Michigan football coach Rich Rodriguez seeks to add business partners to lawsuit
Rich Rodriguez
In a third-party complaint dated Dec. 14, Rodriguez requested that Floyd Elliott, Jeffrey Greene, the estate for Lamar Greene and Tulsa assistant coach Ron West be added to the suit seeking more than $4 million.
Lamar Greene, the former Clemson booster who Rodriguez’s financial advisor, Mike Wilcox, alleged was at the root of a Ponzi scheme precipitating the failed investments, died Oct. 29.
At the time, he faced five felony counts of breach of trust with fraudulent intent for allegedly stealing money from investors, including Rodriguez, a former Clemson assistant.
In court filings, Rodriguez has admitted to signing a loan guaranty for $26.1 million as part of The Legends of Blacksburg, LLC, and that the investment group is in default on the 2007 loan.
Rodriguez has not admitted he’s liable for outstanding payments.
Nexity Bank filed suit against Rodriguez in August for defaulting on $3.6 million, the cost of land Legends purchased to develop condominiums within walking distance of Virginia Tech’s Lane Stadium, saying he was “the financial strength behind the loan.”
Including interest and late fees, the suit now seeks more than $4 million.
In the December motion, Rodriguez asked that each of the third-party defendants share in any payments he “makes voluntarily or is compelled to make.”
Rodriguez, in a previous December filing, asked for a jury trial, though Nexity attorney Wesley Few said he doesn’t anticipate the suit reaching that point.
“He’s got good lawyers and they’ll come up with some rhyme or reason to try to delay it if they can,” Few said. “Anytime you got $4 million in play, people are likely to put a lot of effort into it. But we’re hopeful that we can have a judgment on our lawsuit certainly in 2010, and hopefully in early 2010.”
Michigan referred all questions to Rodriguez’s attorneys. Hamilton Osborne Jr., who represents Rodriguez in this suit, said little when reached at his office Tuesday.
“I think I told you before, I do not intend to discuss with third parties the legal affairs of my clients,” Osborne said.
Rodriguez made about $2.5 million this year as Michigan coach.
Dave Birkett covers University of Michigan football for AnnArbor.com. He can be reached by phone at 734-623-2552 or by e-mail at davidbirkett@annarbor.com. Follow him on Twitter @davebirkett.
Comments
UofMbeWorser
Thu, Dec 24, 2009 : 1:08 a.m.
".....Rodriguezs financial advisor, Mike Wilcox, alleged was at the root of a Ponzi scheme....." Could someone from the UofM school of business please go to Rodriguez and explain to him and his Attorney what a Ponzi scheme is, Because i think they truly do not know. Then could you explain to him what speculative Real Estate is, and let him know that when you Gabble on real estate futures there is always the possibility of Loss. You cant sue your broker when you tell him to put all your money into a Bone Head stock, you cant sue a casino when you take a hit on 17, and you cant walk away from a bank loan when your real estate venture goes awry. http://www.youtube.com/watch?v=tzUhsngrONA
The Grinch
Wed, Dec 23, 2009 : 12:40 p.m.
This team will be lucky to win 5 games next year. Maybe then we can kiss NimRod goodbye.
NoBowl4Blue
Wed, Dec 23, 2009 : 9:22 a.m.
Relevant news it is. Rich Rod is shady yet the blind can't see. Bet all the opinions change with another 5-6 win season.
xmo
Wed, Dec 23, 2009 : 9:20 a.m.
I like RR it reminds me when I was growing up watching Bump Elliot coach U of M.
chosen1
Wed, Dec 23, 2009 : 6:59 a.m.
Let's look at it logically, if someone is suing me and Im part of a business partnership, but I'm the only one being sued as I am the most recognizable face and have the deepest pockets of the group.....then heck yeah I want my partners involved in the lawsuit as they are equally as responsible for this mess. The deal was bad cause of one person and he is now deceased. RR only invested money in this, he didn't know the guy was going to take the money and then not do anything about making this real estate deal a reality
The Watchman
Wed, Dec 23, 2009 : 4:57 a.m.
UM is already patterned to pay 4 million on RR's behalf. Let's continue the trend. At this rate, the athletic department will not self sufficient for long. Long live the RR reign of losses.
Salinegoblue
Wed, Dec 23, 2009 : 1:51 a.m.
Here we go again, when will it end for this guy, another embarassing situation for the U of M. Wasn't there some type of background check done on him??
Sean T.
Wed, Dec 23, 2009 : 1:04 a.m.
In my opinion, for RR to try to add former partners to the lawsuit shows some form of guilt doesn't it? Why wouldn't he just sue them himself to gather back what was lost? Oh well, all I care about is the wins and the losses and from that I'll judge him. I guess I should'nt have spoke harshly about the character of Zook and Dumbtonio.
XTR
Tue, Dec 22, 2009 : 7:17 p.m.
RR is a shady character himself. Bill Martin hired a shady character to lead UM. real estate deals Alabama escape refusal to pay contract clause which UM paid attrition of good players losing seasons investigation of UM for NCAA violations Even if UM has a decent year next year, this guy is too shady.
BlueInBama
Tue, Dec 22, 2009 : 7:01 p.m.
Lokalisierung, To answer your question, Martin and Coleman hired RR after being rejected by Les Miles and Greg Shiano. It was a 3rd option panic reaction.
razzberry
Tue, Dec 22, 2009 : 6:23 p.m.
Imagine that nim-rod blaming someone else for his failures!! I can't believe it!! Same old song and dance with this guy. What a total LOSER!!!!!
Michiganiac
Tue, Dec 22, 2009 : 4:51 p.m.
it was relevant about 6 monthes ago the first time i read it.To me you cann't pass judgment yet.For onr the trial hasn't even started for two we still don't have close to all the facts.I mean this green guy that sapposable ripped them all off is facing five felonys so who is really to blame? I just don't think we can even begin to say.
tcmaizefan
Tue, Dec 22, 2009 : 4:47 p.m.
The writers for the Ann Arbor News, Detroit Free Press, and Detroit News just love putting anything negative about Rodriguez in the paper. With this article, three days before Christmas, the Ann Arbor News could of had the decent sense to wish Rodriguez a Merry Christmas too!
Lokalisierung
Tue, Dec 22, 2009 : 3:48 p.m.
As a fan of rooting against UofM I love all this stuff and have been living a great couple years, but seriously who hired this guy? I understand they wanted to get a new updated offense and i got no problems with that but this guy is just so...country bumpkin. I see him in interviews and he just doesn't seem to get it. I can't believe he could wow anyone in a job interview.
tomhagan
Tue, Dec 22, 2009 : 3:35 p.m.
This is most certainly relevant to Michigan football. Track record, past and present associations in business are all of importance when leading young men and being the "CEO" of a multi million dollar football program. Actually, this should have been uncovered in a pre-hiring investigation that Martin should have had done... but as is common in college football...the rush to hire a new coach prior to the recruiting signing date precluded much of the rational thinking that may or may not have went in to the hiring process.
chosen1
Tue, Dec 22, 2009 : 3:23 p.m.
He is doing the right thing. He wasn't the only one in the business deal so his partners should have to answer financially as well
azwolverine
Tue, Dec 22, 2009 : 2:49 p.m.
Lake Orion, By what criteria do you determine news to be either relevant or irrelevant? It is news about the Michigan football coach which, like it or not, makes it relevant in the eyes of many including, obviously, the media. I find it relevant in regards to the character of our coach which, I believe, should be beyond reproach at Michigan. He has been found guilty of nothing, granted, but I'm interested to see where the story and the lawsuit leads. Remember, when Gary Moeller had public "issues" at Michigan, it became a very relevant football issue as well.
michboy40
Tue, Dec 22, 2009 : 2:46 p.m.
This guy HAS to be under tremendous stress. I can't even imagane going through the crap this guy has been through in the last 3 years. I would be dead of heart attack for sure. Between walking away from your beloved, yet totally dysfunctional home, to loosing games at record pace, to fighting lawsuits on multiple fronts, to bringing an NCAA investigation to Ann Arbor, etc...etc..., when does it end with this guy? He seems to have surrounded himself with shady characters, and bumbling idiots for lawyers. It will be nice when the lawsuits are settled, the NCAA is done slapping us on the wrist, and his players are all in place. Maybe then we can have some piece...and some winning! Go Blue!
MyOpinion
Tue, Dec 22, 2009 : 2:32 p.m.
Well, it is one more negative article about Rich Rodriguez. Isn't that relevant?
Lake Orion
Tue, Dec 22, 2009 : 2:23 p.m.
Can't believe you took the time and space to write about this. This isn't relevant news!!!