THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Wednesday, April 12, 1995 TAG: 9504120587
SECTION: SPORTS PAGE: C3 EDITION: FINAL
SOURCE: BY STEVE CARLSON, STAFF WRITER
LENGTH: Short : 44 lines
When Oliver Purnell left Old Dominion for Dayton, he left with a $388,000 debt due to a buyout clause in his contract.
The Monarchs have settled for much less, but how much less no one is saying.
``We have made a settlement from the University of Dayton for one lump sum of money rather than draw it out over four years,'' ODU president James Koch said. ``It's quite satisfactory.''
Koch won't say why ODU settled for less than $388,000, citing a stipulation of the settlement agreement that it not be discussed publicly.
According to sources, Dayton officials told ODU the buyout clause on the four years remaining on Purnell's contract was not enforceable. ODU threatened to take the matter to court, and the two sides reached a compromise figure based on less than four years of Purnell's $97,000 annual salary.
``We looked at case law and prospective legal costs and came to a compromise,'' Koch acknowledged. ``It was one that was satisfactory to both sides.''
Dayton president Brother Raymond Fitz and athletic director Ted Kissell did not return phone messages. Purnell, who termed the $388,000 buyout ``shared responsibility'' between himself and Dayton at the time he was hired, also declined to give details.
``I'm very pleased it's been resolved to the satisfaction of everyone,'' Purnell said. ``I really didn't deal with it at all, and I really can't comment on it. I'm pleased the whole thing has been resolved.''
Koch said the money from the settlement goes into the university's general fund.
``It belongs to the Commonwealth of Virginia,'' Koch said. ``It could be used for library books or anything like that. It could support the salary of a basketball coach or a field hockey coach.''
KEYWORDS: SETTLEMENT by CNB