Wichita State releases details, Marshall to receive $48K payments every two-weeks starting Dec. 11

Shockers

WICHITA, Kan. (KSNW) – More details have surfaced Thursday about the settlement Gregg Marshall received for resigning as Wichita State’s head basketball coach.

The Confidential Severance Agreement and General Release, which was released by WSU Thursday afternoon, was signed by Gregg Marshall on Tuesday, Nov. 17, and implemented his resignation effective immediately upon signing.

In the 16-page separation agreement involving Marshall’s departure, some of the derived highlights show that out of the nearly $7.75 million dollars Marshall will receive from the university over the next six years — $7.5 million dollars will be paid to Marshall Hoops, LLC, which is his company.

Those payments will be paid every two weeks, in installments of a little more than $48,000 per pay for 156 equal payments. The payments will start kicking in on December 11, 2020. The remaining $250,000 dollars will be paid to Marshall in a lump sum.

Also noted from the agreement, is that Wichita State has agreed to pay Marshall’s golf memberships at both Flint Hills National Golf Club and Crestview Country Club through the end of the year.

Under the agreement, Marshall must cease and terminate all professional services, endorsements, contracts, engagements, and authorizations with Wichita State University and Intercollegiate Athletic Association Inc., or any reference to Wichita State University and Intercollegiate Athletic Association employees, students, marks, logos, departments, sports programs, or academic programs.

The agreement states that Marshall must return any university-issued property or vehicles by Dec. 16, 2020.

To view the full separation agreement, click here.

LATEST STORIES:

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Download the KSN News App and stay up-to-date wherever you are. You can even watch KSN News live for free!
Click here to get the app
Get it in the App store
Get it in the Google Play store

NBA Stats

3 Day Forecast

KSN Storm Track 3 Weather

Trending Stories