Payne, for his part, said he and the board have "stayed completely away" from the new sports rights contract.
"John Raese has had a very lucrative deal up there with West Virginia Radio and he is trying to protect it," Payne said.
Payne said the contract that is being negotiated between WVU and IMG would net the university $5 million more a year than the university's current contract with Raese's company.
"He is sitting there trying to destroy me for something I have nothing to do with that the university is making $5 million more a year on," Payne said.
But Payne did appear to have some knowledge of the relationship among West Virginia Media, WVU and IMG.
For instance, Payne said Raese's radio network could still end up involved in the IMG deal - if only because Raese happens to own a bunch of radio stations across the state.
"You've got to have radio involved and they've got all the radio stations," Payne said, referring to Raese's company. "I don't know why they'd jump my ass for something."
Payne said West Virginia Media decided not to bid on the whole package because they were going to try to partner for a piece of the larger contract with whoever won it - in this case, the winner is likely to be IMG.
Asked why he did not dump his interest in the privately held company to avoid the appearance of a conflict, Payne said, "I don't have anybody to sell it to."
Payne said he welcomed any examination of the deal.
"Hell, they can take Booth Goodwin up there," Payne said, referring to the federal prosecutor in the southern part of the state. "They can put people under oath as far as I'm concerned."
Cary did not reply to an email seeking comment.