Schiano’s Secret Money

At the very same time that Rutgers is imposing dramatic increases in tuition and fees on the students who are the poor saps stuck with the tab, the athletic department has found a backdoor route to funnel an extra $250,000 to Coach Greg Schiano, the now $2 million man, reports the Star Ledger.

What’s staggering is that real teachers are facing layoffs as the school wrestles with a reduced state budget — and yet there is no end to the good times for Schiano, the coach with a lifetime losing record. Talk about an overpaid under-achiever!

Incredibly, the $250,000 was paid to a shell corporation created by Schiano, presumably as a sponge to soak up off the book Rutgers monies.

It’s not just us who are stunned by these developments. Reports the Ledger, in a story headlined, “Part of Rutgers’ deal with coach was disguised:” “The $250,000 payment was questioned earlier this year by university auditors who criticized the athletic department, saying the way the deal was structured showed a lack of transparency.”

Rutgers leadership, for its part, apparently feels no shame for its conniving. Reports the Ledger: “Rutgers athletic director Robert Mulcahy said the university was simply ‘being a little resourceful’ in the way it structured the deal.”

And there’s more: “The additional compensation was one of three contract changes not made public last year,” reports the Ledger. Classrooms are decaying, teachers are facing layoffs, academic standards keep eroding — but the money gusher for a mediocre football program remains on full.

What else is Mulcahy III hiding from the university community?

Somehow we don’t think the students who are forced to scramble to come up with still more money to pay for a diminished Rutgers education will be amused by Mulcahy III’s “resourcefulness.”

Rutgers’ reputation, meantime, lies in tatters as reports of this Schiano-Mulcahy III financial chicanery burn across the news wires. From Wausau WI to Spokane WA to Long Island, the Rutgers name today means dirty little accounting tricks, nothing more.

University president Slick McCormick, for his part, shrugs all this off, Reports the Ledger: “If you want to have an outstanding program — and it was determined a long time ago that Rutgers wanted to do that — then you have to pay the price,” he said. “You’ve got to pay to play, pardon the New Jersey expression.”

Does this also mean Slick McCormick will condone under the table payments to football players because, well, other schools do it? Talk about a slippery slope. Except Slick has fallen down it very hard, into the gutter of life.

If there was nothing wrong with the extra $250,000 payment to Schiano, why did it have to be disguised?

It is time to fire Mulcahy III. We tremble at the prospect of the additional “resourceful” actions by this AD that will be discovered in the months ahead.

And it is time to fire Slick McCormick.  His very words above demonstrate his manifold inadequacies — ethically and intellectually.  He is no leader and, at this perilous moment in its history, Rutgers needs leadership.  And that will never be Slick McCormick.

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2 Responses to Schiano’s Secret Money

  1. Grumpy alum says:

    I just read the article. If true (which grim experience alone would indicate), this is an utter disgrace. How much graft and wasted monies does this administration and this athletic director have to pile up before they are removed from their positions? I feel myself full of both shame and anger. I give to this university, and this is how they treat alumni and current students? By stealing money from students to funnel it through a backdoor route to a football coach? Utterly disgusting, and well done for posting this and helping shine a light in these dark corners of Rutgers. What else is there? Are we just scraping the surface of this corruption?

  2. RUFB says:

    What are you talking about “well done for posting this and helping shine a light in these dark corners of Rutgers”? Whoever writes this blog just regurgitates whatever they read in the SL or NYT and adds their own irrelevant commentary.

    By the way, I like how you blog repeated comments by anyone other than Grumpy. That’s pretty fair.

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