POSTED: Friday, August 26, 2011 - 1:09pm
UPDATED: Friday, August 26, 2011 - 1:29pm
LUBBOCK, Texas (AP) — Texas Tech officials say Hall of Fame coach Bob Knight will come off the university's payroll next Wednesday.
University President Guy Bailey says that Knight, who stepped down as the Red Raiders coach in the middle of the 2008 season, has been in a fundraising role for Texas Tech, earning $24,000 a year.
Knight's position was eliminated along with four others in the athletic department a couple of months after Kirby Hocutt became athletic director in March.
Officials said $500,000 in salaries was cut from department's budget in the process.
Knight is the winningest men's coach in Division I history with 902 wins. He came to Texas Tech in March 2001 after leading Indiana to three national championships. Pat Knight, his younger son, coached Texas Tech after his father.
Information from Associated Press