MANHATTAN, Kansas – At K-State Wednesday a lawsuit was filed and longtime administrator Bob Krause was fired. It comes after an alleged secret payment agreement between Krause and former football Coach Ron Prince was discovered.
After he was fired last November, Ron Prince was paid $1.2 million his contract stipulated as a buyout. Last week, it was discovered that Krause and Prince had an alleged under-the-table deal that will pay him an additional $3.2 million.
That would pay the coach three more lump-sum payments -- $800,000 in 2015, another $800,000 in 2016 and $1.6 million in 2020. A memorandum of understanding is signed only by Krause and Prince and the payments are to be made to a limited liability corporation called In Pursuit of Perfection, LLC.
After discovering and reviewing the document, K-State has filed suit, saying that their attorneys were not involved in the deal and that in fact, In Pursuit of Perfection, LLC doesn’t even exist or did not when the deal was executed last August.
Krause came to K-State with President Jon Wefald and has served as his right-hand man for 23 years.
Wefald fired his longtime friend Wednesday, who he placed in the AD chair despite no experience in athletic administration.
