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Rutgers wants Greg Schiano to help raise tens of millions of dollars for school’s new football complex
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Rutgers and Greg Schiano were going back-and-forth about terms within his new contract to become the head coach for quite a while. One of points of emphasis likely revolved around a new football complex.
Schiano knows that Rutgers needs one if it wants to truly compete in the Big Ten. If it doesn’t get that, then the Scarlet Knights will never move from the bottom of the conference. That’s just a reality.
He knows it and Rutgers knows it.
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That said, Schiano will have a chance to get the new football complex he desires. The only issue?
He’ll have to help raise money for it.
The full terms of Schiano’s contract haven’t been released yet. A board meeting is said to be held on Tuesday to vote on the contract. Then, it will become public knowledge.
“But according to language described by a source with knowledge of the negotiations, a compromise was worked out between the university and Schiano over his call for major upgrades in the school’s football facilities that nearly killed the deal to hire him,” wrote Ted Sherman of nj.com.
“In that agreement, the Rutgers said at least half of the cost of the expected $150 million project would have to be raised from private sources before Rutgers commits to building it. And Schiano will be expected to bring in a large chunk of that money, along with Rutgers Athletic Director Pat Hobbs, according to the language of the proposed terms that led to the agreement.”
If the project itself is expected to cost around $150 million, Schiano is likely going to need to raise tens of millions of dollars in order to make his dream become a reality.
“As Head Coach, you will aid and assist the Director in efforts to obtain private funding commitments to cover the final projected cost of said facilities,” according to the language (of the proposed terms that led to an agreement between Rutgers and Schiano).
This is a lot for Schiano to take on. That said, this is a massive investment that Rutgers is putting into its football program if it all works out.
Want to compete in the Big Ten? It’s going to cost you.
Very soon, we will see exactly how much Rutgers wants to try and compete in the B1G.
Kevin covers Big Ten football for Saturday Tradition.