UofL And Pitino Reach Settlement

The following news is just in…

As you can see from the statement, the lawsuits between the University of Louisville and former men’s basketball coach Rick Pitino were mutually dismissed by both parties. Pitino will have the benefit of having his firing changed to a resignation instead.

There will be no money going to Pitino as part of the settlement per Jody Demling. In other words, the possible burden of a $40 million financial yoke upon the University of Louisville is no more.

Rick Pitino has also released a statement in regards to the settlement.

There are two noteworthy points in his statement. The first is that he agreed to the settlement despite his lawyer’s objections. The second is that he acknowledges that even though he wasn’t an active participant in the illegal recruiting, the responsibility still falls upon him as the head coach.

In the end, this is is a great victory and great day for UofL AD Vince Tyra and for the university.

You can watch Vince Tyra answering questions from the media about the settlement below.

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