Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SUNDAY, April 8, 1990 TAG: 9004080155
SECTION: SPORTS PAGE: B1 EDITION: METRO
SOURCE: Associated Press
DATELINE: RALEIGH, N.C. LENGTH: Medium
Valvano's 10-year reign with the Wolfpack ended Saturday when the school agreed to buy out his contract for more than $238,000.
The settlement ended six weeks of fighting by Valvano to keep his job in the wake of reports that former players had accepted cash from boosters while at N.C. State and allegations of point-shaving. Valvano was never implicated in the allegations.
"My dream came true at N.C. State," Valvano said at a news conference after his termination was announced by the school.
"I tend to look to the future for the many dreams I have for myself and my family, both personally and professionally."
Valvano, who led the Wolfpack to the 1983 national championship, said the past 18 months have been hard on him and his family.
"The last year-and-a-half has been difficult," he said. "If this were an election, I'm doing great in the popular poll, but the electoral college beat the hell out of me. The last 10 years of my life have been really remarkable ones."
He said he once told his father, "Pop, one day I'm going to cut the nets down at the national championship, and I did that in 1983."
Valvano joked that his immediate plan was to "correct a terrible problem I have - a terrible slice" - in his golf swing. "I plan to begin working on that Monday," he said.
Larry K. Monteith, the university's interim chancellor, said Valvano will receive his regular salary payments - totaling $26,509.24 - through May 15, the end of the academic year. Then Valvano will get the $212,000 lump payment for a total of $238,509.24. Valvano also has a private agreement with the Wolfpack Club booster organization for a payment if he is fired, but that amount wasn't disclosed.
Monteith said the settlement was a mutual agreement between the school and coach.
"We wish him well in his future endeavors," Monteith said. "We believe firmly that this settlement is in the best interest of our students, faculty, alumni and everyone associated with N.C. State University."
Asked why he didn't stay and fight for the job instead of taking a settlement, Valvano said, "Because I do care so much for the university."
Valvano's contract called for a $500,000 payment if he were fired without cause. That buyout clause was negated by the agreement for $212,000.
Valvano, 44, had a 209-114 record with the Wolfpack and took his team to the NCAA Tournament seven times and the NIT once.
The coach had been under pressure to resign after reports that former players had accepted cash from boosters while playing for Valvano and allegations of point-shaving by former players. Valvano has never been implicated in the allegations.
Monteith said the university "will miss Jim Valvano. His spirit and enthusiasm on the basketball court provided us with many thrills and much pride during his tenure.
"The university faculty, students and administration will continue to devote their energies to the academic excellence and integrity of this institution. We will also ensure that our student-athletes have equal opportunity to be successful in their academic pursuits as well as athletic competition.
"I know we can meet the challenge and demonstrate to the public that this institution remains worthy of their support and confidence."
North Carolina State did not indicate when it would start searching for a new coach or who it would be.
by CNB