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

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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