Bank Claims University of Oklahoma Athletes Accepted Loans, Signed Contracts While in School

The University of Oklahoma is scrutinizing bank information claiming several athletes accepted loans and signed contracts while playing for the Sooners, officials said.

“We are aware of it and we are conducting an investigation,” said Oklahoma interim president Martin Jischke Wednesday. “I have no comment on it until we have completed the investigation.”

The allegations were made in documents filed in Tulsa District Court as part of a lawsuit brought by Triad Bank in Tulsa against Inter-South Sports Management, Inc., operating in several Oklahoma cities.

Triad claims Inter-South defaulted on a $125,000 loan and is seeking to foreclose on security it received for the loan--promissory notes for loans ranging from $1,000 to $25,000 and management contracts allegedly signed by eight Oklahoma athletes.

The information was first broadcast in a copyright story by television station KTUL in Tulsa.

College athletes are prohibited by NCAA rules from either signing with agents or accepting financial assistance that is not available to other students.

Larry Johnson, an Inter-South owner and officer, admitted some of the athletes’ signatures were forged.

The documents name four football and basketball players as having accepted promissory notes: George “Buster” Rhymes, $25,000; Alvin Ross, former running back, $14,880; Shawn Clark, a senior on this year’s basketball squad, $1,070, and Fred Sims, a former running back, $15,602.

Those alleged to have signed representation contracts are: Danny Bradley, a seventh-round draft choice by the Rams; Keith Stanberry, and Paul Clewis, all football players; and W.L. Tisdale, a basketball player.

Johnson said documents showed Rhymes--drafted by Minnesota--received $25,000 from Inter-South but after legal fees and other items were deducted, he claims Rhymes received only $12,000 to $14,000. Johnson maintained Rhymes’ signature is authentic.

Attempts to reach Rhymes at the Vikings’ training camp were unsuccessful.

Members of the Tisdale family and Johnson said the signature of a “W.L. Tisdale” has no connection with them. The full name of Wayman Tisdale, the former All-America drafted by the Indiana Pacers, is Wayman Lawrence Tisdale. His older brother, a fifth-year senior on the Sooner basketball team is William L. Tisdale.

Contract negotiations between Wayman and the NBA’s Indian Pacers are being handled by his oldest brother, Weldon L. Tisdale. Weldon and the Rev. Louis L. Tisdale, their father, said Wayman was not involved in the transactions.

“There is absolutely no chance that he signed,” Weldon said. “None at all. There is no doubt in my mind.” He said he checked with both his brothers and both denied any involvement.

Except for Clark, a senior this fall, all the athletes have either graduated or turned professional.

Also listed in the lawsuit are Brent Barnes; Johnson; Jimbo Elrod, a former OU All-Star linebacker, and Ronald Jett, all of Tulsa. Barnes is the son of a former state Supreme Court Chief Justice.

Barnes, who said he initially signed the players when he was an independent agent in Norman, Okla., sold the documents to Inter-South when he joined the group as a vice-president.

Depositions were scheduled to be taken from defendants in closed sessions Wednesday in the foreclosure proceedings, but were postponed.