JFC

[steve dave]

BAMBOOZLED!

[ksu_FAN]

I'd also love to know how the auditors "missed"  this contract but then the new AD found it.  the accruals for money owed would all have been booked on the university's ledger...

And I would've gotten away with it if it wasn't for that pesky Tibs.

[steve dave]

Urick, the former athletic director, called the situation "horrible."

"But I'm not surprised," he said. "There's been a recent pattern of recklessness, selfishness and a disregard for the university."

[catzacker]

Urick, the former athletic director, called the situation "horrible."

"But I'm not surprised," he said. "There's been a recent pattern of recklessness, selfishness and a disregard for the university."

Max Urick commenting on anything related to running an athletic department is like Ken Lay commenting on ethics. 

[Kat Kid]

Urick, the former athletic director, called the situation "horrible."

"But I'm not surprised," he said. "There's been a recent pattern of recklessness, selfishness and a disregard for the university."

Max Urick commenting on anything related to running an athletic department is like Ken Lay commenting on ethics. 

You mean like starting construction on a new baseball stadium without adequate funding Max?  Like that kind of rekless selfish disregard for the university?

We've been a joke for a long time.

[michigancat]

*yawn*

those stupid f*ckers are all gone now.

and barry will send this country into such a tailspin that by the time we have to pay IPP (yeah you know me) $3.2 million will get you a twinkie and a tank of unleaded.

[Leyton]

Look at the bright side - Wefald's legacy will now be far more reflective of reality.

[kstaxman]

Not Booked, Not Accrued; Therefore "SECRET"

Your Friendly local CPA

[BeaumontCat1%]

I guess this is a question for Dax, but some of the legal-types may know.  How is the IAC funded and what assets does it have?

The MOU is signed only by Krause, and only on behalf of IAC.  Does the IAC have funds to pay the MOU outside of KSU's backing?  If the current lawsuit doesn't pan out, could IAC be put into bankruptcy and void the liability on the MOU?