Greg Schiano’s Contract Perks Are Crazy
Greg Schiano brought the Rutgers Scarlet Knights football program to national prominence from 2001-2011, so everyone is giddy with anticipation for his return for the 2020 season. There was a brief back-and-forth, will-he-or-won't-he period where it seemed like Schiano's contract demands were too high for Rutgers. I'd love to see what those demands they were, and how high they could possibly have been, because the perks he IS getting are pretty insane.
Schiano signed an eight-year, $32million contract - that $4mil per year makes him the third highest-paid state employee in the history of New Jersey.
Schiano will have an annual auto stipend of $15,000, but he has to pay for gas, insurance, repair, repair and maintenance.
He will also have an annual "apparel allocation" totaling $5,000.
Rutgers will pay initiation fees and monthly dues for a country club membership.
Schiano will be given use of a private box or suite at all home games in addition to 20 premium-level tickets and parking passes. He also gets 12 tickets to all road games and either a private suite or box or 24 premium-level tickets to any postseason game.
Schiano will be allowed to use private planes for recruiting purposes. He can also fly first-class on commercial airlines for other university business (but if additional private funding is available, he will be able to use private planes for that, too). The coach’s wife and immediate family are entitled to fly free on team charters to all away and postseason games.
Even if Schiano gets fired, he'll get 76.875% of his remaining salary. This means if he gets fired tomorrow, literally before he even steps on the field, Rutgers will have to pay him $24,600,000.
If Schiano quits before Dec. 1, 2020, he’ll owe Rutgers $8 million. That buyout figure decreases over time, so if he quits during the final three years, he’ll have to pay back $1 million.
Rutgers will provide Schiano with temporary housing for up to 60 days plus temporary transportation and a maximum of two flights to New Jersey for the purpose of purchasing a home. Schiano will receive up to $25,000 in relocation expenses.
Sigh. While $15k for a car isn't anything, why does he possibly need $5 for clothes? How many pairs of khaki pants does one man need?
That's not it, by the way - check out the performance bonuses that are worked into the contract:
- $100,000 bonus if Rutgers wins the Big Ten East and plays in the conference final
- $200,000 if Rutgers wins the Big Ten playoff final
- $75,000 for a non-College Football Playoff “Group A” bowl game appearance and $75,000 for winning the bowl game (the Belk, Music City and Quick Lane Bowls are considered “Group A”)
- $100,000 for appearing in a "Group B" non-CFP bowl game, and $100,000 for winning it
- $150,000 for appearing in a New Year’s Six bowl game and another $150,000 for winning one
- $200,000 for qualifying for the College Football Playoff, $250,000 for appearing in the national title game and $350,000 for winning it
- $100,000 bonus if he is named Big Ten coach of the year and another $100,000 if he is named national coach of the year by one of nine specific outlets named in the contract
- $100,000 bonus if Rutgers finishes in the final CFP Top 25 at the end of the season and $150,000 if in the top-15
- Up to $200,000 annually in season ticket sales incentives. He earns a $50,000 bonus when Rutgers hits 20,000, 24,000, 28,000 and 32,000 season tickets sold
- $25,000 bonus for Rutgers having a multi-year APR of 960 or above beginning with the 2020-21 school year. He will earn an additional $25,000 if Rutgers is among the top-10 nationally in APR
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