LOUISVILLE (Reuters) - The University of Louisville's Board of Trustees accepted the resignation of the school's president, officials said on Thursday, amid investigations by the FBI and NCAA.
James Ramsey will receive $690,542 to leave the position immediately following his resignation late Wednesday, university spokeswoman Cindy Hess said. He will remain as president of the school's private foundation, she said.
Ramsey became head of the public university in 2002 but in recent years drew criticism as it became the target of inquiries from the Federal Bureau of Investigation and the National Collegiate Athletic Association.
The FBI is looking at whether top university officials misused federal money and the NCAA is investigating whether a university employee paid women to strip and have sex with basketball players, according to media reports.