Schiano's secret escape clause

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Rutgers University made a secret deal allowing the head football coach to walk away from his contract without penalty if it did not complete a major expansion of its football stadium by 2009. Under his current agreement, Greg Schiano is required to pay $500,000 for breaking his 10-year contract if he leaves following the 2009 football season. However, an addendum to that contract, never divulged by Rutgers, releases him from those same damages if the construction is not completed on time. The stadium side deal, outlined only Tuesday night by university president Richard L. McCormick, was the latest revelation about a series of undisclosed sweeteners the state university offered Schiano in an effort to retain the sought-after coach.

Newark Star-Ledger

Greg Schiano, Gregory Shamus/Getty Images Greg Schiano, Gregory Shamus/Getty Images
July 24, 2008  08:04 AM ET

This T&R photo brought to you by Sprint's new MEGA-STRENGTH jowel holders.

July 24, 2008  08:24 AM ET

But does he get to keep the helicopter?

July 24, 2008  08:51 AM ET

He should have taken the Miami job....Go Canes!!

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July 24, 2008  09:42 AM ET

Is that Schiano's secret escape clause written on Out On Bail's avatar?

July 24, 2008  09:49 AM ET

He is just waiting for the Penn State gig to open up and then he is gone!!!

July 24, 2008  10:42 AM ET

OK two things, Star Ledger Rutgers football beat-writers are having their lives made a lot harder in coming weeks with this stuff coming out (this week-long series on RU in the Star Ledger is not being written covered by the sports department).

And the second, cheetoBoy, you are one hundred percent correct. That's what makes this whole thing so so so sad for Rutgers fans, Rutgers students and professors, and New Jersey residents in general.

July 24, 2008  11:02 AM ET

He's holding open the door for when Paterno retires.

July 24, 2008  11:03 AM ET

So basically he's keeping the door open for when Paterno retires.

July 24, 2008  12:04 PM ET

He's holding open the door for when Paterno retires.
Spider Rico | 07/24/08, 11:02 AM
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So basically he's keeping the door open for when Paterno retires.
Spider Rico | 07/24/08, 11:03 AM

and just in case you didn't get it after the first to editions:

when joe paterno leaves penn state, schiano will go there.

hope this helps.

July 24, 2008  12:05 PM ET

if he leaves F him...then all the bandwagon riders can take the giant red R's off their cars...the same red R's that didn't exist as recently as 3 years ago...

July 24, 2008  01:06 PM ET

So are you trying to say he is going to Penn State when Joe Pa retires?

July 24, 2008  01:28 PM ET

Penn State is a dump. I can't wait till Paterno leaves so it becomes an even bigger toilet than it is right now.

July 24, 2008  01:53 PM ET

yeah penn states a dump, sure. Wait which university is located in North Dirtball Jersey?

July 24, 2008  01:56 PM ET

If he didn't go to Miami, and he didn't go to MIchigan, where is it a given that he is PSU bound? Earlier this summer RU tried to put the stadium's expansion on hiatus. Where would this leave him? This is NOT a loop hole for him to escape when JoPa retires, this is a guarentee that RU won't pull the plug on their football ambitions and leave him holding his you know what.

July 24, 2008  05:25 PM ET

I stated earlier, Coach Schiano only turned down the Michigan job because he had his eyes on PSU. Rutgers cracked the door open with this stadium deal falling short-should get very intresting. PSU fans and alumni should be thrilled that they have a chance of getting Coach Schiano. Will the "great" recruits stay with rutgers?

July 24, 2008  05:27 PM ET

Keeping It Real, you're either not a New Jersey resident or you're a Jersey guy not paying attention to the fact our state is going down the toilet fiscally. Read the state's only respectable newspaper left everyday, The Star Ledger from front to back to see what's going in NJ's urban areas, as well as at Rutgers.
You have Rutgers cutting classes out of semesters, taking courses away from professors, and raising tuition - and at the same time overextending themselves with this stadium plan.

In the back of their minds RU's president and AD knew full well this might not go through (have you seen the price of fuel, concrete, and other supplies lately during this dam-near depression we're in?).

So no this is not a guarantee they won't pull the plug, it is exactly Schiano's loop hole to escape after the 2008 season and be in PSU in 2009. I hope I'm wrong because despite not being a big Rutgers fan it is good to see them finally improving, and I do think Schiano is one hell of a coach.
But I also am a realist here.

By the way, as a USC fan, I fully realize Pete Carroll could be off to the NFL at any moment too.
It's the business - $$$$$$$$ rules everything in this. Loyalty to a fanbase is nonexistent. Take a look at Petrino and Saban.

July 24, 2008  05:30 PM ET

By the way GO RU..... Please stop walking into rapid fire in these comments each day by calling other places dumps. There's no bigger cess pool in America than the arm pit of the East Coast, New Jersey, where I was born, raised, and still trapped.

July 24, 2008  05:31 PM ET

Keeping it Real-totally disagree! He only turned down Miami and Michigan because he had his eyes on PSU. If you don't think that PSU hasn't had "informal" talks with Coach Schiano then I believe your fooling your self-only my thoughts.

 
July 24, 2008  05:35 PM ET

So rumor has it Schiano is going to Penn State huh... you know the T&R ppl are reading these posts and will put out an article about this rumor now... probably by tomorrow.

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