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Schiano hired at Rutgers - Contract Details
Posted on 12/3/19 at 11:05 am
Posted on 12/3/19 at 11:05 am
quote:
Schiano signed an eight-year, $32 million deal, but it is not fully guaranteed. He was asking for a full guarantee when talks originally fractured. The retention bonuses from the original deal - $400,000 every two years - are also out.
Schiano will make $4 million a year. If he is fired without cause at any point in the contract, he will be paid 76.875% of his remaining salary; the payout from that point will not exceed $24.6 million. Schiano’s buyout to break the contract begins at $8 million if he leaves Rutgers prior to Dec. 1, 2020, and it decreases as the contract progresses. Schiano will have a $6 million buyout in his second season, a $4 million buyout in his third, a $3 million buyout in his fourth and a $2 million buyout in his fifth. Schiano will have a $1 million buyout for the final three years of the deal.
LINK
This post was edited on 12/3/19 at 11:07 am
7
Posted on 12/3/19 at 11:06 am to Buckeye Jeaux
I wanted him at Mizzou!
Posted on 12/3/19 at 11:09 am to Buckeye Jeaux
Good for Rutgers. That is how you sign your guy on your terms.
Posted on 12/3/19 at 11:18 am to Buckeye Jeaux
quote:
he will be paid 76.875% of his remaining salary
How did they come up with this number?
Posted on 12/3/19 at 11:34 am to Buckeye Jeaux
quote:
Schiano signed an eight-year, $32 million deal, but it is not fully guaranteed
That's the exact same contract Saban got 12 years ago when he was hired by Bama. I remember people being bowled over by that contract at the time and now it gets a collective shrug of the shoulders. College football has changed.
Posted on 12/3/19 at 12:09 pm to Buckeye Jeaux
Schiano also gets an assistant pool of $7.7M for staff and analysts.
Should help him get a good group of assistant coaches.
Should help him get a good group of assistant coaches.
Posted on 12/3/19 at 1:00 pm to Buckeye Jeaux
WE wed a Rutgers - Tennessee bowl game
Posted on 12/3/19 at 1:03 pm to Buckeye Jeaux
quote:
. If he is fired without cause at any point in the contract, he will be paid 76.875% of his remaining salary; the payout from that point will not exceed $24.6 million.
Honestly that sounds very fair for both sides.
I hope he kills it in round 2 at Rutgers and makes Tenn look even worse.
Posted on 12/3/19 at 3:28 pm to Cash
I would eat shite every day for a 32 million dollar contract.
Posted on 12/3/19 at 6:40 pm to Mud_Till_May
New Jersey public really wanted him back. Bring the state team up to mediocrity. Recruit like hell snd keep local kids here.
Posted on 12/3/19 at 7:26 pm to TigersSEC2010
quote:
How did they come up with this number?
$24.6 million divided by $32 million
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