Schiano Gets a 50% Pay Raise from Rutgers

But no Rest Stop named after him on the Jersey Turnpike (yet).

No, he isn't getting the kind of cash that Urban Meyer, Bob Stoops, Pete Carroll or Charlie Weis are getting. And if Bobby Petrino wasn't committing career suicide in Atlanta, it wouldn't pass what he was supposed to earn at Louisville.

Still it raises him over what he had after taking the Scarlet Knights to their second consecutive winning season -- can't tell you the last time (ever?) that happened off of the top of my head -- and their first ever bowl victory.

Rutgers University and head football coach Greg Schiano have agreed to a four-year contract extension that will run through the 2016 season, it was announced today by Director of Athletics Robert E. Mulcahy III. Under the new contract, Schiano's compensation will increase to $1.5 million per year.
Increased financial resources generated by the football program, including corporate sponsorships and record ticket sales, will fund the contract increase,

The four-year extension also includes three elements that reward longevity and show a mutual commitment by Rutgers and Schiano including a house loan funded by private donations and annual longevity bonus for Schiano. The contract also includes a buyout, which begins at $1 million.

Last year, Schiano earned somewhere just above $1 million/year. As previously predicted, the increased money the football team made were plowed right back into Schiano's new contract. Love that he got the house loan on top of it. Last year, as part of his re-worked contract, the school agreed to sell him the land for building the house he just got the loan to build -- much to the annoyance of local residents.

Schiano has earned it by building Rutgers from somewhere below Temple to a legitimate top-25 team. He has done it through dogged recruiting in NJ and mining Florida. Hmm. Why hasn't the NY Times and some unnamed mid-western university accused him of cheating? Obviously, Schiano has more work to do.