TSTAN is a deadbeat

DressCheeseSideSeaboard said:
He may not have an annuity or structured settlement, so that option may not be possible. If he owns a car, he could get REAL money.
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He should probably call JG Wentworth at 1-800-877-CASHNOW! Dirty Jacket you need to chill on this one. It will be handled. He stopped paying because he feels he lived up to his end. He wouldn't stop paying without advise from his attorney. And anyway that is his problem, not Tech's. He can pay it, he just thought he didn't have to for whatever reason. He made $200,000 at Oregon St. and he makes $900,000 here and he was given a loan specifically to pay off the buyout. Unless he's some kind of degenerate gambler, I think this will work out fine.
 
DressCheeseSideSeaboard said:
Ok. I saw it as a money grab in the name of security. Same reason you can’t bring food or drink past security in the airport.
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Obviously that is the reason it was done. However, that is not the reason that was given. We were told it was for security reasons and then there was some babble about what everyone else was doing and we needed to do that....since we can't have a deadly bottle of water or bag of chips endanger everyone.

I would have had more respect for him had he just said "we need the money. we need you to buy food and drinks from the concession stand, so no more outside food and drink" - instead of the lie about security.

As for the airport, poor Clark Howard. He used to go to that Birmingham airport and stop to get his food for the plane at the nearby Hardee's on the way
 
JJacket said:
Obviously that is the reason it was done. However, that is not the reason that was given. We were told it was for security reasons and then there was some babble about what everyone else was doing and we needed to do that....since we can't have a deadly bottle of water or bag of chips endanger everyone.

I would have had more respect for him had he just said "we need the money. we need you to buy food and drinks from the concession stand, so no more outside food and drink" - instead of the lie about security.

As for the airport, poor Clark Howard. He used to go to that Birmingham airport and stop to get his food for the plane at the nearby Hardee's on the way
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Clark Howard probably flew Southwest Airlines at the time.
 
I don't see the problem here, unless as someone said TSTAN is a gambler or otherwise frivolous. I'm sure this has a good explanation. I'm certainly interested to hear it. Perhaps he took that 1.1M and did something risky with it and lost some of it, or it is otherwise illiquid at the moment. However, he has paid off $700k of the principal, and I'm sure he could get this debt restructured if he needed to. If there is anything GT Athletics knows about, it's restructuring debt.
 
JJacket said:
Obviously that is the reason it was done. However, that is not the reason that was given. We were told it was for security reasons and then there was some babble about what everyone else was doing and we needed to do that....since we can't have a deadly bottle of water or bag of chips endanger everyone.

I would have had more respect for him had he just said "we need the money. we need you to buy food and drinks from the concession stand, so no more outside food and drink" - instead of the lie about security.
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RussianOffense said:
Withholding judgment until I hear Stansbury's side of this. Could be a legal dispute over interpretation of the contract. This is almost certainly not someone just forgetting to pay their bills.

I think both parties would've preferred this to not get to this public point, so there must be a dispute over the terms.
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I mean, he had been paying for 4 years until a few months ago. It's a really strange situation.
 
I can't figure out the math in the original article. He owed $2 million when he left in December 2016 and made payments for 2.5 years. He also got a $1.1 million loan from GT specifically to help pay down the buyout. But somehow the balance is $1.5 million being, I assume, 2.5/4 years through payments. Either payments were really low or there was an extremely high interest rate.

The complaint in Oregon state court isn't available. Stansbury could have an honest dispute with OSU over the contract. If he has money trouble, then it could be bad investments, spending, gambling, divorce, etc. Who knows.
 
Nothing we officially hear about this right now is likely to be entirely accurate information. The OSU lawyers have advised their client to sue and have contacted the media to create bad publicity for the defendant. TStan's lawyers are advising him to keep quiet and let them do their work. It might get settled without us ever knowing the details because going to court can be expensive for both sides.
 
txsting said:
I don't see the problem here, unless as someone said TSTAN is a gambler or otherwise frivolous. I'm sure this has a good explanation. I'm certainly interested to hear it. Perhaps he took that 1.1M and did something risky with it and lost some of it, or it is otherwise illiquid at the moment. However, he has paid off $700k of the principal, and I'm sure he could get this debt restructured if he needed to. If there is anything GT Athletics knows about, it's restructuring debt.
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You have to admit it might be awkward to be lobbying a BIG donor for a six-figure pledge with this kind of story circulating. We should all hope this gets settled and settled soon.
 
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