Faced with a story that had spiraled out of control, Florida Gulf Coast University coach Andy Enfield addressed reports of his vast wealth.
"I still have to work," Enfield told ESPN's Tom Rinaldi on Monday afternoon.
Scores of publications and news outlets reported that Enfield was a co-founder of health care business information firm TractManager, and that the company was worth $100 million. It was then inferred by many that Enfield, making $157,000 at FGCU, was independently wealthy. Enfield has not revealed how much money he has made off the company or how much he still has invested.
After it was reported on ESPN on Monday that Enfield's story circulating in the media wasn't entirely accurate, the company's founder, Tom Rizk, said he started to get calls.
"I have no idea where that $100 million number came from," Rizk said. "It didn't come from our organization."
Rizk volunteered that the private company is worth more than that, while also confirming that Enfield's piece of the business "makes up a small percentage."
"He was part of our company, he made a modest investment, he cashed out some of his stake and he still retains a small piece," said Rizk of Enfield, who was among the first group of employees, but was not a founding partner. "But, at least by my definition, he is not independently wealthy."
Rizk said he doesn't believe Enfield, who was the company's vice president of finance, participated in the inaccurate portrayal of his financial situation.
"When a story spirals like it did, it's not easy for someone who isn't experienced in this world to correct those things," Rizk said.
Rizk, who met Enfield after his son Geoff attended the coach's basketball camp, said that he had no doubt that when Enfield got back into coaching he'd be successful.
"I knew when he took the Florida Gulf Coast job that he would have success early in his career," Rizk said. "That the team would win the conference championship, that they'd go to the NCAA tournament. Andy works in a way where he sees a situation and finds a solution. He puts a plan together and then executes it. That's the way he runs his business life and I suspect his personal relationships as well."