Used as a verb: To take something previously in great condition and completely screw it up upon arrival. Most commonly used in terms of the sport of college football in regards to taking over a good team, and be a very poor coach, and after losing to vastly inferior opponents.
Also used as a verb in terms of sports to denote incompetence.
Alternate spellings: Krag'ed, Kragcooper'd.
"Damn, I thought we had an awesome team this year but I guess we just got Kragthorpe'd"
"Man, our football team really got Krag'ed up the butt this year."
"We had a BCS team but we got Kragthorpe'd out of winning anything this year."