A $4 million resolution of the buyout dispute between West Virginia University and Rich Rodriguez, the new head coach of the U-M football team, was announced July 9 by Athletic Director Bill Martin.
“We are tremendously pleased to have been able to hire Rich Rodriguez as head coach of the University of Michigan football team,” Martin said. “With his enthusiasm, integrity, and creative strategies he has already begun to make his mark on the program, and we are looking forward with great excitement to the coming season.
“To help Rich focus on the challenges ahead, we have worked with him to resolve the dispute between him and West Virginia University over the terms of his buyout. Although he continues to disagree with the validity of the terms, Rich and the rest of us at Michigan felt that it would be best to get this distracting issue behind us.”
Rodriguez will pay $1.5 million in three annual payments of $500,000 beginning in January 2010. Athletics will contribute $2.5 million in a single payment made by the end of July 2008.
Athletics has agreed to pay Rodriguez’ attorney fees from its reserve funds, which are annual operational surpluses from such sources as sponsorships, licenses and media rights payments, Martin said.
