The following was released by the University of Kentucky Tuesday evening:
LEXINGTON - The University of Kentucky, the University of Kentucky Athletic Association, and Billy Gillispie are pleased to announce that they have executed a settlement agreement. This agreement, accomplished through a voluntary mediation process, is a fair and final settlement and resolves all litigation between the parties.
To see a pdf of the settlement agreement, click here.
As a result of this agreement, all legal proceedings by and between the University of Kentucky, the University of Kentucky Athletic Association, and Mr. Gillispie will be dismissed.
The University will have no further comment on the settlement agreement.