FAYETTEVILLE, Ark., March 1 (UPI) -- The University of Arkansas announced Friday it had bought out the contract of basketball coach Nolan Richardson, who all but assured his departure from the school with a tirade last week against his critics.
The school will pay Richardson $3 million over the next six years, ending a tenure that produced one national championship, three trips to the Final Four and 16 NCAA Tournament appearances.
Assistant head coach Mike Anderson will take over the team for the rest of the season.
At a news conference last Saturday, Richardson, without any questions being asked to provoke it, complained bitterly that he was being unjustly criticized this year for the team's losing record. He said he was being treatened unfairly because he was black and also pointed out that there were no black reporters covering his team.
Although school officials said the following day that Richardson was just frustrated over the team's performance this year, they acknowledged that the school's athletic program had been damaged by the coach's remarks.
After two days of discussions, the buyout was instituted by the school. Richardson's contract contained a clause which gave the school the right to do what it did Friday.
"This action was taken after Richardson expressed his desire, publicly and privately, for the university to buy out his contract," the school said in a statement.
"We are grateful to coach Richardson for his many contributions to the program over his tenure," Athletic Director Frank Broyles said. "We believe it is time for a change in leadership for the best interst of the basketball program.
"The search for a new head coach will begin as soon as it is appropraite. At that time, we will make every effort to hire the best candidate to lead what I believe is one of the premier programs in college basketball."
"I have been a friend and admirer of coach Richardson, so this is a difficult decision for the university," said the school's chancellor, John A. White. "He has made many valubale contributions to the University of Arkansas and has provided exemplary service to so many causes and charities throughout the state. His legacy will last forever, but it is now time to look to the future."
Arkansas currently has only its second sub-.500 record since Richardson took over the program and will need to win the Southeastern Conference Tournament next week in Atlanta in order to secure a spot in the NCAA tourney this season.
Prior to coming to Arkansas, Richardson coached five years at Tulsa. His career record is 508-206.
