President James Ramsey said U of L does not have a donation from the Koch brothers yet in an executive committee meeting of the board of trustees this afternoon.

In the meeting, board member Steve Wilson asked about the rumored donation.

“We have not accepted a gift,” Ramsey responded, saying U of L had met with John Schnatter to discuss the potential gift earlier this week.

“The gift is really with John Schnatter,” Ramsey said. “He has asked the Koch Foundation if they would be supportive of a gift he would make to the University of Louisville to create a center for free market economics.”

Ramsey continued to say any agreements would certainly “be consistent with all of the Redbook requirements.”

In addition, the committee moved to officially fire Sam Connally this afternoon. Connally’s termination, initially announced two weeks ago, is effective today.