TSTAN is a deadbeat

AugustaJacket

Helluva Engineer
Joined
Sep 3, 2002
Messages
2,472
And, ala Collins, he wears the same plaid gameday every gameday (at least the ones I've seen him at). Could at least step up to a Hewitt-like Cashmere.
 

Dirty Jacket

Never Weaken
Joined
Aug 15, 2014
Messages
8,998
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.
In Todd’s defense - he gets 7 and 8 figure donations.
 

oldgold68

Bitter old man
Joined
Nov 29, 2018
Messages
598
Almost sounds like an amortization of a mortgage loan. They are horribly front-loaded with interest. Interest rates were very high (10+%) when I financed my house and I had a screwy FHA mortgage. After 5 years of payments, I owed more than the purchase price of the house. Conventional mortgage loans are not that bad, but most of the early payments still go toward interest rather than principal.
 
Last edited:

BrentwoodJacket

Dodd-Like
Joined
Dec 24, 2007
Messages
9,755
Almost sounds like an amortization of a mortgage loan. They are horribly front-loaded with interest. Interest rates were very high (10+%) when I financed my house and I had s screwy FHA mortgage. After 5 years of payments, I owed more than the purchase price of the house. Conventional mortgage loans are not that bad, but most of the early payments still go toward interest rather than principal.
With the loan we gave him and the salary increase, he should have been able to pay most of the obligation up front.
 

684Bee

Varsity Lurker
Joined
Jul 25, 2015
Messages
226
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.
exactly. This needs to get resolved ASAP.
 

pianoman

Varsity Lurker
Joined
Jan 2, 2018
Messages
343
exactly. This needs to get resolved ASAP.
Agreed...I’ve been a decent donor on the engineering academic side, enough to have dinner at the president’s house and to meet TStan with Peterson in a dean’s box - I would never worry about where that engineering school money was going or how it was being handled. With the AA I see deals and situations that make me wonder. Not making accusations or jumping to conclusions and I suppose a lot of this is just unfortunately the nature of professionalized college sports.
 

GT flunkout

held in very high esteem
Staff member
Joined
Jul 24, 2002
Messages
10,671
Agreed...I’ve been a decent donor on the engineering academic side, enough to have dinner at the president’s house and to meet TStan with Peterson in a dean’s box - I would never worry about where that engineering school money was going or how it was being handled. With the AA I see deals and situations that make me wonder. Not making accusations or jumping to conclusions and I suppose a lot of this is just unfortunately the nature of professionalized college sports.
Engineering school deals and situations don't make the paper. The academic side is more than flush with cash. Don't make this an excuse not to donate to the AA, because they are not.
 

pianoman

Varsity Lurker
Joined
Jan 2, 2018
Messages
343
Engineering school deals and situations don't make the paper. The academic side is more than flush with cash. Don't make this an excuse not to donate to the AA, because they are not.
I donate to the AA but all donations anywhere are based on my sense of stewardship. I have solid inside info and don’t know of anything on the academic side that reminds me (for example) of some of our coaching deals - which like I said are apparently just the nature of the beast in this pro/college sports era.
 

cyptomcat

Hibernating
Joined
Nov 19, 2007
Messages
68,891
I donate to the AA but all donations anywhere are based on my sense of stewardship. I have solid inside info and don’t know of anything on the academic side that reminds me (for example) of some of our coaching deals - which like I said are apparently just the nature of the beast in this pro/college sports era.
Where have you been?

Bunch of admin people (possibly including Peterson) had to leave because of them profiting from vendor contracts and lack of the accountability ethics of the admin when it was discovered.
 

cyptomcat

Hibernating
Joined
Nov 19, 2007
Messages
68,891
Stansbury paid it back:
https://www.ajc.com/sports/college/...s-back-buyout/EU8xXdcGLr2TvCAgrHMNiP/amp.html

Though with Tech's help:

Stansbury was making $937,500 this fiscal year after starting out at $900,000 on his original contract signed in Nov. 2016. However, on Jan. 29, he signed a new contract paying him $650,000 per year ($500,000 by the institute and $150,000 by the athletic association). The same day, he also signed to receive a loan from the Tech athletic association in the amount of $1,558,191.98, money contractually designated to “pay his outstanding debut to Oregon State University in full.”
 

gtg970g

Dodd-Like
Joined
Oct 10, 2013
Messages
2,742
My interpretation of this is that the "extra" buyout is coming directly from TS's future paychecks. Don't attorneys carry some form of malpractice or A&O insurance which could cover a screw-up of this magnitude; or maybe all insurers refuse to insure transactions involving the GTAA given our proven incompetence in this arena.
 

coit

Y’all got any more of that D Fence?
Joined
Nov 29, 2007
Messages
87,954
My interpretation of this is that the "extra" buyout is coming directly from TS's future paychecks. Don't attorneys carry some form of malpractice or A&O insurance which could cover a screw-up of this magnitude; or maybe all insurers refuse to insure transactions involving the GTAA given our proven incompetence in this arena.
Where do you think there was a screw-up? TStan took a gamble that OSU wouldn’t come after him for the payment. Perhaps there was some sort of clause in the contract he thought he could exploit to wiggle out of the payment and that OSU would just let it drop. When that didn’t turn out to be the case and the lawsuit was filed or whatever, GT at that point said TStan needed to handle it pronto.

So, they worked a deal where GT would loan him the funds to wrap it up now, and take the loan payments out of his future paychecks.

Seems pretty straightforward to me?
 

MeatWrench

Holder of all Moon records
Joined
Dec 30, 2008
Messages
6,912
I built a pretty nice toolset through a former employer that way. They’d spot me $500 and then I’d pay it back (without interest, mind you) over a series of paychecks.

That plus the snap-on truck is like a crack dealer on payday. Always coming around when everybody gets paid...
 
Top