Sources tell me that Kansas State will announce today that former athletic director Bob Krause will no longer be working at the university, banished from his post as overseer of the Olathe Innovation campus. Why? Seems that $1.2 million buyout he gave to Ron Prince was actually a little – no, A LOT – low, and it was apparently done without Jon Wefald’s knowledge.
I’ve also been told the university is going to try to legally fight the deal.
I submitted open records requests for settlements, additional contracts and anything signed between Krause and Prince yesterday; K-State has three days to respond, essentially saying they received the requests, and I hadn’t heard back as of this morning. I tried calling Krause all day Monday, but he didn’t answer. Prince’s agent, Neil Cornrich, did not return calls or an e-mail seeking confirmation and clarification.
I don’t want to deal in absolutes here because, well, I can’t control what K-State is going to do. It’s possible the administration could choose to delay such a release. But when the buyout number is released – and my sources tell me it will be today – it should be staggering to most.
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Jon Wefald, Bob Krause and their merry band of retards are the worst thing that has ever happened to Kansas State University. What has happened to our school’s athletic programs completely destoryed any positive legacy that old bastard had. If I had and old, shriveled, little leprechaun pinata that had dementia I would burn it in effigy.
Excuse the spelling and grammatical errors. I was typing with my fists.
Is is possible that Jon Wefald and Bob Krause conspired to destroy the KSU athletic department? I mean, if they had would the results be any different ?
Hey Wefald, legacy OFF!
Here is the interesting question on the buyout contract: Does it state anywhere what happens to the buyoutif Prince gets another job? I seem to remember Chuck Long couldn’t coach in 2009 and not lose his buyout.
Anyways, Bob Krause should be tarred and feathered
Maybe Jack Vanier will write a big check to make up for exposing us all to his idiot son-in-law?
Picture Thanksgiving at that freaking house this year.
I would be willing to bet gobs of money that, if he ever sits down to an interview to discuss WTF happened, Wefald brings up Goldwater scholarship numbers.
Why are you calling our Wefald here? Yes he made many mistakes, but unless I have a reading comprehension problem, this isn’t one of them. Isn’t the point of the entry that Krause is getting canned because he gave the big buyout without Wefald’s permission?
what a crock! For someone to say that Jon Wefald is the worst thing to happen as KSU, is asinine! Wefald is the BEST thing to ever come to the state of Kansas, let along just at KSU. From a article in today’s Hutchinson News, there is proof that KU is involved in much bigger financial ‘payoffs’ than KSU ever dreamed.
Here is the press release:
1) K-State Files Suit Asking Court To Declare Secret Agreement Invalid
———————————————–
1) Source: Jon Wefald
Note to editors: Because this is a legal matter, there will be no further comment from K-State
News released by media relations: Cheryl May, 785-532-6415, may@k-state.edu
K-STATE FILES SUIT ASKING COURT TO DECLARE SECRET AGREEMENT INVALID
MANHATTAN — Kansas State University and its athletic corporation is filing suit today, asking a court to declare invalid a secret agreement signed by Bob Krause, its former athletic director, and by former head football coach Ron Prince for a company called In Pursuit of Perfection, LLC. The secret agreement was signed without the knowledge of anyone else at K-State, according to K-State President Jon Wefald.
If determined to be valid, K-State’s athletic corporation would have to make $3.2 million in deferred compensation payments to In Pursuit of Perfection between 2015 and 2020.
In addition to other legal claims, K-State argues that Ron Prince’s attorney, Ohio sports agent Neil Cornrich, impermissibly negotiated this secret agreement without involving attorneys for the university. K-State contends that, under attorney ethical rules, Cornrich was required to obtain permission from K-State lawyers before negotiating directly with Krause.
Interim athletic director James Epps issued the following statement:
“On May 11, 2009, I learned of a secret deferred compensation agreement that Bob Krause apparently negotiated with Ron Prince’s attorney. This alleged deal was made without the knowledge of anyone else in the athletics department, including its attorney. This deal was apparently constructed as a further supplement to the buyout provision contained in Prince’s employment contract. I do not know why any additional supplement was justified, or why Bob Krause concealed this agreement from everyone until it was inadvertently discovered last week.
“I do not believe that this agreement is valid, and the athletics department will vigorously fight any attempt to enforce it.”
K-State President Jon Wefald said, “I learned shortly after Jim Epps about the secret deferred compensation agreement between Bob Krause and Ron Prince’s attorney. I was shocked and saddened to find out about this agreement. No one in central administration or athletics knew about this agreement. We all thought that the August 2008 press release accurately described Ron Prince’s one year contract extension and his salary increase from $750,000 to $1.1 million. We thought that any compensation he was owed was in that contract. We had no knowledge whatsoever of this secret agreement between August 2008 and May 2009, and it was therefore unavailable to the auditors, Grant Thornton, who were retained by the Board of Regents to do an exit analysis.
“After Jim Epps and I learned about the secret agreement, we spent several days explaining to Ron Prince and his agent why they should consider the agreement was null and void. That failed. We believe that this secret agreement made between Bob Krause and Ron Prince’s attorney is null and void and we will act accordingly.
“This has happened on my watch. I appointed Bob Krause to be athletic director. He has been a longtime friend. I regret deeply and apologize that this happened while I was president. But we do regard this secret agreement as null and void. Like the Interim AD Jim Epps and his staff, we have been completely caught off guard.
“I have asked for Bob Krause’s resignation as director of economic development for the K-State Olathe Innovation Campus.”
K-State discovered the secret agreement May 11, 2009, while responding to routine informational requests in a lawsuit involving one of its former assistant football coaches.
Tim Weiser was probably the “smartest” of the bunch and headed out of town before the posse was assembled. This chit didn’t happen overnight!
Cheers,
Steven Dave,
You are one hilarious bastard.
Sincerely
Secret agreement? WTF?
Wefault put Krause in charge of the faultering athletic Dept. Damn right he shares the blame.
I cannot imagine what Krause was thinking?
I’m pissed.
Bill Snyder’s job just got tougher.
How could Wefald have been ignorant of this? Do you realize how preposterous that sounds?
Gosh darn boys, (Krause and Wefald) just use common sense. Don’t ever get in a room by yourself with a lawyer and think you can out smart him on legal matters. Not to mention that while in law school they get two semesters of classes called doublespeak. So, they can say things that mean one thing and sound like another. Krause is not smart enough to get in a room by himself with a lawyer. For that matter none of us are either. I am not saying lawyers are smart because I went to undergrad with some guys that were not smart enough to know when to come in out of the rain, but went on to law school. It is just that they have been trained in deception way better than us.
Wefald fired Weiser because he wouldn’t extend Prince’s contract. Wefald hired this buffoon Krause because he would. Wefald is who Krause reports to. If he wasn’t aware of what Krause was doing he is even more at fault than if he was aware and had good intentions (senility). The old bastard has done everything in his power to destroy KSU athletics. He continues to hang his hat on the initial hiring of Bill Snyder which he wasn’t even responsible for. His bumblings with the athletic dept. have completely crushed any legacy he may have had on the academic side.