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Liberty University could owe Jerry Falwell Jr. a $10.5M payoff

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Embattled evangelical leader Jerry Falwell Jr may be owed $10.5million by Liberty University following his resignation in the wake of a sex scandal involving his wife and a Miami pool boy.

The 58-year-old president and chancellor of the Christian school announced Monday he resigned from his post and the Board of Trustees accepted his resignation on Tuesday, effective immediately.

His swift departure comes after his family was embroiled in a series of scandals including a six-year affair between his wife Becki and Miami pool boy Giancarlo Granda, who claimed Falwell would watch them have sex. 

Liberty University now owes Falwell a total of about $10.5million over the next two years following his resignation from the nation’s largest evangelical college, a source with knowledge of his employment contract said to the Wall Street Journal.

Embattled evangelical leader Jerry Falwell Jr may be owed $10.5million by Liberty University following his resignation in the wake of a sex scandal involving his wife and a Miami pool boy. Falwell pictured in November 2018 with wife Becki speaking at Liberty University

Embattled evangelical leader Jerry Falwell Jr may be owed $10.5million by Liberty University following his resignation in the wake of a sex scandal involving his wife and a Miami pool boy. Falwell pictured in November 2018 with wife Becki speaking at Liberty University

The sex scandal erupted after Giancarlo Granda, 29, went public on Monday with bombshell allegations that he was involved in a sexual affair with the Falwells from 2012 through 2019

The sex scandal erupted after Giancarlo Granda, 29, went public on Monday with bombshell allegations that he was involved in a sexual affair with the Falwells from 2012 through 2019

He’s due his $1.25million salary for two years followed by a lump-sum payment of about $8million because a clause in his contract allowed him to resign with full pay if his responsibility were curtailed. 

His responsibilities were put on hold when he was placed on an indefinite leave of absence two weeks ago, the source said.

On Monday evening Falwell said he wouldn’t have to sue to get paid.

‘I didn’t break any rules – I get my compensation,’ he said. 

On Monday Liberty University said Falwell agreed to resign as president but withdrew his resignation later that day. 

On Tuesday school officials said the board of trustees met via conference call on Tuesday and unanimously accepted Falwell’s resignation.

The Board released a statement saying it ‘used most of its meeting to focus forward on the university’s future and steps that could be taken to ensure it remained true to its mission.’ 

‘The university’s heartfelt prayers are with him and his family as he steps away from his life’s work,’ the university said Tuesday. 

Falwell agreed to consult for the school in its transition to a new administration.  

He¿s due his $1.25million salary for two years followed by a lump-sum payment of about $8million because a clause in his contract allowed him to resign with full pay if his responsibilities were curtailed. Liberty University in Lynchburg, Virginia above

He’s due his $1.25million salary for two years followed by a lump-sum payment of about $8million because a clause in his contract allowed him to resign with full pay if his responsibilities were curtailed. Liberty University in Lynchburg, Virginia above

Falwell became head of the university in 2008. Back then he earned $271,000 in pay and benefits, according to tax filings.  

Over the past few years Falwell emerged as one of the country’s most prominent evangelicals and was an early supporter for President Trump.

He is the son of the Rev. Jerry Falwell who passed away in 2007.  

However, Falwell came under scrutiny this summer for his personal behavior. 

In June he apologized after deleting a tweet that showed a person in black face and another in a Ku Klux Klan hood and robe. 

On August 7 he was ordered to take an ‘indefinite leave of absence’ after posting a photo on Instagram that showed him with his pants unzipped and his midsection visible, with his arm around a woman, who he claimed was his wife’s assistant, whose shorts were also unzipped.  

The sex scandal erupted after Giancarlo Granda, 29, went public on Monday with bombshell allegations that he was involved in a sexual affair with the Falwells from 2012 through 2019. 

On August 7 he was ordered to take an 'indefinite leave of absence' after posting a photo on Instagram that showed him with his pants unzipped and his midsection visible, with his arm around a woman, who he claimed was his wife's assistant, whose shorts were also unzipped

On August 7 he was ordered to take an ‘indefinite leave of absence’ after posting a photo on Instagram that showed him with his pants unzipped and his midsection visible, with his arm around a woman, who he claimed was his wife’s assistant, whose shorts were also unzipped 

He said he was 20 when he met the pair in Miami and that starting in March 2012, he had sex with Falwell’s wife Becki several times a year in hotel rooms, sometimes while Falwell Jr. watched, until 2018.

‘Becki and I developed an intimate relationship and Jerry enjoyed watching from the corner of the room,’ Granda said.  

In a statement Falwell Jr. acknowledged the affair but said that he was ‘not involved.’

In his statement on Sunday night, Falwell Jr. said, in part: ‘Becki had an inappropriate personal relationship with this person, something in which I was not involved…it was nonetheless very upsetting to learn about.’ 

Granda, circled left, with the family in an undated photo. They met in 2012 in Miami. He runs a hostel they invested in

Granda, circled left, with the family in an undated photo. They met in 2012 in Miami. He runs a hostel they invested in 

Granda with the family on a trip to Washington DC in September 2018, before, both sides say, their relationship soured

Granda with the family on a trip to Washington DC in September 2018, before, both sides say, their relationship soured

Falwell, picture above with his wife and Trump, flew Granda in 2012 to Liberty University to meet the president

Falwell, picture above with his wife and Trump, flew Granda in 2012 to Liberty University to meet the president

‘I am now dealing with things in a way that I should have done before – including seeking to address the emotional toll this has taken,’ he added. 

For some students, alumni and staffers, Falwell’s exit is a sigh of relief. Falwell is the son of the school’s founder and several other Falwell family members are involved or employed at the school. 

‘I’m hoping they’ll focus more on the Christian aspect of Liberty and not the political aspect,’ Brooke Smoke, a senior at the Lynchburg, Virginia, campus that resumed in person classes this week, said to the Journal.

The school earns about $1.2billion in revenue annually, about 84 percent of which comes from tuition and fees, the tax filing covering fiscal 2018 shows. Its assets total more than $2.8billion. 

LIBERTY ACCEPTS FALWELL JR’S RESIGNATION

On Tuesday, Liberty announced it had accepted Falwell Jr’s resignation, saying in a statement: 

‘The Liberty University Board of Trustees acted today to accept the resignation of Jerry Falwell, Jr. as its President and Chancellor and also accepted his resignation from its Board of Directors. All were effective immediately.

‘After agreeing yesterday to immediately resign then reversing course, Falwell, through an attorney, sent the resignation letter late last night to members of the Board’s Executive Committee pursuant to the terms of his contract of employment. The Executive Committee met this morning and voted to accept all the resignations immediately and recommend ratification to the full Board. Later this morning, the full Board gathered via conference call and unanimously voted to affirm the decision of the Executive Committee. Falwell’s severance compensation was dictated by the terms of his pre-existing employment agreement without any adjustment by the University or its Board.

‘The Board, composed of a mix of alumni, pastors and business executives, active and retired, used most of its meeting to focus forward on the university’s future and steps that could be taken to ensure it remained true to its mission. The Board set its next meeting in Lynchburg to select a search committee for its new President.

‘Acting Board Chairman Dr. Allen McFarland, said, “I am so encouraged by the unity of Christ that I saw exemplified by our Board today. Liberty University’s future is very bright and in capable hands of leaders who are committed to being good stewards of what the Lord has entrusted!”

‘Jerry Prevo, who will stay on as Acting President, said, “Our students are ready to be world changers as Champions for Christ. Their spirit is strong as they look to the future. I intend to do all I can to nurture their spiritual side as they grow academically and enjoy all our campus has to offer.”

Falwell was the fourth president of Liberty University, assuming the role after his father, Liberty founder Dr. Jerry Falwell, Sr., passed away in 2007. He previously served as the university’s general counsel. During his time as president, Falwell Jr. oversaw more than $1 billion of ongoing or planned construction as the campus was almost entirely transformed with new world-class academic buildings and athletics facilities. He worked with university leadership to achieve record enrollment in residential and online programs, which now stands at over 100,000 students. 

‘The university’s heartfelt prayers are with him and his family as he steps away from his life’s work.’

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