On Tuesday afternoon the Rutgers Board of Governors met to vote on and approve the contract of Greg Schiano to become the university's next head football coach.
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Here is a quick look at the details within the contract.
SALARY: 8 year deal / $32 million
ASSISTANTS / SUPPORT STAFF / S&C STAFF SALARY POOL: $7,700,000 (No less then 3% Increase annually)
FACILITIES: Upon reaching a private funding commitment level of at least 50 percent of the total project cost, the university agrees it shall initiate the Board of Governors Finance and Facilities Committee approvals process in which shall the athletics department's proposed strategy to fund the debt service on any remaining cost applicable to the aforementioned project.
INCENTIVES:
Big Ten Championship appearance: $100,000
Big Ten Championship winner: $200,000
Group A Bowl appearance: $75,000
Group A Bowl victory: $75,000
Group B Bowl appearance: $100,000
Group B Bowl victory: $100,000
New Year's Six Bowl Appearance: $150,000
New Year's Six Bowl Victory: $150,000
CFP Semifinal Appearance: $200,000
CFP National Championship Game Appearance: $250,000
CFP National Championship Game Victory: $300,000
**Group A bowls include Quick Lane Bowl, Belk Bowl and the Music City Bowl or their successors.**
**Group B includes any bowl not listed above**
COACH OF THE YEAR AWARDS
Big Ten Coach of the Year: $100,000
National Coach of the Year: $100,000
**National COTY includes Eddie Robinson, Walter Camp, Bobby Dodd, Bear Bryant, Associated Press, AFCA, Home Depot, Sporting News or Maxwell (George Munger)**
SEASON TICKET SALES INCENTIVE:
Season Tickets sold above 20,000: $50,000
Season Tickets sold above 24,000: $50,000
Season Tickets sold above 28,000: $50,000
Season Tickets sold above 32,000: $50,000
PERSONAL TICKET REQUEST:
-- Private suite or box (Up to 20 guests) to each home
**In absence of suite or box, Rutgers will provide 24 premium tickets to any bowl game**
-- 20 premium level tickets to each home
-- 20 parking passes to each home
-- 12 tickets to each away game
EXTRAS
AUTO STIPEND: $15,000 annually, which may be used for purchase or lease.
APPAREL STIPEND: $5,000 annually from the team's retail provider (Adidas)
COUNTRY CLUB MEMBERSHIP: Bond funded by University.
FAMILY TRAVEL: Spouse and immediate family will be able to fly to away games and post season at no cost.
REIMBURSED RELOCATION FUNDS: Extra $25,000 for the purpose of covering additional ancillary expenses.
THE JET: Schiano will be entitled to use private air transportation for recruiting purposes and If private funding is available for other university travel. If funding is not there, he will be entitled to first class travel on commercial airlines.
SHOULD SCHIANO LEAVE, RUTGERS IS ENTITLED TO:
In the event termination occurs December 1, 2020: $8,000,000
In the event termination occurs before December 1, 2021: $6,000,000
In the event termination occurs before December 1, 2022: $4,000,000
In the event termination occurs before December 1, 2023: $3,000,000
In the event termination occurs before December 1, 2024: $2,000,000
In the event termination occurs after December 1, 2024: $1,000,000
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