The board of the WVU Foundation has decided not to renew the contract of president and CEO Wayne King.

Board chairman Bob Reynolds told MetroNews Friday the board has been talking with King for several months about his contract, which ends June 30, and came to a mutual agreement.

King

King, who has directed WVU’s private fundraising arm since 2007, has had no comment. He told his staff about the move Thursday.

Reynolds says King has agreed to stay on until Dec. 31 to allow the board to conduct a national search.

“That will give us some overlap,” Reynolds said.

The WVU Foundation is the middle of a capital campaign. The ‘State of Minds’ campaign is the largest in the university’s history. The goal is to raise $750 million. Reynolds says there’s two and a half years left.

“Getting across the finish line is the hardest part in these campaigns,” Reynolds said. “The low hanging fruit has already been picked.”

Reynolds says it was a number of things that led to the decision. He says King is 66; his contract is running out and the aforementioned campaign.

“The timing just worked out this way,” Reynolds said.

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Comments

  • JimC

    For you children who find it difficult to understand, WE ARE A MEMBER OF THE BIG 12. The elitist ACC does not want us nor have they every wanted us because they feel WVU and its people are inferior. The BIG EAST IS GONE. For those of you capable to peck a keyboard but stuck in quicksand, you must realize travel is a part of sports.

  • Charles

    And what do we have in common? We are a state flagship land grant university. Which most of the big 12 is. Unlike the dead big east. Or even the acc. I have visited a couple of these schools. We are more ok state than Cincy or uconn ever dreamed of being. Their universities have our mission. To educate the states population. Not to be snobby acc elitist.

  • Charles

    It didn't make money this year because of the buyout. Get your head out of the sand and get out of the wv radio corp propaganda. That is a one time expense on big east money. That is a one time debt.

  • Charles

    I guess The toll was tough on Miami winning nc's in the big east playing teams a thousand miles away. I don't agree with you at all. Notre dame has traveled like this for years. We are not the first program to do this. With Miami as a prime example for old mountaineers. And there is no way you could stay and play with the big boys. It was either move and retain a seat at the big table or become Marshall. And Ollie runs the program as a business like it should be. Not a old boys club. Where you have to be in the click. Ask rich rod about the old way. Tier 3 ran him off for just bringing it up.

  • Rick

    Charles, not wanting to argue, but my personal prediction....we will be no better off financially, because the travel costs will take their toll and we will never be as competitive than some may think. I never said the Big East or ACC were the answer, however, the Big 12 isn't either. Time will tell and I hope I am wrong. I stand by may statement, Oliver isn't the right guy for WVU and time will prove that as well.

    • Luke

      I wonder why Texas A & M, Missouri, Nebraska, Colorado, and Arkansas left such a great conference?

      What is it that WVU has in common with other members of the Big XII/X?

      If it is such a great conference why did Andrew Luck go to Stanford?

      Who was more desperate when WVU was admitted, WVU or the Big 9?

      Of the current 6 BCS conferences, where does the Big XII/X rank? Maybe 4th in football, probably 6th in basketball?

      If it is all about the money,is it better to be in a conference with high revenue and but higher expenses or a conference with low revenue but much lower expenses?

      If WVU's market is WV, why is it working so hard to price itself out of the financial reach of its WV fan base?

      If WVU Athletics is a business, is it making money? I don't think so.

  • Charles

    Hey Rick what was we going to do with our athletic programs. Stay in the big east! Come on. Really! And make 2 mil a year. Or go to the big 12 and play against universities that resemble ours instead of a bunch of private yuppie schools and make 20 mil plus a year. And don't give me the stay and wait on the acc crap. The acc will never ever ever take wvu. Period!

    • Greg

      The ACC as it is today is dead. UNC had on campus meetings scheduled with Jim Delaney this week I think. Four to six schools are on the move out of the ACC at this time. In five years there will only be four super conferences and the ACC won't be one of them. Why would WVU want to be a part of that?

  • Luke

    Let's see if we got this straight, the Executive Director who got WVUF out of its $7,000,000 investment in WV Media Holdings, is fired by the Board of Directors some of whom still have investments in or are employed by WV Media Holdings and may have played a role in the Tier 3 mess.

    And the spokesman for the WVUF says publicly that the reason for the discharge is that the Executive Director is 66 years old!!!! Have we got Dumb and Dumber running this organization?

  • Rick

    Oliver needs to leave and take the Big 12 MISTAKE with him! The travel is going to kill the budget and the players!

  • Brian

    I would expect to see Payne either step down from BOG or divest his interest in WV Media. Luck will probably quietly divest his interest in WV Media. They will probably both sell their interest to some person such that they can still control and enjoy the benefit of it without seeming to be connected.

    • cutty77

      Drew can't get anybody to sell it too.Idon't care what Drew of Oliver does. I'm pleased as Punch that WVRC has nothing EVER TO DO WVU SPORTS AGAIN. LOL

  • Joe

    Who, what, where, when, how?!

  • Woodchuck

    Is this a beginning of what's to come from the media rights deal?

    Dig deeper Hoppy. We need to know.