Rich Rodriguez Sued (Again!) For Nearly $4 Million

This is how Rita looks with nearly unlimited money. Just imagine if that changes for the worse. On second thought, don't imagine that, especially if you're pregnant or nursing. [photo via multimedia.detnews.com]
Note: This was written by Country Roads, but he was blinded while trying to crop the above photo and was unable to post himself.
I'd be crying too if I was on the hook for $4 million for the second time in two years. According to a report on AnnArbor.com, Rich Rodriguez was named as one of five defendants in a lawsuit brought in federal court in South Carolina by Nexity Bank to recoup defaulted loan payments.
According to court filings, The Legends of Blacksburg, LLC, signed a loan promissory note for $26.1 million in September 2007, when Rodriguez was coach at West Virginia.
In an addendum a year later, the loan obligation was reduced to $3.6 million. It matured in May and is collecting interest at $933 a day, according to complaint.
According to the Web site vatechcondos.com , the proposed development features one-, two- and three-bedroom condos, all with views of Lane Stadium and within walking distance of Virginia Tech’s athletic complex.
This just keeps getting better. Really, how many poor decisions can one man make before someone---a family member, a close friend, a psychologist, anyone really---intervenes to stop him from further tarnishing his own reputation and edging his family closer to the brink of bankruptcy? Of course, when you have the infinitely wise and business-savvy Mike Brown managing the projects (start reading on p.14) in which you invest, you have to figure those projects are going to be like magical cash-cows, right? I mean, it's not like Mr. Brown has ever steered you wrong before, right?
What's funny is that he and Brown were developing these condos to overlook the football stadiums at Virginia Tech and Alabama. On the website for the "Legends of Blacksburg" development, Frank Beamer gives his endorsement:
Dear Hokie Friends and Supporters,
I want you to be the first group of fans, alumni and supporters to hear about an exciting first-of-its-kind condominium development, The Legends of Blacksburg. The Legends boasts a premier and rare location close to Lane Stadium and all the exciting game-day activities associated with the tradition of Virginia Tech football.
I believe you, the Hokie faithful, will truly appreciate the quality construction and unmatched amenities of this premier opportunity. This development puts Virginia Tech ahead of most major college institutions in the area of athletic-oriented condominium developments.
Built featuring the traditional Hokie Stone textures, this property will be uniquely Virginia Tech! The Legends of Blacksburg gives you, our strong supporters and fans, the rare opportunity to join me and "live among the legends" of Virginia Tech athletics.
Sincerely, Frank Beamer
In other words, Beamer thinks that this development would be a neat idea for VT fans, but doesn't think enough of it to sign his name to the promissory note. Instead, he gets Rod on the hook to fork over the money in case the deal goes south. Nice. Apparently once you figure out how to defend the spread, you can manipulate other aspects of RichRod's life just as easily.
Tellingly, there's no equivalent seal of approval from Nick Saban on the Bama development. When asked to comment on the condos, Nick Saban merely replied, "My next stop will not be at another school but retirement to Lake Burton in north Georgia, because this place sucks. Why on God's green earth anyone would want to spend more than 3 years in Tuscaloosa is beyond me, unless they were being paid handsomely, like me and most of our players. Now if you'll excuse me, I have to go oversee our voluntary workouts."
Really though, in the grand scheme of things, this probably isn't that big a deal. It's not like he committed a crime. Investors and developers default on their obligations all the time. That's why we have contracs and that's why we have a legal system to enforce those contracts. And when he signed the Note in 2007, he probably figured he had an extra $4 million to play with because, well, he certainly wasn't going to have to pay any kind of buyout to WVU if he ever decided to leave.
According to the complaint, it's a simple action to recover on a guaranty. Nothing more, nothing less. So, other than the fact that it's more of a headache for a man already in need of an IV drip of pure ibuprofen, there doesn't appear to much juice to the story . . . unless you dig a little deeper to discover that he was served at his football office in Schembechler Hall one day after practice.
Oh, how I would have paid to have been that process server:
"Hey, Coach Rod, nice practice today."
"Thanks, um, how did you get past security?"
"Tate Forcier's really coming along. You better hope he figures out the zone read by the time you play Notre Dame."
"Yeah, I think we can win with him. We're looking for a little better balance this year and I hope we can get that."
"Well, a conference title and a trip to a BCS bowl would be a real coup for you in your second season."
"We're going to try to take it one game at a time. Our second team offense couldn't score against air right now, so we need to develop some depth."
[/throws Complaint and Summons on desk]
"Yeah, and that $200,000 bonus will come in awfully handy after you get hit with this $3.6 million dollar verdict!! BWAHAHAHAHA."
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Comments
U of M won't pay for this one.
Nope. The man’s got troubles. Sorry I posted about this in the comments on the last RichRod story. I should’ve known that you guys would get it up there quick (fights urge to make dick joke).
I will repeat what I posted there: Karma is a mean prison bitch who slaps a man from all directions.
BTW, why is Rita wearing White-Out for lipstick?
If he loses this suit, that will be 5.5 mil in judgments against him. Plus a million dollar house for sale in Morgantown, and an untold tanning bed expenses for Rita and hair regrowth treatment for himself. If he is fired by Michigan, within the next 2 years, he’ll have a house on the market there, too and will be pushing bankruptcy. If I was Rhett, I would be worried that I might have to earn my scholarship now for the class of 2017.
DETROIT FREE PRESS
Needs to see this. RR was interviewed by Speilman on 1460THEFAN here in Columbus this afternoon…they believed the tears and are supporting him. Can anyone say naive.
KEN
Spielman AND Rodriguez
are buddies. When RRod was at WVU, Spielman gave him props all the time, interviewed him frequently, etc.
People in C-bus generally want what’s best for Michigan, because that’s the only team w/ national recognition they’ll beat this season, after getting beat by USC at home and Penn St. during “whiteout”.
He's got a type
Rich Rod sure has a thing for cheerleaders, the Lion King, and 4 million dollar lawsuits.
A rough week....
indeed. I bet he beats his wife when he gets home, either verbally abuses his kids or more likely completely neglects them.
You could always read him like a book when he was on the sideline and his body language always indicates that he is a ticking time bomb.
Have you been drinking your face off?
by 5th Year Senior on Sep 1, 2009 8:58 PM EDT up reply actions
LMAO
“Nick Saban merely replied, “My next stop will not be at another school but retirement to Lake Burton in north Georgia, because this place sucks. Why on God’s green earth anyone would want to spend more than 3 years in Tuscaloosa is beyond me, unless they were being paid handsomely, like me and most of our players. Now if you’ll excuse me, I have to go oversee our voluntary workouts.”
HAHAHAHAHAHAHAHAHAHAHAHA
Cryptkeeper!!!
Right on with that.
But look at the look she is giving to whomever. Is she looking at Rod? Because if she is, I know that look too well…it is the wife look that sceams: “You dumb fuck! How did you fuck this up!….and more importantly, why did you have to leave West Virginia just because of your shortcomings!”
God, I feel like I am being mean, and lord knows I am no looker these days, but can’t believe that is her. Is it really? Are she and Rod the same age?
...And....
…kind of cool that WVUIE threw St. Pauli Girl at us today….looking at Rita, is she the end-result of the Eat Drink and Be Merry Girl? (Although I don’t think Rita ever entered the level of hot as that busty beauty…)
All you younger fellows keep that in mind.
I know someone has said this before, but
Doesn’t Rita look alot like the landlord that Roy Munson has to do the deed with in Kingpin?
And honestly, we all hold a grudge against RR, but couldn’t he upgrade her by now to someone more attractive?
God I hope there is a quality HumpDay tomorrow, cause Rita is making me sick.
by BurghMountaineer on Sep 1, 2009 9:01 PM EDT reply actions

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