Panathinaikos coach Rick Pitino and sports fashion giant Adidas have settled on a legal dispute that began in 2017.
That specific terms of the settlement were not disclosed, but the two parties released a joint statement that acknowledged the issues had been settled.
Pitino filed a lawsuit stating that Adidas had “knowingly and recklessly caused him emotional distress when its employees conspired to bribe University of Louisville basketball recruits.”
The lawsuit was initially dismissed by a federal judge who ruled that the two sides must settle the case in arbitration.
“Adidas and Coach Pitino have entered into a confidential settlement agreement resolving all matters between them,” the statement said.
“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 also sued the University of Louisville for a breach of contract, seeking the money he felt was still owed to him.
Both Pitino and the university settled in September, resulting in Louisville agreeing to call the coach’s exit a resignation instead of a firing. Pitino however didn’t receive any money.
