Rick Pitino has reached a settlement with the University of Louisville.
The former head coach of Louisville’s basketball team was seeking $40 million in a lawsuit against his former employer, but the two sides have agreed on a much smaller amount, to put the past behind them and move forward. Pitino will receive exactly zero of those 40 million dollars, per the new agreement. He will, however, have the records changed to say he resigned, not that he was fired for being so scandal-licious.
The statement from U of L:
“For 17 years, Coach Pitino ran a program that combined excellence on the court with a commitment to the program’s student athletes, their academic achievement, and their futures in and out of basketball. Nevertheless, there were NCAA infractions during his term which led to serious consequences for the University. Although these infractions may not have occurred at Coach Pitino’s direction or with his knowledge, the problems leading to the NCAA infractions happened under his leadership. We thank Coach Pitino for his years of service to the University of Louisville basketball program and wish him well. Coach Pitino and the University of Louisville have mutually agreed to dismiss their legal claims against each other, designate his departure as a resignation, and move forward.”
The official record will still reflect that he was 2-8 against John Calipari at Kentucky.
UPDATE: Pitino also released a statement.
“Today I move on to a new chapter in my life. Against my lawyer’s advice I’m dropping my lawsuit with ULAA. I am very proud of the many accomplishments my teams achieved at Louisville. I’m so thankful and honored to coach such dedicated athletes.
“I’m also disappointed in how it ended. But as head coach I am held responsible for the actions of all team members.
“I still have so much passion for the game and so many goals I want to achieve. From this day forward I start my climb”