Any Updates on the Buyout?

Catnap said:

What is the timeline on this thing? Are negotiations happening yet? At what point would this thing go to a judge? I'm sure the athletic dept would like to know where they/BMD's stand with everything. It's been really quiet so I didn't know if anyone has info on this?

It doesn’t go to a judge unless theirs a lawsuit and a settlement isn’t reached before they appear. If nothing happens, there’s no buyout.

The last update I saw on this (last week) was that there was no movement in any direction on this. As in, Tang hasn't even filed a lawsuit yet. Not sure if that is still the case but if it is, you have to think settlement negotiations are happening behind the scenes.

It will take years to get the info that people are interested in, which is the dollar figure paid.

KST8T8 said:

The last update I saw on this (last week) was that there was no movement in any direction on this. As in, Tang hasn't even filed a lawsuit yet. Not sure if that is still the case but if it is, you have to think settlement negotiations are happening behind the scenes.

Is there a certain amount of time Tang would have to file? I'm not a law guy so no idea how all this works.

catfan03 said:

It will take years to get the info that people are interested in, which is the dollar figure paid.

Years?

Catnap said:

Is there a certain amount of time Tang would have to file? I'm not a law guy so no idea how all this works.

I'm not a law guy either but I am sure there is some degree of a statues of limitations with this as with anything else. So yes probably a limit but would likely be several years. My guess is they are working on settling and if they cant come to an agreement, they will then move forward with a lawsuit. Again, not a law guy just my guess.

DroopsyCat said:

Years?

If K-State wants to bury this and hide it from FOIA requests or just flat out refuse then we may never find out for sure.

scottwildcat said:

If K-State wants to bury this and hide it from FOIA requests or just flat out refuse then we may never find out for sure.

The financial terms of a settlement will be public record under KORA. Someone just has to file for it. Personnel compensation is specifically covered in the law.

T2A1 said:

The financial terms of a settlement will be public record under KORA. Someone just has to file for it. Personnel compensation is specifically covered in the law.

KST8T8 said:

I'm not a law guy either but I am sure there is some degree of a statues of limitations with this as with anything else. So yes probably a limit but would likely be several years. My guess is they are working on settling and if they cant come to an agreement, they will then move forward with a lawsuit. Again, not a law guy just my guess.

Not the jurisdiction I practice in, but usually 3-5 years depending on if the claim they’re making is breach of an oral vs written agreement. Most are brought within a year (think discrimination claims have a 300 day window for the EEOC), and plaintiff lawyer for a wrongfully termed employee always wants to have an angle for that claim. But basically, you don’t see the suit filed until close to that 300 day marker unless the plaintiff has a definitive answer that a settlement they can live with isn’t going to happen. Or possibly as a strategic/PR move earlier. Pure speculation, but that one hasn’t been filed is either or neutral or positive, not negative.

KST8T8 said:

I'm not a law guy either but I am sure there is some degree of a statues of limitations with this as with anything else. So yes probably a limit but would likely be several years. My guess is they are working on settling and if they cant come to an agreement, they will then move forward with a lawsuit. Again, not a law guy just my guess.

Statute of limitations for a dispute arising from a written contract (other than the sale of goods) is 5 years in Kansas. Tang would have until February 2031 to file.

scottwildcat said:

There are a lot of exemptions people try to wiggle around. Pay just isn't one of them 😂

I’m only mildly interested at this point. Why, you ask? Because, if KSA isn’t worried about it, and our BM donors don’t appear to be worried about it, then why the f should I care? 🤷

KSYOU said:

I’m only mildly interested at this point. Why, you ask? Because, if KSA isn’t worried about it, and our BM donors don’t appear to be worried about it, then why the f should I care? 🤷

I do think it is funny after all the freaking out those first couple days and how everyone jumped at the Arky attorney being super serious

GoKatSU said:

Not the jurisdiction I practice in, but usually 3-5 years depending on if the claim they’re making is breach of an oral vs written agreement. Most are brought within a year (think discrimination claims have a 300 day window for the EEOC), and plaintiff lawyer for a wrongfully termed employee always wants to have an angle for that claim. But basically, you don’t see the suit filed until close to that 300 day marker unless the plaintiff has a definitive answer that a settlement they can live with isn’t going to happen. Or possibly as a strategic/PR move earlier. Pure speculation, but that one hasn’t been filed is either or neutral or positive, not negative.

The closest parallel I can find is Kevin Ollie, which strung out for over 4 years. UConn ended up paying a total of about $15M once everything was finalized. His original buyout would have been $10M. UConn, Kevin Ollie, settle outstanding disputes in $3.9 million agreement

Catnap said:

Is there a certain amount of time Tang would have to file? I'm not a law guy so no idea how all this works.

https://law.justia.com/codes/kansas/chapter-60/article-5/section-60-511/

Is tangs house up for sale yet? Thinking about making an offer

Imagine stinking up that house with my beer and fat shack farts

I have to think that in this case no news is good news. I would think that the sides are currently at the negotiating table.

scottwildcat said:

If K-State wants to bury this and hide it from FOIA requests or just flat out refuse then we may never find out for sure.

Isn’t FOIA only related to federal agencies? Isn’t KORA the pertinent regulation here? You could be right, but I don’t see how this ends up fitting into an exemption bucket. I’m fairly confident that no lawsuit filed = Tang is SOL and receives $0. edit: I now see that @T2A1 cleared some of this up.

YoureMyBoyBuhl said:

The closest parallel I can find is Kevin Ollie, which strung out for over 4 years. UConn ended up paying a total of about $15M once everything was finalized. His original buyout would have been $10M. UConn, Kevin Ollie, settle outstanding disputes in $3.9 million agreement

Yeah, that’s not happening here.

DroopsyCat said:

Isn’t FOIA only related to federal agencies? Isn’t KORA the pertinent regulation here? You could be right, but I don’t see how this ends up fitting into an exemption bucket. I’m fairly confident that no lawsuit filed = Tang is SOL and receives $0. edit: I now see that @T2A1 cleared some of this up.

Yeah, doesn't matter if they settle or it goes to court, any payout will be public record.

If this goes to trial, best case scenario would be 3 years

Televangelist gonna get pretty antsy for his money.