Robert S. "Bob" Krause (September 12, 1945 – December 16, 2015) was the vice president for institutional advancement at Kansas State University, USA, from 1986 to 2009 as well as acting athletic director from 2008 to 2009.
[3] Krause resigned from his position on January 27, 2009,[4] effective March 31, 2009, due to controversy involving a $2 million settlement award to the former athletic director Weiser, who left Kansas State in part because he refused a raise and increased buyout for Prince.
However, due to an alleged secret negotiation of a deferred compensation agreement with the former head coach Ron Prince, Kansas State University's president, Jon Wefald, requested, and received, Krause's resignation.
[6] On May 20, 2009, Kansas State University and its athletic corporation filed suit to have a secret agreement between Prince and Krause declared invalid.
Krause had earlier entered into an agreement to pay a total of $3.2 million in three deferred payments to a corporation set up for Prince, In Pursuit of Perfection, LLC.
Wefald denied any knowledge of this secret transaction and immediately called for Krause to resign as director of economic development for the K-State Olathe Innovation Campus, which he did, effective on May 20, 2009.
The secret deal was discovered on May 11, 2009, as the university responded to "routine informational requests" for a lawsuit involving a former defensive coordinator Tim Tibesar.
K-State's interim athletic director, Jim Epps, said, "On May 11, 2009, I learned of a secret deferred compensation agreement that Bob Krause apparently negotiated with Ron Prince's attorney.