Mike Rice is out at Rutgers. And though he somberly apologized for his behavior, it’s not all somber for Rice financially. Because despite losing his job amid a lot of controversy, Rice is in line to receive a pretty hefty bonus for making it through the 2012-2013.
And by “pretty hefty bonus”, we mean a $100K bonus.
Fired Rutgers basketball coach Mike Rice is due a $100,000 bonus for lasting through the season.
Rice was paid $622,500 last year under a deal that also included bonuses for winning games and graduating players. His five-year contract called for a $100,000 bonus if he completed the 2012-13 season.
Athletic department spokesman Jason Baum says the bonus will be paid because it’s contractually obligated.
Want to hear the funny part about all this? Rice wouldn’t be owed the bonus if Rutgers had fired Rice in December. Which just so happens to be when the university was shown the video, but decided to only suspend Rice for 3 games.