MU, former AD Reed-Francois settle for $2 million
COLUMBIA, Mo. (KMIZ)
Former University of Missouri Athletics Director Desiree Reed-Francois will owe the school $2 million for leaving in February for another job.
A settlement agreement obtained by ABC 17 News shows that Reed-Francois must pay the school by the end of March 2031. The University of Arizona, which hired Reed-Francois as its athletics director, paid MU $1.5 million in July toward that settlement. Reed-Francois will owe the school the rest of the money.
Reed-Francois left Mizzou with four years remaining on her contract. The sudden departure prompted a search for a new AD that landed Mizzou Laird Veatch as its new head of athletics.
The settlement anticipated a $1.5 million "initial" payment toward the settlement. Records provided by MU show that the University of Arizona paid $1.5 million on July 19. The settlement said Reed-Francois told the school that "no third party has agreed to pay any amount" above the $1.5 million. No other payments have been made yet toward the settlement, according to the university.
Reed-Francois has two different paths to settle the rest. She can pay the school in installments over the next seven years, the first being a $50,000 payment on or before March 31, 2028. A $100,000 payment comes due in 2029, a $150,000 payment in 2030 and the final $200,000 in 2031. The settlement says Reed-Francois can avoid that through a $250,000 payment "without third party funding" by March 31, 2028.
MU spokesman Christopher Ave said the deal allows them to collect more money at once rather than in monthly installments.
"We wish her all the best in her new role," Ave said in an email on Wednesday. "We couldn't be more thrilled to have our new leader in place, building a top athletic program in the SEC and capitalizing on the momentum our Tigers are achieving."
The settlement shows that Reed-Francois signed the agreement on June 26. University of Missouri Board of Curators Chair Robin Wenneker signed it on July 2. The university said it would file a breach of contract lawsuit in Boone County Circuit Court worth $3 million, reduced by any money paid up to that point, should Reed-Francois miss any payments.
