Minnesota off hook for buyout of Pitino, now at New Mexico

<p>MINNEAPOLIS &mdash; Minnesota does not owe a buyout payment to former basketball coach Richard Pitino for his dismissal, according to the separation agreement provided Wednesday by the university.</p>
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<a href="https://apnews.com/article/richard-pitino-basketball-minnesota-minnesota-golden-gophers-mens-basketball-mens-college-basketball-375158f9be513c53cb06cb1b6e9bb3ed">Pitino was fired</a> March 15. <a href="https://apnews.com/article/richard-pitino-basketball-minnesota-craig-neal-paul-weir-8d3d31522eea686284db13ca71f119eb">He was hired</a> at New Mexico the next day.</p>
<p>In the contract extension Pitino signed in 2019, he had a $1.75 million buyout for a dismissal prior to April 30, 2021, but payment was to cease once he found comparable employment. There was also a $500,000 early termination clause that Pitino would’ve been on the hook for if he pre-emptively departed for another job. Both of those fees were waived in the separation agreement. Pitino will be paid $125,000 for team academic performance bonuses.</p>
<p>Minnesota <a href="https://apnews.com/article/basketball-minnesota-minneapolis-mens-basketball-college-basketball-a379ae02e0bfcd076f643e3194887dc6">hired Ben Johnson</a> to replace Pitino, who went 54-96 in Big Ten play over eight seasons.</p>
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<p>More AP college basketball coverage: <a href="https://apnews.com/hub/College-basketball">https://apnews.com/hub/College-basketball</a> and <a href="https://twitter.com/AP_Top25">https://twitter.com/AP_Top25</a> </p>