University of Minnesota Regents on Thursday discussed a resolution that would require board approval for the largest Gophers coaching contracts.
Regent Michael Hsu presented the resolution, and the board voted to refer it to the governance and finance committee, which will next meet when the regents reconvene May 11-12.
Hsu has acknowledged the matter stems from concerns over men's basketball coach Richard Pitino's contract extension, which includes a current buyout of $7.1 million. Pitino's contract was signed just days after former athletics director Norwood Teague's abrupt resignation last August.
Under Hsu's resolution, the board would have final approval over any contract at the university exceeding at least $600,000 in total value, or $250,000 annually. The board previously had approval authority over coaches contracts up until 1996.
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