- Sports Talk Florida - http://www.sportstalkflorida.com -
Schiano Owes Rutgers $800,000
Posted By 1080 The Team On January 30, 2012 @ 9:17 AM In NFL | No Comments
Greg Schiano, who left Rutgers for the NFL’s Tampa Bay Buccaneers on Thursday, owes the school $800,000 in buyout and loan payments, Bloomberg News reported Friday.
Schiano owes Rutgers a $500,000 contract buyout, in addition to $300,000 remaining on a home loan arranged in his most recent contract, school athletics spokesman Jason Baum said, according to the report.
The $800,000 home loan was forgiven at a rate of $100,000 for every year Schiano stayed with the team.
Rutgers paid Schiano about $2.3 million per year on a contract running through 2016, in addition to performance and academic performance bonuses and a side deal that paid him $250,000 through a sports marketing firm.
Source: ESPN 
Article printed from Sports Talk Florida: http://www.sportstalkflorida.com
URL to article: http://www.sportstalkflorida.com/schiano-owes-rutgers-800000/
URLs in this post:
 Source: ESPN: http://espn.go.com/college-football/story/_/id/7511806/greg-schiano-owes-rutgers-scarlet-knights-800000-accoridng-report
Copyright © 2011 ESPN Florida. All rights reserved.