Ex-Louisville Coach Rick Pitino Reaches Settlement With Adidas

Thomas Joseph-USA TODAY Sports

Former Louisville basketball coach Rick Pitino and Adidas have reached a settlement sixteen months after a federal judge dismissed his lawsuit against the sportswear company.

Pitino and Adidas released a joint statement on Monday to announce the settlement. The terms of the settlement were not released.

"Adidas and Coach Pitino have entered into a confidential settlement agreement resolving all matters between them," the joint statement said, per ESPN. "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."

Louisville fired Pitino in 2017 amid bribery allegations over the family of All-American Brian Bowen being paid to entice him to sign with the team. The scheme was uncovered during the FBI's bribery investigation that rocked college basketball. Adidas executive James Gatto, Adidas employee Merl Code and aspiring agent Christian Dawkins allegedly put together a pay-for-play scheme to sign Bowen and other recruits. Gatto was ordered to spend nine months in prison, while Dawkins and Code each received six-month sentences after a jury returned guilty verdicts on wire fraud and conspiracy charges. All three men filed appeals in March.

Pitino sued Adidas in 2017 after his firing and alleged the company had "knowingly and recklessly caused him emotional distress when its employees conspired to bribe University of Louisville basketball recruits." He has maintained that he had no knowledge of the bribery scheme.

Following his dismissal at Louisville, Pitino coached Panathinaikos in the Greek league last year. Last month, he was hired to coach Greece's national basketball team.