Read Greg Schiano's Contract As Rutgers Football Coach

NEW BRUNSWICK, NJ — It's official: Greg Schiano was unanimously approved Tuesday by the Rutgers University Board of Governors to return as the head coach of Rutgers football.

His contract will be $32 million for eight years. If he leaves early for another coaching job, he'll owe Rutgers an $8 million penalty; that number gets progressively smaller as the contract goes on. But if Rutgers fires him without cause, he'll still be entitled to receive a maximum payout of $24.6 million. This is all according to the terms of Schiano's contract, never released to the public until now; read it in full below.

Making $4 million a year, Schiano is in the middle of the road for coaches in the Big Ten (the conference Rutgers is in), with University of Michigan's Jim Harbaugh making $7.5 million a year and the Indiana coach making $1.8 million a year.

Schiano was the head coach of Rutgers football from 2001-11, and he led the program to new heights: Under his coaching, the Wyckoff native directed the Scarlet Knights to six bowl appearances and coached 83 RU players who signed NFL contracts, including first-round picks in Kenny Britt (2009), Anthony Davis (2010) and Devin McCourty (2010). He also guided the program to the top APR score in the nation during his previous 11 seasons in Piscataway. He was named the 2006 National Coach of the Year.

At Schiano's request, Rutgers is also building a new football operations center and adjoining multi-sport indoor practice facility. As he is tasked with making Rutgers a winner in the Big Ten conference, Schiano had bemoaned the current Rutgers football playing facilities and said they need to be improved if he came back.

However, the cost of that, estimated at $150 million, will be raised through private fundraising, and not university funds.

“This program will be built on a rock foundation,” said Schiano in a statement after he was re-hired on Tuesday. “It will take longer than building it on stilts, but when it’s built, it will be built forever. This is where I started; this is where I was striving to get back to. I’m thrilled to be here. It’s time.”

Obtained by Patch, here are the full terms of his contract with Rutgers. Under these terms, Schiano is the highest paid coach in Rutgers history, and among the highest paid college football coaches in the nation. Until today, his contract has never been made publicly available:

Salary

The term of employment will encompass eight years, and will be in effect from November 30, 2019 through February 28, 2028.

Schiano will receive a base salary of $4 million per year in an eight-year contract (equivalent to $333,333.33 per month), plus bonuses based upon achievement of annual performance and academic incentives. That's $32 million in total, but it is not guaranteed: If he is fired without cause at any point, he will still receive 76.875 percent of his remaining base salary. The first $4 million in the first year is guaranteed.

Schiano originally wanted to be paid a retention bonus — $400,000 every two years — but he did not get that, NJ.com reported.

Annual Performance Bonus Incentives:

Schiano will have the opportunity to earn bonuses based on the performance of the team.

Conference Championship Game (noncumulative):

• Big Ten Conference Championship Participant - $100,000
• Big Ten Conference Championship Winner - $200,000

Post Season Bowls (when team finishes with a win-loss percentage at or above .500):

• Non-College Football Playoff Bowl Appearance (Group A Bowls): $75,000
• Non-College Football Playoff Bowl Win (Group A Bowls): $75,000
• Non-College Football Playoff Bowl Appearance (Group B Bowls): $100,000
• Non-College Football Playoff Bowl Win (Group B Bowls: $100,000

College Football Playoffs:

• New Years’ Six Bowl Appearance: $150,000
• New Years’ Six Bowl Win: $150,000
• CFP Semifinal Game Appearance $200,000
• CFP National Championship Game Appearance $250,000
• CFP National Championship Title $350,000

Bonuses he'll get if he wins coaching awards:

• Big 10 Coach of the Year (as selected by the conference): He gets $100,000
• National Coach of the Year (noncumulative): He gets $100,000

Any of the following awards shall qualify: Eddie Robinson, Walter Camp, Bobby Dodd, Bear Bryant, Associated Press, AFCA, Home Depot, Sporting News or Maxwell (George Munger)

In each contract year in which the team finishes in the Top 25 of the final College Football Playoff poll (following all bowls and playoff games), Rutgers will pay him a bonus in the amount of $100,000, or if under the same terms, the team finishes in the Top 15, a bonus of $150,000, whichever is higher.

Bonuses he'll get for ticket sales (maximum $200,000):

• Season tickets sold above 20,000: He gets $50,000
• Season tickets sold above 24,000: He gets $50,000
• Season tickets sold above 28,000: He gets $50,000
• Season tickets sold above 32,000: He gets $50,000

Annual Academic Bonus Incentives
Schiano will have the opportunity to earn bonuses listed based on the academic achievement of the football program:

• $25,000 for team multi-year APR of 960 or above, as determined by the NCAA based-upon data.
• $25,000 for team multi-year APR ranking within the 10 highest among NCAA Division I football programs

Car stipend

An annual automobile stipend of $15,000, which he may use for the purchase or lease of a vehicle. He will be responsible for all fuel, insurance, repair and maintenance expenses

Athletic Apparel - $5,000 in team gear
He will be entitled to an annual allocation beginning July 1, 2020 of $5,000 retail value from the university’s team apparel supplier.

Private suite or box for games, plus a country club membership

Tickets
At Schiano's request, he will be provided use of a private suite or box (including admission for up to 20 guests), 20 premium-level tickets and 20 premium parking passes to all Rutgers home football games. Also at his request, he will also be provided with 12 tickets to each away football game. In the absence of a private suite or box, he will also be provided 24 premium (i.e. club) or priority-level tickets to any post-season bowl game the team participates in.

Country Club
A club membership (including initiation fees and monthly dues) suitable for the development duties of the position, to be mutually agreed on by him and the university following discussion with him, shall be provided. (This is ostensibly so Schiano can fundraise the money to build the new football facilities.)

Relocation expenses

He will be reimbursed for relocation expenses, subject to IRS regulations and university policy. If he requires it, Rutgers will provide temporary housing for a period of 60 days from his hire date, temporary transportation and maximum of two flights to New Jersey for the purpose of purchasing a home. In addition, he will receive an expense payment equal to $25,000 for the purpose of covering any additional ancillary expenses related to his relocation.

Private plane travel for his family

Schiano's spouse and immediate family will be authorized to fly to away-game contests on team-chartered travel, including post-season, at no cost to him.

He will be entitled to use private air transportation for recruiting purposes, and, if private funding is available, for other required university travel. In the event such private funding is not available for required university travel, he will be entitled to first-class travel on a commercial airline.

Staff Compensation (Base Salary)

The salary pool for staff salaries will be initially set at $7,700,000, such amount to increase by not less than 3 percent annually. Schiano will determine after consultation with Hobbs the distribution of this pool to staff (staff shall not include medical trainers or the three non-contracted secretarial staff that support football).

Should Schiano quit: The buyout, or what Schiano will have to pay Rutgers if he leaves early for another coaching job:

Schiano will be permitted to terminate his employment without cause at any time, upon written notice to the University. However, if he terminates employment and accepts any head coaching position with an intercollegiate or professional team, Rutgers shall be entitled to receive from him liquidated damages as follows:

• $8,000,000 in the event termination occurs prior to December 1, 2020
• $6,000,000 in the event termination occurs prior to December 1, 2021
• $4,000,000 in the event termination occurs prior to December 1, 2022
• $3,000,000 in the event termination occurs prior to December 1, 2023
• $2,000,000 in the event termination occurs prior to December 1, 2024
• $1,000,000 in the event termination occurs on or after December 1, 2024

Should he be fired without cause:

In the case of termination without cause by the university (which shall be by written notice to Schiano), Rutgers will continue to pay him an amount (not to exceed $24,600,000) equal to 76.875 percent of the head coach’s total remaining annual base salary.

Facilities Review
In order to successfully compete in the Big Ten Conference in the sport of football, the university acknowledges that a new football operations center and adjoining multi-sport indoor practice facility would be both necessary and desirable.

As head coach, Schiano will aid and assist Hobbs in efforts to obtain private funding commitments to cover the final projected cost of said facilities (estimated at $150 million). Upon reaching a private funding commitment level of at least fifty percent (50 percent) of the total projected cost, the university agrees that it shall initiate the building process.

How does Schiano's salary compare to other Big Ten schools?

Schiano's $4-million yearly salary actually puts him right in the middle of the other colleges in the Big Ten conference. From the Minneapolis Patch, here's how all Big Ten football coach salaries stacked up in 2019:

1. Michigan, Jim Harbaugh: $7,504,000 a year (Buyout: $11,687,500)
2. Purdue, Jeff Brohm: $6,600,000 a year (Buyout: $27,650,000)
3. Penn State, James Franklin: $5,650,000 a year (Buyout: $16,495,833)
4. Northwestern, Pat Fitzgerald: $5,144,937 a year (No buyout listed)
5. Nebraska, Scott Frost: $5,000,000 (Buyout: $20,416,667)
6. Iowa, Kirk Ferentz: $4,800,000 (Buyout: $21,571,250)
7. Ohio State, Ryan Day: $4,500,000 (Buyout: $18,750,000)
8. Michigan State, Mark Dantonio: $4,399,437 (Buyout: $7,000,000)
9. Wisconsin, Paul Chryst: $4,150,000 (Buyout: $14,993,055)
10. Illinois, Lovie Smith: $4,000,000 (Buyout: $4,681,818)
11. Minnesota, P.J. Fleck: $3,600,000 (Buyout: $9,291,667)
12. Maryland, Mike Locksley: $2,500,000 (Buyout: $7,502,084)
13. Rutgers, Chris Ash: $2,300,000 (Dismissed this season)
14. Indiana, Tom Allen: $1,805,000 (Buyout: $1,500,000)

Provided by Rutgers University to Patch, here is a copy of the memorandum of understanding (MOU) signed by Greg Schiano and Rutgers on Tuesday, Dec. 3. This document is essentially his contract:

And here is the board resolution officially hiring him on Tuesday:

Read: 2019 Big Ten Coaching Salaries, Buyouts