Ex-Louisville HC Rick Pitino Settles Adidas Lawsuit Stemming from 2018 Firing

Adidas has agreed to settle its lawsuit with Rick Pitino, which the former Louisville coach filed following his dismissal in 2018, according to Myron Medcalf of ESPN.

The two sides released a joint statement Monday:

"Adidas and Coach Pitino have entered into a confidential settlement agreement resolving all matters between them. Over sixteen years working with Adidas, Coach Pitino demonstrated his passion for the game of basketball and his commitment to excellence both on and off the court. We wish Coach Pitino the best in his new role as head coach of Panathinaikos, the Greek national team and any future endeavors."

Pitino was fired following an FBI investigation that discovered the apparel company was paying players to sign with the school, most notably Brian Bowen.

Not only did Pitino deny participating in or authorizing the scheme, he argued in the lawsuit that Adidas "caused him emotional distress when its employees conspired to bribe University of Louisville basketball recruits," per Medcalf.

Meanwhile, the basketball coach benefitted greatly from his relationship with the company in the past.

According to Andrew Wolfson of the Courier-Journal, Pitino received 98 percent of the cash provided to Louisville from Adidas, worth about $1.5 million per year.

After his removal, the 67-year-old filed a lawsuit against the company that was initially dismissed by a federal judge, but it appears the two sides have come to an agreement.

Pitino also reached a settlement with the school in September after suing for the $38.7 million remaining on his contract when he was let go.