FORT COLLINS, Colo. (CBS4) – The man who has coached the Colorado State University men’s basketball team is stepping down amid allegations of abusive behavior towards players and staff.
“[Larry] Eustachy will formally resign at the end of his current contract year, and under the terms of an agreement will remain on paid leave until June 30,” university officials said in a statement released Monday. ” As part of that amended contract agreement, Eustachy will receive a total of three payments of $250,000 over the next two years.”
Eustachy, 62, was under investigation for alleged abusive behavior, the Coloradoan reported.
Eustachy was placed on paid administrative leave Feb. 3.
“It has been an honor and a privilege to serve as Colorado State’s men’s basketball coach the past six seasons. The players, fans and administration, including President Tony Frank, have made my time in Fort Collins an incredible experience. I am extremely grateful for my time here there are so many positive memories I will take with me,” Eustachy was quoted as saying.
Joe Parker, director of athletics at Colorado State, said he appreciated Eustachy’s efforts on behalf of the university, and supported his decision to step down. The assistant coaching staff will be retained through June 30, which is standard practice at the university under coaching changes, Parker said.
This is the second time he has been investigated for this type of allegation during his six years as coach at CSU, the Coloradoan reported.
CSU looked into Eustachy in 2013-14 for creating an atmosphere of “fear and intimidation” among his players.