A-State: Payment received for McCasland buyout

A-State: Payment received for McCasland buyout

JONESBORO, AR (KAIT) - According to A-State assistant athletics director for media relations Jerry Scott, the Red Wolves Foundation received the $500,000 payment via wire transfer this afternoon from the University of North Texas.

The buyout of $500,000 for former Arkansas State University Coach Grant McCasland had not yet been paid as of Tuesday morning, Scott said earlier in the day.

The deadline for payment was Monday.

McCasland, and/or the University of North Texas, had owed the money to A-State per the contract he signed in April 2016.

McCasland is the new men's basketball coach at the University of North Texas after leaving A-State in March.

According to A-State, the missing money issue has now been turned over to Brad Phelps, general counsel for Arkansas State University.

On Tuesday, Phelps provided the following letter to the law firm representing McCasland:

Copyright 2017 KAIT. All rights reserved.

Watch Region 8 News On Demand: On your Desktop | On your Mobile device

Region 8 News App - Install or update on your: iPhone | Android