Updated at 6:30 p.m.
One day after a lawyer said no release has been signed regarding Joe Paterno’s final contract with Penn State, the family released a statement that said they never wanted to be at odds with the university.
The complete statement, released Friday, said:
“We have always been and always will be devoted to Penn State. It was never our desire to have a dispute with the University or the Board of Trustees.
“Over the last few months, however, our family has been subjected to a series of false and misleading statements that seek to justify the board’s actions by denigrating Joe Paterno’s reputation. We continue to be surprised and saddened by these developments.
“We take no joy in our differences with the board and university, but we will never waver in our defense of Joe Paterno’s record and our advocacy for due process.”
Updated at 10:40 p.m., April 19:
When Penn State released Joe Paterno’s contract, the university said it was finalized. Wick Sollers, the Paterno family lawyer, responded in a statement on Thursday, and said no actual settlement has been made.
Rather, it was “a straightforward payment of moneys indisputably owed to the Paterno estate. The university had requested that the family agree to a full release in return for the payments under the contract. That request was declined and no release was signed,” Sollers said.
Without a release, Paterno’s estate could still sue under the contract or some other reason, if it so chooses, according to Sollers.
Earlier at 7:30 p.m., April 19:
Penn State released final details of its contract with former Hall of Fame football coach Joe Paterno on Thursday.
The contract adds up to approximately $5.5 million and includes a $3 million retirement bonus, a $425,000 annual bonus and the $900,000 in television and radio revenue made last season.
The university said the contract arrangements that were agreed to in August 2011 have been fulfilled with the delivery of payment.
Spokesman Bill Mahon issued a statement on Penn State’s information database openness.psu.edu.
“The University and Coach Paterno’s estate have finalized the remaining payments due under Coach Paterno’s employment contract. As the Board of Trustees has explained, it decided on Nov. 9, 2011 to honor the terms of Coach Paterno’s contract as if he had retired at the end of the 2011 season,” Mahon said.
“That contract recognized Coach Paterno’s decades-long contributions to our football program and to the entire University.”
Among the highlights of Paterno’s contract:
- Retention of the family suite at Beaver Stadium for 25 years, a $1.5 million value.
- A $3 million career bonus if Paterno retired at the end of the 2011 season;
- Status as Head Coach, Emeritus if Paterno retired at the end of the 2011 season.
Paterno, the winningest coach in major college football history, was removed as head coach Nov. 9 in wake of the Jerry Sandusky child sex abuse scandal.
Paterno died Jan. 22 of complications from lung cancer.
