Gillespie, Kentucky Agree on Settlement

NFL News - October 14th, 2009 - Written by John

NCAA Baskeball News is hitting the spotlight on how Billy Gillespie could really use a big chunk of money right about now.

On Tuesday it was announced that he and the University of Kentucky finally came to an agreement to settle their dispute about his tenure with the team. The University agreed to pay Gillespie, former coach of the Kentucky Wildcats, nearly $3 million and over $265,000 in court fees, ending the painstaking lawsuit he filed shortly after being fired.

He was axed in January for a lackluster performance in the SEC and sued the school, claiming the it still owed him for at least four of the years left on the deal. The school contended that there was never an official contract signed by the coach, therefore no breach of contract.

That part was, in fact, true. He had not signed anything, instead working under a memorandum outstanding, ESPN reports. In the memorandum, he was making around $1.5 million and was hoping to make about $6 million in the lawsuit.

He had extra incentive to make the money after he was popped with a DUI charge and hoped to fight it in court. Instead, he received $2.98 million, which his lawer, Demetrios Anaipakos, told ESPN "vindicated" his client's efforts. Kentucky said paying the money was not an admission of guilt, instead rid them of a headache as the new season nears.

The amount he walks out the door with is significantly short of his desired loot, but anything will do. He was stopped in late August for driving erratically in Louisville. He denied a sobriety test and was charged with a DUI for the third time in his life, although neither of the previous cases resulted in convictions.

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