Report: Calipari, Rose pay $100,000 to Memphis ticket holders for vacated season



A Memphis Commercial Appeal report says John Calipari and Derrick Rose agreed to pay $100,000 combined to Memphis season ticket holders for devaluing their tickets after the vacated 2008 season.

Calipari also paid his bonus, valued at $232,000 after taxes, to the University of Memphis scholarship fund. The agreement laid out a four-year payment plan starting in 2010. According to the Commercial Appeal, “U of M attorney Sheri Lipman said Thursday that she believes Calipari made a donation of $58,000 last fall.” The settlement said Memphis was “not pursuing claims for reimbursement of bonuses,” but that Calipari agreed to pay it back.

The payments were agreed upon in an out-of-court settlement after a threatened lawsuit from three Memphis attorneys.

From the story:

Calipari and Rose, according to the settlement agreement obtained Thursday by The Commercial Appeal, agreed on May 28, 2010, to pay a total of $100,000 to the three attorneys — Martin Zummach, Frank L. Watson III and William Burns — who were representing, in the agreement’s words, “certain ticket holders.” The amount was to be dispersed “as they agree among themselves.”

Calipari, who left Memphis after the 2008-09 season for the University of Kentucky, also agreed to donate his bonus to the U of M scholarship fund. The agreement approximated the value of the bonus at $232,000.

The full story can be read here.

More suggested reading: Memphis columnist Geoff Calkins takes on the situation, saying that someone in Memphis “finally stood up to John Calipari.” Read that here.