Severance package details for Richard Greenspan

  • 06/30/2008 4:35 pm in

greenspan3.jpgForgive us for being a little late to the party on this — yours truly is under the weather — but both Hoosier Nation and The Hoosier Scoop have uncovered the severance package details for everyone’s favorite athletic director, Rick Greenspan.

Despite his involvement in the Kelvin Sampson scandal, Greenspan will leave Bloomington in December with a healthy severance package. He’ll get $369,000 on or around January 15, 2009 and $4,600 monthly in the calendar year of 2009.

And if that wasn’t enough, he’ll get $1,400 monthly on top of that in the event that he’s unable to secure “substantially equivalent employment.” (Translation: He’ll be getting this money as well.)

The only other item of note beside the legal lingo that says Greenspan can’t sue IU: He can write a book about the whole fiasco. It’s hard to say what the market for the said title would be, but you can be sure Richard has considered this or it wouldn’t be in the agreement.

Here’s a link to the five-page agreement.

Filed to:

  • HoosierSmitty

    Guys,

    Please find us some good news out there in IU Basketball Nation…if there is any…

    More money down the drain…so sad…thanks RG, KS, NCAA, and anyone else who helped wish this maelstrom upon us.

  • ALH_00

    I'd read the book. I'm dying for an internal explanation (unfiltered, please).

  • Kelin Blab

    I agree with smitty please find us some good news…an open gym, recruits, hell tell me KS got his cell phone stolen and all of his minutes were used up…anything………

  • hoosier07

    haha love the comments. all i have to say is let all of this be in the rearview mirror, and onto MUCH bigger and better things!!!

  • i never understand why we pay these people severance.

  • cookcmc

    what's the story on this Malik Story kid? no pun intended

  • JerryCT

    I live in CT most of the year and confess I donot know who the AD is at UCONN. But when I think about it they have great basketball programs in men & women and a methodically improving football team with Notre Dame somehow on the schedule in the future.

    Seems very similar to what we need at IU……….and Bloomington is much nicer than Storrs, CT.

    I am thinking forward because feeling Kelin's pain is making me cry

  • cookcmc

    sorry, been out of country and just found the comments on the site

  • southsidehitmen

    The one positive I guess is, this has to be one of the last bad things to happen to IU right?

    Once the punishment is handed down from the NCAA, that'll be it…hopefully.

    Then all the clouds that I can think of will have passed.

  • terryiu

    why is it that all these people resign and then are given golden parachutes? doesn't the IU Law School have anyone smart enough to defend the university against law suits from these slim balls?

  • nealE

    I have the perfect title for his book: I Don't Know The Answer To That Question – Actually I Do, I'm Just Not Going To Answer It.

    The book will be 700 pages long and chronicle things like Greenspan's backdoor office escape from the press, details on how he survived in his office so long without food or water storage (SPOILER: Jimmy Johns, MacDonald's, Taco Bell), and constant reminders that he was in charge and doesn't need to tell you anything. It will also have a suggested retail price of $45.99.

  • MikeinNC

    Somebody better call Mark Cuban for another donation.

  • I believe. Yes i really do. There is a conspsiracy against my beloved IU bball program. SOMEONE at the NCAA seems to have a bias against us so large it DEMANDS investigation by the legislature or congress or someone. Time to prod our local politicians ( they live for posturing anyway).

  • I believe. Yes i really do. There is a conspsiracy against my beloved IU bball program. SOMEONE at the NCAA seems to have a bias against us so large it DEMANDS investigation by the legislature or congress or someone. Time to prod our local politicians ( they live for posturing anyway).