GREENVILLE, N.C. (WNCT) – On Friday the East Carolina University board of trustees met to finalize the buyout agreement for athletic director Jeff Compher.
Compher will receive a potential 1.26 million dollar payout over the next five years.
On top of that, Compher will receive his full longevity bonus of 140,000 dollars at the end of April.
Compher will stay on as ECU’s athletic director until May first.
ECU Chancellor Dr. Cecil Staton said the longevity bonus is prorated and Compher would receive a major portion of that even if we stepped down immediately.
Although Compher is staying on until May 1st, he will no longer take part in the hiring of a new ECU men’s basketball coach.
The deal also requires Compher to make reasonable efforts to find a new job within athletics.
The agreement suggests employment that would pay more than 192,000 dollars a year. If Compher can meet that, it would reduce the school’s obligation to pay him in full.
Staton spoke to reporters Friday about where the money for the deal would be coming from.
“What I will tell you is that it does not come from state funds or from tuition dollars,” said Staton. “It comes from other resources the university has. But, we have flexibility beyond that point, but it will not come from tuition dollars or appropriated funds from the state of North Carolina.”
ECU said the deal is saving them roughly half of what it would cost to keep Compher in the role.
As it stands now, over the next five years Compher will gross more than 21,000 dollars a month.
Many are speculating who the interim athletic director will be.
Staton announced he would be taking a different approach to hiring a new basketball coach.
“Time is of the essence,” said Staton. “We certainly understand that. I hope as early as next week, I will be announcing the appointment of a special council to the chancellor. I don’t know that we will take the traditional route, that everyone is assuming, an interim who will step in. It maybe under a different format. But, we are going to bring in someone that I think will give great confidence to Pirate Nation, someone with an incredible amount of experience, that’s what I’m looking for and I’m hopeful, again, that we will have an announcement on that next week because we certainly understand the importance of timing.”