Greenspan gets golden parachute

June 30, 2008
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greenspanAnother departure at Indiana University, another golden parachute. IU released information today revealing that athletic director Rick Greenspan will get a $441,600 severance package upon his departure and retains the right to write and publish any book he cares to about his time at the university.

Greenspan will step down no later than Dec. 31. The termination agreement that outlined his severance package was dated June 26. No timetable has been set to name his replacement.

“I wouldn’t feel too sorry for Rick Greenspan,” said David Ridpath,  professor of sports administration at Ohio University and past president of The Drake Group, a not-for-profit whose mission includes defending academic integrity in the face of commercialized college sport. “After all the university has been through while he has been there, he’s going to come out of this pretty financially secure. And if he wants to get back into collegiate athletics some day, I have little doubt that he could.”

Do you think Greenspan’s severance package is fair?
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  • berwickguyJune 30, 2008 6:26 PM
    He** no, and that once formidable university has given away a bunch of taxpeyers money for the inept decisions made over the past few years. They need to clean house with more than the athletic department. How about throwing out all of the trustees for being the worst overseers since the board of directors at Conseco during the final years of the Hilbert tenure.

    How much longer will the taxpayers of Indiana stand for the nonsense that goes unchecked in Bloomington?
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  • MervJuly 1, 2008 7:43 AM
    I would say some more changes might still be called for. But the selection of the right person in the AD spot could go a ways toward starting the healing process. As for the severence packages ... they are an outrage. I think most people not in the business of sports or higher education would agree.
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  • berwickguyJuly 1, 2008 11:37 AM
    There is NO healing process, now or ever. What the trustees have allowed to occur at the expense of fans and, most importantly, taxpayer is unforgiveable. It is a DISGRACE!!!

    The next person that says healing or something like closure will forever be an excuse maker for the fiasco in Bloominton.
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  • StanJuly 1, 2008 11:47 AM
    I don't have a lot of confidence in the current crop of trsutees or other leaders within the IU athletic department, but I don't think at some point some of this can't be mended. Geez, even SMU and Baylor have risen from the ashes.
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  • berwickguyJuly 1, 2008 2:25 PM
    Stan,

    Good point, however IU just sealed the fate of continuity and not being able to bury this rat by giving him rights to a book deal. How sad, yet laughable can this be?
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  • MaloneJuly 1, 2008 8:44 PM
    Legally, I'm not sure what IU could have done about a Greenspan authored book. I'd say if Greenspan pens a book about this to make some cash, that will tell a lot about the man. He should take a year off, lay low, and go do some charity work. Same as Sampson should have done, instead of cashing in with the NBA. If Greenspan pens a book, that puts him in the same boat as Sampson in my book ... classless. Simply classless. I hope this is a lawyer's doing and not Greenspan. Greenspan should be embarassed that this provision is in there. He should be twice as embarassed that it's making news. In fact, he should make a statement saying he has no intention of trying to profit from this fiasco to end all this discussion of a book.
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