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| | Wednesday, September 13 Indiana to honor Knight contract | |||||
| Associated Press BLOOMINGTON, Ind. -- Indiana University will pay fired basketball coach Bob Knight $1.3 million in deferred compensation over 10 years. University counsel Dorothy Frapwell said Tuesday that the university would pay Knight the money owed him from the compensation fund, but could not say when the first payment would be made. Since 1982, the university deposited as much as $80,000 a year in a deferred compensation fund, payable to Knight after his departure from the university. The final deposit of $80,533 was made Sept. 1. Under terms of his contract, Knight will forfeit the compensation if he affiliates with any NCAA Division I men's basketball program in the states of Indiana or Kentucky, or at any member of the Big Ten Conference within eight years of leaving Indiana University. In addition to collecting his deferred compensation, Knight will also be paid the remaining two years of salary owed him under the contract that runs out June 2002. After having a $30,000 fine deducted from his salary, he will collect nearly $140,000 this year. He will be paid more than $170,000 next year. Knight, fired Sunday for failing to live up to a university-imposed "zero tolerance" behavior policy, was replaced by assistant Mike Davis on Tuesday. | ALSO SEE Knight wants to coach again ... soon Knight on Knight: Excerpts from interview with ESPN Interview with Knight went about how Schaap expected Hoosiers name Davis interim coach Knight's accuser might leave IU after receiving threats Ousted General: Knight fired for unacceptable behavior AUDIO/VIDEO   Bob Knight sits down for an exclusive interview with ESPN's Jeremy Schaap.RealVideo: 28.8 | |||||