(PHOTO: Justin Manning/RedWolfReport.Com)
Former Arkansas State Grant McCasland is happily coaching the Mean Green of North Texas these days, but there is apparently still some business that was late getting taken care of in Jonesboro. McCasland was hired to take over the Division One basketball program in Denton shortly after the season ended.
According to Luke Matheson of RedWolfReport.Com, McCasland had a $500,000 buyout in the terms of his contract with ASU, with a payment deadline of 5:00 PM on Monday April 10th. However, the deadline passed and Arkansas State said Tuesday they didn’t not have their money. Shortly after, McCasland’s attorney, Joey McCutchen of Fort Smith was served with a letter from ASU’s General Counsel Brad Phelps stating that if the payment wasn’t made soon that he could be personally served with a lawsuit.
In most cases, a school that hires a new coach will come up with the money in a situation where a buyout is required. According to a March 14th story from sports reporter Brett Vito of the Denton Record-Chronicle, the University of North Texas had agreed to pay the fee in addition to McCasland’s $600,000 per year base salary.
McCasland’s attorney said of 5:00 PM on Tuesday, the buyout was taken care of.
“It’s been paid.” McCutchen told InsideFortSmith.Com.
As of 7:30 PM, a university representative has confirmed to RedWolfReport.Com that McCasland’s payment was received by the Arkansas State Red Wolves Foundation.
Grant Merrill
Grant Merrill is the Publisher of InsideFortSmith.Com, and owner of parent company Great Plains Digital Media. Prior to jumping into the digital world, he was a longtime sports talk show host on stations across Arkansas. E-Mail: grant@greatplainsdigital.com
