“It is our policy to not comment on pending litigation,” said Scott Zolke, Stansbury’s attorney.
The buyout was a central element of the contract that Tech and Stansbury crafted together. Stansbury had strong interest in taking the job, as did Tech in hiring him, but the buyout was a major obstacle for him to accept.
To help him handle the obligation, then-president G.P. "Bud" Peterson agreed on a contract that included a $1.1 million loan from the athletic association to Stansbury to help cover the buyout. The loan would be forgiven if he were to stay through his five-year deal. (He would owe the entire amount immediately, plus interest, if he were to leave early, a term that Stansbury accepted as an indication of his commitment to Tech.)
His salary also was generous, at least in part to further assist with the buyout. Stansbury’s starting salary was $900,000, an 80 percent raise from his Oregon State salary and $200,000 more than predecessor Mike Bobinski was making at the time he took the AD job at Purdue.