UofL Reaches Settlement With Tom Jurich
UofL has reached a settlement agreement with former Athletic Director Tom Jurich after a dispute over his firing last fall. It is interesting to note that the settlement refers to “Mr. Jurich’s retirement from the University in October 2017.” So, both parties are now calling this a retirement rather than a termination.
In the settlement, Jurich will receive a $4.5 million “settlement sum” and the ending of his career at UofL is now referred to as a “without cause” resignation instead of “with cause” termination as it had been previously.
The letter of termination former Interim President Greg Postel had issued to Jurich has now been stricken from the record. As many of us remember, that letter chastised Jurich and his governing of the athletic department.
In addition to the $4.5 million settlement sum, Jurich will also receive $911,000 in deferred compensation, and a total of $1.76 million in annuity payments to be paid annually from 2018 through 2025 at a rate of $220,000.
Jurich will also receive medical coverage for he and his wife through UofL until they become Medicaid eligible, other unspecified benefits available to eligible retired employees of UofL and their spouses on the same terms as other UofL retirees, and 8 club level tickets and 2 parking passes for he or other family members to UofL football and men’s basketball games for the next 20 years.
So, Jurich is now effectively a retired UofL employee subject to all retirement benefits afforded to an eligible retired employee and he’s also being fairly compensated with a little over $7 million.
UofL now avoids a likely costly legal fight and ends things on somewhat amicable terms with their former AD who still is very popular among the fan base.
Everyone appears to win in this settlement.
Posted on May 18, 2018, in Louisville Athletics and tagged Tom Jurich, University of Louisville, University of Louisville Athletics, university of Louisville Cardinals, University of Louisville football, University of Louisville Men's Basketball, uofl, uofl athletics, UofL Basketball, uofl football, UofL Men's Basketball, uofl sports. Bookmark the permalink. Leave a comment.