Remember Michigan coach Rich Rodriguez’s offer to pay West Virginia $1.5M in an effort to settle the lawsuit by the school over his $4M buyout?
(Just Call him “Sub-Prime Saddam“)
Yesterday, his attorney Marv Robon told the ASSOCIATED PRESS, “We decided we want to show the court, more than anybody else, that we are acting responsibly, that we are acting in good faith. We’re not saying we owe it. We’re trying to say that Rich is a very honorable man, and he and (wife) Rita will pay any obligations that anyone finds they’re due.’‘
Rodriguez and his wife will do the paying? Or the bank run by University of Michigan AD Bill Martin?
The DETROIT NEWS reports today that Rodriguez “received a perk Tuesday that won’t show up on any contract: a critically needed $1.5 million line of credit from the bank founded by his boss, athletic director Bill Martin. The line of credit was filed in U.S. District Court in Clarksburg, W.Va., as Rodriguez sought to stem $4,000 in daily interest piling up in a lawsuit brought by his former employer, West Virginia University.
“The document — essentially a check to the university for $1.5 million — was signed by Lawrence A. Grace, first vice president of Bank of Ann Arbor. Martin is one of the bank’s founders, and is chairman of the board.”
One small detail though, WVU won’t take the check, and intends to drag Rodriguez into court in order to collect the $4M the school says he owes the institution.
On the bright side, that *loan* can now go to Coach Rich’s basement bar re-do.