University of Arizona first-year athletic director Desireé Reed-Francois and her previous place of employments, the University of Missouri, agreed Wednesday on terms of a $2 million buyout settlement.
According to media reports confirmed by the Columbia Daily Tribune, the settlement agreement signed by both Reed- Francois and UM System Board of Curators chair Robin Wenneker indicates Reed-Francois must pay Missouri by March 2031.
After leaving the Tigers for her alma mater Arizona in February, Reed-Francois could have been on the hook for $3 million, according to her Missouri contract.
According to the Tribune, citing reports by the Arizona Daily Star shortly after Reed-Francois' transition, University of Arizona leadership asked the AD to undertake best efforts to reduce or eliminate the buyout.
Arizona has reportedly paid $1.5 million of the settlement. The rest of the $500,000 will fall on Reed-Francois, and she will have two options to make the payments — one of which halves her dues but reduces her time to pay. Her payments cannot be assisted by “third-party funding.”
According to Calum McAndrew of the Tribune, if Reed-Francois opts to pay $250,000 any time before March 31, 2028, the agreement will be considered settled.
If she opts for the second, longer route, according to the settlement agreement, she will owe four installments worth the full $500,000 by March 2031. The first installment, which would be worth $50,000, would be due by March 31, 2028. The installments would increase by $50,000 each year until paid off.
If Reed-Francois does not pay by the listed date, the University of Missouri would legally be allowed to file a $3 million breach of contract complaint.
As reported by Arizona Sports in September 2023, Reed-Francois will earn a base-salary from Arizona of $1 million per year that climbs to $1.2 million by year five. She will also receive an additional $250,000 contribution from the University of Arizona Foundation.
"The University of Missouri today announced that it has reached an agreement with its former athletic director, Desireé Reed-Francois to compensate the university for her departure," said UM spokesperson Christopher Ave in an email to the Tribune. "We wish her all the best in her new role. We couldn't be more thrilled to have our new leader (Laird Veatch) in place, building a top athletic program in the SEC and capitalizing on the momentum our Tigers are achieving."
