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Jim Donnan reaches proposed deal

Updated: June 24, 2012, 3:46 AM ET
Associated Press

ATHENS, Ga. -- Former University of Georgia football coach Jim Donnan has agreed to a proposed bankruptcy settlement with a West Virginia company and investors who say the ex-coach owes them $40 million lost in a Ponzi scheme, according to documents filed in federal court.

The deal would require Donnan to repay $7.35 million to retail liquidation company GLC Limited, which says it's owed more than $13 million by the ex-coach. Donnan would also agree to repay 80 percent of the losses of investors ...

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