Regents approve $700K settlement for former UH basketball coach Gib Arnold

KAHULUI, MAUI (HawaiiNewsNow) - The University of Hawaii Board of Regents voted Thursday to approve a $700,000 settlement over the removal of former basketball coach Gib Arnold.

In the settlement, which was approved by a vote of 8 to 6, Arnold will drop all claims against the university and receive $500,000 while lawyers in the case will divide the rest.

Here's the settlement breakdown:

$300,000 to be paid November 30, 2015 ($200,000 to Arnold’s attorney, $100,000 to Arnold)
$200,000 to be paid January 15, 2016
$200,000 to be paid January 15, 2017

After today's vote, UH Manoa Chancellor Robert Bley-Vroman said, "It's time for the university to move past this chapter in the history of UH men's basketball. It is the best thing for UH and it is the best thing for the program. Now we can turn our full focus to the future and the players and coaches, as they prepare for the upcoming season."

Arnold was fired a year ago amid an NCAA investigation into the men's basketball program.

The NCAA, which began its hearings Thursday in Dallas on the issue, alleged that UH gave free hotel rooms to recruits and a free iPads to player recruits. They also accused Arnold and others of covering up the perks.

Arnold, however, said his contract entitles him to receive the big payout because he was terminated without cause. The contract said he was entitled to double the amount he earned up until his termination.

The university disagreed, and even sued Arnold, saying he owed $1.4 million. In February, Bley-Vroman said, "We believe we paid Gib everything he is owed under his contract."

Meanwhile, Arnold's attorneys said the the former coach is pleased with the settlement.

"Coach Gib ... believes that the nature of the settlement answers many questions that the public had about this matter. The remaining questions the public has will soon be answered by the NCAA hearing process that has us in Dallas today."