While both Rick Pitino and Tom Jurich currently find themselves on the outside looking in at Louisville, the rumors and reports continue to swirl within the state of Kentucky. This time around, Andrew Wolfson of the Louisville Courier-Journal is reporting that Pitino encountered a whopping “98 percent” of the cash that stems from the school’s current deal with the athletic apparel company, Adidas.
“When University of Louisville athletic director Tom Jurich announced a new $160 million, 10-year deal with athletic apparel giant Adidas on Aug. 25, a reporter asked him if some of the proceeds would be shared with the university,” writes Wolfson.
While Jurich initially projected some good intentions onto the media, it appears as though the majority of such a haul ultimately landed right in Pitino’s pocket.
“It’s for the athletic department,” Jurich replied at the time. “It’s for these student-athletes. It’s been earmarked for them.”
However, this was certainly not the case in the end. Not only that, but the now former Cardinals head coach took home nearly the full amount from Adidas.
“In fact, under the current deal with Adidas, which expires July 1, 98 percent of the cash provided by Adidas goes to one person: Rick Pitino, the now-suspended head coach,” continues Wolfson.
“In 2015-16, for example, $1.5 million went to Pitino under his personal services agreement with the apparel company while just $25,000 went to the program, according to a contract obtained by the Courier-Journal under the state public records act.
“The year before, Pitino also got $1.5 million, while the department banked just $10,000.”