TSTAN is a deadbeat

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.
 
Yukonwreck said:
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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In Todd’s defense - he gets 7 and 8 figure donations.
 
18in32 said:
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GTAA is happy to write off legal expenses on all those taxes they pay.

Do you have any take on whether this is some honest contractual dispute or if Stansbury is financially hard-up for some reason?
 
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.
 
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oldgold68 said:
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.
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With the loan we gave him and the salary increase, he should have been able to pay most of the obligation up front.
 
684Bee said:
exactly. This needs to get resolved ASAP.
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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.
 
pianoman said:
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.
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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.
 
GT flunkout said:
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.
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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.
 
pianoman said:
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.
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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.
 
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.”
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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.
 
gtg970g said:
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.
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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?
 
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...
 
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