Former Marshall basketball coach Donnie Jones said he "fully intends'' to pay the entire $500,000 buyout specified in his former contract, according to a statement sent by the current Central Florida coach to the Gazette.
Former Marshall basketball coach Donnie Jones said he "fully intends'' to pay the entire $500,000 buyout specified in his former contract, according to a statement sent by the current Central Florida coach to the Gazette.
Last Thursday, the Gazette broke the story that Marshall University received only half of the agreed-upon buyout payment from the ex-Thundering Herd coach.
According to MU athletic director Mike Hamrick, a $500,000 check was owed to the university within 30 days of the coach's departure to UCF, but only $250,000 was received on the deadline, which was last Thursday.
Jones, however, sent a statement to the Gazette through Chris Capo, his agent, who is based in Atlanta.
"I am aware of my monetary obligation under the terms of my employment contract at Marshall University, and I fully intend to satisfy that requirement,'' reads the statement. "As a sign of good faith, I have already paid $250,000 of the required $500,000 buyout, and I will pay the remaining amount as soon as fiscally possible.
"I have the utmost respect for Marshall University - including the staff, the student-athletes, and the fans - and I will fulfill all of my monetary obligations in the near future.''
Capo said in an e-mail that Jones is "unable to comment any further on the matter at this time.''
On Monday, the agent reiterated the coach "plans on paying it all.''
Former Marshall basketball coach Donnie Jones said he "fully intends'' to pay the entire $500,000 buyout specified in his former contract, according to a statement sent by the current Central Florida coach to the Gazette.
Last Thursday, the Gazette broke the story that Marshall University received only half of the agreed-upon buyout payment from the ex-Thundering Herd coach.
According to MU athletic director Mike Hamrick, a $500,000 check was owed to the university within 30 days of the coach's departure to UCF, but only $250,000 was received on the deadline, which was last Thursday.
Jones, however, sent a statement to the Gazette through Chris Capo, his agent, who is based in Atlanta.
"I am aware of my monetary obligation under the terms of my employment contract at Marshall University, and I fully intend to satisfy that requirement,'' reads the statement. "As a sign of good faith, I have already paid $250,000 of the required $500,000 buyout, and I will pay the remaining amount as soon as fiscally possible.
"I have the utmost respect for Marshall University - including the staff, the student-athletes, and the fans - and I will fulfill all of my monetary obligations in the near future.''
Capo said in an e-mail that Jones is "unable to comment any further on the matter at this time.''
On Monday, the agent reiterated the coach "plans on paying it all.''
"You can imagine a single person trying to come up with that amount, though,'' he added.
The Jones-MU contract, dated Oct. 14. 2009, said that should Jones "accept a head coaching position at any other college, university or professional team, [he] agree that, upon accepting such other position, to pay Marshall University within thirty [30] days of accepting such position, in lump sum, the amount of Five Hundred Thousand Dollars [$500,000].''
When the full $500,000 was not received, MU issued a statement that said it "intends to take the appropriate action necessary to enforce the terms of the contract.''
Capo said he knows "there's been some communication'' between the Jones camp and Marshall. However, Hamrick said on Monday that communication has been limited.
"Two days before we were supposed to receive the money, we received a letter saying this is how it's going to be paid off,'' said the Marshall athletic director. "That's negotiating?
"Our lawyer has said this isn't negotiable. Marshall's stance is the same.''
Reach Mitch Vingle at 304-348-4827, mitchvin...@wvgazette.com or follow him at http://twitter.com/MitchVingle.
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