Well, it took until December 1st, but Rutgers appears to have their man.
In announcing the pending hire this morning, AD Pat Hobbs said, “The next great chapter for Rutgers Football is about to begin….I believe today that Rutgers Football is on the path to greatness.”
By now everyone knows the score. Greg Schiano, the object of the Knights’ fascination dating back months, publicly pulled out of negotiations last Sunday, and the reaction was so swift and violent that it forced Rutgers back to the negotiating table.
The guys at NJ.com first reported that the two sides have reached an agreement in principle (which still has to be approved by the Board).
Yahoo Sports’ Pete Thamel reported shortly thereafter that, “Schiano’s deal is expected to be what was discussed prior to talks breaking down – eight years at $32 million.”
NJ.com got its hands on the term sheet circulated among the Rutgers board of governors (when their original talks broke off), and here’s what Schiano wanted at that time to take the Rutgers job:
— An 8-year contract worth $4 million per year, with $400,000 retention bonuses after Years 4 and 6.
— A buyout starting at $25.2 million.
— The freedom to walk without penalty if the school did not improve its football facilities by 2023.
— Unlimited private jet use.
— A staff salary pool starting at $7.7 million, increasing by at least 3 percent per year.
— Other standard bonuses and perks common to coaching contracts at the Power 5 level.
Rutgers, according to the site, originally offered Schiano a 6-year contract worth an average of $4 million a year, so Schiano’s camp is partially right in saying it wasn’t about the money.
The school has called a “special meeting” of its board of governors for 10 a.m. ET Tuesday, where the lone agenda item is the employment contract of a new head football coach.
FootballScoop originally broke the news (in September) that Schiano stepped down from his role as defensive coordinator with the Patriots to make himself available for just this opportunity.
ICYMI: Sources: Greg Schiano left Patriots to return to Rutgers https://t.co/YrzEXtoZCE
— FootballScoop Staff (@FootballScoop) September 30, 2019
As always stay tuned to The Scoop for the latest coaching job information.
Link to Yahoo Sports article.