Report: Schiano owes Rutgers $800,000

January, 27, 2012
1/27/12
9:02
PM ET
Outgoing Rutgers coach Greg Schiano owes the school $800,000 in buyout and loan payments, according to Bloomberg News.

His contract calls for a $500,000 buyout, and there is $300,000 remaining on a home loan that also was arranged through his contract.

Schiano was officially introduced as the new coach of the Tampa Bay Bucs on Friday. He reportedly signed a five-year deal worth around $15 million.

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