  6. bosshogg24
    11:02 am May 13, 2014 Permalink

    John Ellis, Gillispie is the Obama of Kentucky coaches and we haven’t been able to get rid of him!

  7. UKFan4LIFE
    11:12 am May 13, 2014 Permalink

    Yes big ifs but I’m just saying… I think this 2014-2015 is gonna be a great year for UK sports… Football should be entertaining and we may even upset someone and basketball is gonna be like watching an NBA team playing against LCA

  8. tltaworl
    11:15 am May 13, 2014 Permalink

    If Mitch didn’t hire Billy and hired Cal, we would have won the title with Derrick Rose in 2008 only to have it vacated. Cal would have never lived that down. Be thankful for your sufferings as the provide character.

    • Sandy Bell
      11:18 am May 13, 2014 Permalink

      Nope. I would have caught that.

    • UKfan
      1:56 pm May 13, 2014 Permalink

      “Sandy Bell”. Hard to catch something that the NCAA already ok’ed. Nice try though. A vacated final four at UK would have tarnished Coach Cal with the BBN.

      Ironic: Derrick Rose – cheating on test = vacated Final Four
      UNC – systemic cheating on classes = ?

      Marcus Camby – taking money from an agent while a student athlete = vacated Final Four
      Corey Magatte – taking money from an agent while a student athlete = no ruling by the NCAA

  9. Facts are important
    11:25 am May 13, 2014 Permalink

    Sort of sick of seeing blatant inaccuracies on KSR — love the site otherwise. “Danny” Franchione, I assume, is former Alabama/Texas A&M football coach DENNIS Franchione. I’m not so hard on you guys when you can’t get verb tenses/adverbs right, but at least try to get people’s names right. GO CATS.

  10. UKfan
    2:00 pm May 13, 2014 Permalink

    Really sick of hearing abour Billy G. It makes us seem like we enjoy hanging on to baggage and really pathetic. Billy G is the past; let’s leave it at that.

    • youdontsay
      2:30 pm May 13, 2014 Permalink

      I enjoy talking about past coaches and our legacy, regardless of who they are. I am intrigued when I hear stories about Eddie Sutton just as much as hearing stories of Adolph Rupp.

      It’s the summer, it gives us something to talk about. Unless you want to discuss the 4-win football team?

  11. UKBlue1!
    4:14 pm May 13, 2014 Permalink

    BCG and Joker are two reasons why Brainfart should be the AD at UK.