REPORT: Adams, Texas Tech reach $4.1m settlement

According to a report from the Lubbock Avalanche-Journal, Texas Tech has “agreed to pay former Red Raiders basketball coach Mark Adams $3.9 million, less taxes and withholdings, plus a $200,000 retention bonus in a legal settlement the two sides reached this week leading up to Adams’ resignation.”

Adams resigned earlier this week following his suspension for allegedly making inappropriate and racially insensitive remarks to a Red Raiders player.

In his nearly two full seasons at Texas Tech, Adams went 43-25 (.632). After going 27-10 last season, the Red Raiders slipped to 16-16 this season. Their season ended on Wednesday with a 78-62 loss to West Virginia in the Big 12 Tournament. They have since declined an NIT bid.

Also according the Avalanche-Journal report, “had Tech sought to fire Adams without cause, the buyout amount on his contract would have been about $7.5 million.”

The full report is HERE.

Tagged with: