TSTAN is a deadbeat

Diseqc

Bro, he's Reggie Bush, dude
Joined
Apr 15, 2008
Messages
40,124

cyptomcat

PostBot
Staff member
Joined
Nov 19, 2007
Messages
61,680
the weird part:
To help him handle the obligation, then-president G.P. “Bud” Peterson agreed on a contract that included a $1.1 million loan from the athletic association to Stansbury to help cover the buyout. The loan would be forgiven if he were to stay through his five-year deal. (He would owe the entire amount immediately, plus interest, if he were to leave early, a term that Stansbury accepted as an indication of his commitment to Tech.)
https://www.ajc.com/sports/college/...eging-breach-contract/ZRCufxGwUANizYjw4Fh22L/
 

smokey_wasp

Dodd-Like
Joined
Nov 25, 2013
Messages
5,671
Weird structure for a buyout, no? Wouldnt the school just normally pay it straight up?
 

rghoae

Flats Noob
Joined
Nov 2, 2008
Messages
795
So he was paying the bills regularly for 4 out of the 5 year contract and that only reduced the money he owed from $2mm to $1.6mm?

That's weird.
 

BigDanT

Damn the Torpedoes
Joined
Jul 1, 2015
Messages
4,007
We can’t catch a break without getting ööööed at the next turn.
 

Skydog

Eat a Peach
Joined
Dec 6, 2018
Messages
573
So he was paying the bills regularly for 4 out of the 5 year contract and that only reduced the money he owed from $2mm to $1.6mm?

That's weird.
could have a ballon payment due at the end. maybe.
 

33jacket

Dodd-Like
Joined
Aug 17, 2002
Messages
3,148
Damn, that's a lot of money to owe someone
yes but thats why his salary at gt was a ridiculous raise. It was to cover what he owed in payments vs fully up front with gtaa cash.

sounds like he got greedy and stopped paying.
 

JJacket

1st to pass for 2500 and rush for 1000
Joined
May 20, 2003
Messages
50,945
yes but thats why his salary at gt was a ridiculous raise. It was to cover what he owed in payments vs fully up front with gtaa cash.

sounds like he got greedy and stopped paying.
Perhaps he was paying in Canadian dollars. I know that if you go 88 in Canada that is 55.
 

Dirty Jacket

The voice in Folty’s Head
Joined
Aug 15, 2014
Messages
7,098
It is really quite incredible how we are unable to have any form of positive momentum in our athletics department. With every step forward (great signing day) we have a black eye like this shortly after. So frustrating.
 
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