University agrees to $2.7 million settlement in contract lawsuit.

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OSU Basketball Coach Resigns

Oklahoma City, OK: (Apr-07-08) Sean Sutton, former basketball coach, brought a lawsuit against Oklahoma State University over issues pertaining to his severance. University officials confirmed that Sutton resigned earlier this month, amid rumors that he was pressured to quit. Records showed that Sutton went 39-29 in his two years as the Cowboys' coach. Allegedly, he had three years remaining on a five-year contract. That contract that was agreed to when he still was an assistant on his father Eddie Sutton's staff and ensured that he would be Oklahoma State's head coach-designate, taking over when his father left.

Sources stated that the two sides reached a settlement agreement, in which Oklahoma State University agreed to pay Sean Sutton $2.7 million over 10 years, resolving the dispute. Under the terms of the deal, Oklahoma State will pay Sutton $300,000 immediately and the remaining $2.4 million during the next 10 years at $20,000 per month, starting Jul. 1, 08. The agreement stipulated that he would receive the money even if he accepts another coaching position. University spokespersons said that the settlement money will come from athletic department funds. [WASHINGTON POST: OSU REVEALS DETAILS OF SUTTON SETTLEMENT]