By Ashley Dunkak
CBS DETROIT – Michigan announced the terms of its buyout of athletic director Dave Brandon, who resigned from his position Friday amid another season of bad football and several public relations debacles.
Per the settlement agreement, Brandon will be paid $3 million over the next four years – $700,000 through June 2015, $950,000 through June 2016, $750,000 through June 2017 and $600,000 through June 2018. Those amounts can be reduced if Brandon is hired elsewhere.
Brandon will retain the use of two company vehicles through the end of the year, will retain his health insurance through June 2015, and will also retain two Regents Emeritus seats to football, hockey and men’s basketball.
The settlement agreement prohibits Brandon or the university from discussing the negotiation that took place leading up to the agreement, and it forbids disparaging statements from either party about the other.