Rick Pitino and the University of Louisville Athletic Association's executive committee agreed to a settlement Wednesday following a two-year saga.
According to WDRB's Eric Crawford, Pitino will not receive any money in the settlement. Pitino was fired in October 2017 in the wake of a federal investigation into alleged corruption in college basketball, but as part of the settlement, his personnel file will now say he resigned, The Athletic's Jeff Greer reported.
"Coach Pitino and the University of Louisville have mutually agreed to dismiss their legal claims against each other, designate his departure as a resignation, and move forward," the committee said in a release.
Louisville Athletic Director Vince Tyra called it a "terrific day" for the university, according to Cardinal Authority's Jody Demling.
Pitino filed a breach of contract lawsuit in November 2017 and sought damages of more than $4 million per year through 2026. He argued Louisville did not allow him due process in placing him on administrative leave and locking him out of his office and had no grounds on which to terminate his contract "for cause."
After coaching in the EuroLeague for half of a season earlier this year, Pitino has told ESPN he hopes to return to the NBA.
Pitino won the national championship at Kentucky in 1996 and at Louisville in 2013. Louisville was ordered to vacate its 2013 championship as the result of NCAA violations.
