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Buckeye Jeaux
LSU Fan
Member since May 2018
9958 posts

Schiano hired at Rutgers - Contract Details
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.



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This post was edited on 12/3 at 11:07 am


TrueLefty
Missouri Fan
St. Louis County
Member since Oct 2017
2490 posts

re: Schiano hired at Rutgers - Contract Details
I wanted him at Mizzou!


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43
rebelrouser
Furman Fan
Columbia, SC
Member since Feb 2013
4565 posts

re: Schiano hired at Rutgers - Contract Details
Good for Rutgers. That is how you sign your guy on your terms.


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80
TigersSEC2010
Mesa, AZ
Member since Jan 2010
32071 posts

re: Schiano hired at Rutgers - Contract Details
quote:

he will be paid 76.875% of his remaining salary


How did they come up with this number?


Bench McElroy
Member since Nov 2009
29088 posts

re: Schiano hired at Rutgers - Contract Details
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.


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80
RuLSU
Rutgers Fan
Chicago, IL
Member since Nov 2007
6402 posts

re: Schiano hired at Rutgers - Contract Details
Schiano also gets an assistant pool of $7.7M for staff and analysts.

Should help him get a good group of assistant coaches.


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80
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USA
Member since 2001
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jb4
Arkansas Fan
Member since Apr 2013
9943 posts

re: Schiano hired at Rutgers - Contract Details
WE wed a Rutgers - Tennessee bowl game


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20
Cash
SMU Fan
Vail
Member since Feb 2005
35528 posts

re: Schiano hired at Rutgers - Contract Details
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.


Mud_Till_May
USA Fan
Member since Aug 2014
6040 posts

re: Schiano hired at Rutgers - Contract Details
I would eat shite every day for a 32 million dollar contract.


JEAUXBLEAUX
LSU Fan
Bayonne, NJ
Member since May 2006
54470 posts

re: Schiano hired at Rutgers - Contract Details
New Jersey public really wanted him back. Bring the state team up to mediocrity. Recruit like hell snd keep local kids here.


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GeauxColonels
Nicholls St. Fan
Tottenham Fan | Nicholls St Fan
Member since Oct 2009
24073 posts

re: Schiano hired at Rutgers - Contract Details
quote:

How did they come up with this number?

$24.6 million divided by $32 million


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