N.C. State Probes LSU Over $4 Million Will Wade Buyout as It Weighs State-Law Claims
Updated
Updated · Fox News · Jun 10
N.C. State Probes LSU Over $4 Million Will Wade Buyout as It Weighs State-Law Claims
3 articles · Updated · Fox News · Jun 10
Summary
N.C. State says it is investigating potential legal claims against LSU over Will Wade’s March departure, arguing the $4 million buyout payment settled only Wade’s personal obligations.
A letter from vice chancellor Allison Newhart says the school is examining whether LSU induced Wade to breach his contract and delayed notice so liquidated damages fell before LSU hired him on March 26.
Wade’s contract called for a $5 million buyout that dropped to $3 million after April 1; N.C. State says it accepted $4 million to avoid delaying its coaching search.
The letter also cites North Carolina’s Unfair and Deceptive Trade Practices Act, which can allow financial damages and attorney fees, while LSU declined comment and N.C. State offered none beyond the letter.