Rick Pitino's Contract with Adidas Terminated Following Louisville Firing

Rick Pitino officially fired by Louisville after athletic board meeting

Already on probation for a scandal involving strippers and escorts entertaining recruits and other players in dorm rooms - Pitino also said past year he was unaware of those actions - the Louisville basketball program could face severe NCAA penalties depending on the outcome of the current investigation. "At the end of the conversation we felt that our initial decision to begin the process of termination for cause was still in the best interests of the university".

The Louisville Courier-Journal reports that the board met in executive session for almost five hours on Monday before announcing its decision.

As he did during the prostitution scandal, Pitino argued ignorance and claimed that head coaches of major basketball programs can not be held responsible for the shady actions of their employees.

Attorney Steve Pence stated his case while the ULAA was meeting to discuss whether to fire Pitino almost three weeks after the school acknowledged the program's involvement in the investigation.

"ULAA's October 4, 2017 letter to me says that I should have known about any assistant coach or staff member's complicity in the bribery matter", Pitino wrote in his affidavit.

"There isn't just a single reason", Louisville interim President Greg Postel said following the announcement.

"Your involvement in these recent scandals can not be considered isolated events", Postel wrote. "Instead, they are illustrative of a pattern and practice of inappropriate behavior". He has maintained his innocence, saying he knew nothing about the alleged bribery scandal.

Pitino reportedly pocketed as much as 98 percent of the school's five-year, $39 million deal with Adidas while leaving less than a million for the school and the program.

One of the most successful college basketball coaches in history, Pitino, 65, was 416-143 in 16 seasons as Louisville head coach and is in the Naismith Memorial Basketball Hall of Fame with 770 career victories. The attorney later distributed a detailed 55-page document that includes letters of support for the coach, including one from David Padgett, who was named as Pitino's interim replacement on September 29. The contract includes a $400,000 base salary with an additional $400,000 for participation in public relations, fund-raising and other duties, as well as another $200,000 in incentives and potential bonuses. One of those coaches was former Indiana Pacers player and Auburn associate head coach Chuck Person.

This story will be updated.

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