Former K-State AD describes Prince buyout deal

TOPEKA — Former Kansas State athletic director Bob Krause describes last-minute efforts to nullify a buyout agreement with football coach Ron Prince.

The Topeka Capital-Journal reports that transcripts from Krause's deposition show frantic attempts to invalidate a $3.2 million "secret agreement" with coach Ron Prince last year.

One of the approaches included Krause offering to take out a life insurance policy on himself and naming Prince as the beneficiary.

Prince was fired with three games left of the 2008 season. Under a "memorandum of understanding" Krause devised while serving as athletic director before the season began, Prince is to receive $3.2 million in deferred payments, starting in 2015.

The university has filed a lawsuit seeking to nullify the deal.