LSU basketball coach Will Wade agrees to forfeit $250K in bonuses, report says

Will Wade’s suspension during LSU’s run to and through the NCAA Tournament is coming back to haunt him, financially.

The Tigers coach forfeited $250,000 in bonuses as the FBI investigates whether he was involved in any wrongdoing tied to alleged pay-to-play schemes involving student-athletes to play at LSU, The Associated Press reported.

Wade agreed to give up the bonuses but has denied any recruiting violations and has since been reinstated to his job.

However, a condition he agreed to is that LSU can fire him for cause and without penalty if he is found guilty of any recruiting violations.

Wade makes $2.5 million annually and has his contract built in such a way that he earns a $50,000 bonus for winning the Southeastern Conference regular season title and $100,000 each NCAA round the Tigers advance in.

Since LSU won the SEC title and made it to the Round of 16, he should have earned $250,000.

Wade was reinstated April 14 after a leaked wiretap caught him allegedly talking about a “strong-a— offer” he made to a recruit.

Wade was discussing the situation with Christian Dawkins, who was sentenced earlier this week for his role as a “recruit runner” for an agent in the FBI’s probe of NCAA’s pay-for-play scandal.

Wade seemed frustrated on the call, saying that a third party associated with the recruit had yet to accept his “offer.” Wade said he thought the commitment wasn’t coming through because the third party wasn’t getting “enough piece of the pie in the deal.”

Originally, Wade said he was going to wait for the FBI probe to conclude before he met with LSU officials. However, the two sides met April 12, with his reinstatement coming two days later.

New LSU athletic director Scott Woodward, who replaced former AD Joe Alleva last week, said Tuesday that “Coach Wade is LSU’s coach, and he will have my 100 percent support.”

He had been subpoenaed to testify about the alleged widespread recruiting scandal, along with Arizona coach Sean Miller, but later Judge Edgardo Ramos ruled that neither man will have to testify.