Fired Missouri coach to get $650,000 in severance package
KANSAS CITY, Mo. -- Missouri's fired men's basketball coach Kim Anderson will receive $650,000 as part of a severance package.
Under the agreement released to media outlets Thursday, when the Tigers' season ended in the second round of the Southeastern Conference Tournament, Anderson will receive $450,000 for "liquidated damages" and $200,000 "for meeting or exceeding the academic accomplishment and social responsibilities" spelled out by the school's athletics department administrators.
Anderson also is entitled to $300,000 that Missouri deposited into an annuity account, amounting to $100,000 for each of the three seasons he coached the Tigers, who with Thursday night's loss to Mississippi finished 8-24. Missouri lost seven of its final eight games.
The deal, which was signed March 6 by Anderson and the Columbia school's interim chancellor, Hank Foley, calls for Anderson to remain employed at his current salary until April 4, or earlier if he's hired elsewhere.
Missouri announced last Sunday that Anderson had been asked to step down with two seasons remaining on his contract to run the team, for which he starred in the 1970s and later spent two successful stints as an assistant to beloved coach Norm Stewart.
After losing to Ole Miss, Anderson said he wasn't bitter about being fired from his dream job, where he totaled a 27-68 record. Missouri's 2-14 record in SEC play this season tied a school and conference record for losses.
"I think we did some good things," Anderson said. "But obviously we didn't win enough games. We didn't generate enough money. And when you don't do that in college athletics, you don't get to keep your job."