Michigan football coach Rich Rodriguez seeks to add business partners to lawsuit

At the time, he faced five felony counts of breach of trust with fraudulent intent for allegedly stealing money from investors, including Rodriguez, a former Clemson assistant.

In court filings, Rodriguez has admitted to signing a loan guaranty for $26.1 million as part of The Legends of Blacksburg, LLC, and that the investment group is in default on the 2007 loan.

Rodriguez has not admitted he’s liable for outstanding payments.

Nexity Bank filed suit against Rodriguez in August for defaulting on $3.6 million, the cost of land Legends purchased to develop condominiums within walking distance of Virginia Tech’s Lane Stadium, saying he was “the financial strength behind the loan.”

Including interest and late fees, the suit now seeks more than $4 million.

In the December motion, Rodriguez asked that each of the third-party defendants share in any payments he “makes voluntarily or is compelled to make.”

Rodriguez, in a previous December filing, asked for a jury trial, though Nexity attorney Wesley Few said he doesn’t anticipate the suit reaching that point.

“He’s got good lawyers and they’ll come up with some rhyme or reason to try to delay it if they can,” Few said. “Anytime you got $4 million in play, people are likely to put a lot of effort into it. But we’re hopeful that we can have a judgment on our lawsuit certainly in 2010, and hopefully in early 2010.”

Michigan referred all questions to Rodriguez’s attorneys. Hamilton Osborne Jr., who represents Rodriguez in this suit, said little when reached at his office Tuesday.

“I think I told you before, I do not intend to discuss with third parties the legal affairs of my clients,” Osborne said.

Rodriguez made about $2.5 million this year as Michigan coach.

Dave Birkett covers University of Michigan football for AnnArbor.com. He can be reached by phone at 734-623-2552 or by e-mail at davidbirkett@annarbor.com. Follow him on Twitter @davebirkett.