University of Iowa women's gymnastics coach Larissa Libby resigned from her position effective May 10, ending a successful 24-year run with the Hawkeyes, including 20 as their head coach. Only now it has come to light that Libby and the university agreed upon a $449,000 settlement, plus a final payout of her $173,349 salary, at the time of her departure.
As reported by Vanessa Miller of The Gazette in Cedar Rapids, the settlement amount includes $330,000 in “liquidated damages” because of a clause in her contract requiring the payment for “termination by university without cause,” according to the agreement signed May 13 by UI President Barbara Wilson and UI Athletic Director Beth Goetz.
University of Iowa women's gymnastics coach Larissa Libby resigned from her position effective May 10, ending a successful 24-year run with the Hawkeyes, including 20 as their head coach. Only now it has come to light that Libby and the university agreed upon a $449,000 settlement, plus a final payout of her $173,349 salary, at the time of her departure.
As reported by Vanessa Miller of The Gazette in Cedar Rapids, the settlement amount includes $330,000 in “liquidated damages” because of a clause in her contract requiring the payment for “termination by university without cause,” according to the agreement signed May 13 by UI President Barbara Wilson and UI Athletic Director Beth Goetz.
The final payout, according to the arrangement, will be made in two installments: $200,000 will be paid no later than July 1, and $209,350 will be paid no later than Jan. 15, 2025. The attorneys fees could be paid out sooner and separately.
Libby signed the settlement May 10, three days before the university announced her resignation on the same day it announced that women’s head basketball coach Lisa Bluder was retiring and that Jan Jensen is succeeding her.
In addition to the $330,000 in damages, Libby will receive supplemental pay of $79,350, and the university will pay $39,650 to the Newkirk Zwagerman law firm of Des Moines. The final payout of “salary and earned but not yet paid incentive compensation” includes payment of unused vacation leave.
Libby was placed on leave so as not to compromise an independent review of complaints regarding the program environment under Libby, who was a three-time Big Ten and two-time NCAA regional coach of the year. She coached 12 All-Americans and six first-team All-Americans at the NCAA Championships, as well as 15 Big Ten champions, six NCAA regional champions and 11 NCAA Championships qualifiers. Student-athletes under Libby’s tenure earned academic All-America distinction 51 times, according to Miller's reporting.
Her leave was not considered a disciplinary measure, according to university officials..
"As part of the arrangement, Libby agreed not to sue the university, the state, the Board of Regents or any of its employees or affiliates for any grievances arising from her employment at the UI," Miller wrote. "She also committed not to 'reenter any university athletics department facilities without the prior written consent of (the university)' except to attend events that are open to the public, according to the settlement."
The deal does not constitute an admission of wrongdoing by either party, Miller added. Libby agreed to withdraw all complaints, charges, grievances or claims within five days. She also agreed not to seek or accept any future job with the university.
