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Buccaneers Pay Rutgers $500K Buyout For Schiano

Feb 27, 2012 6:46 AM EST

The Buccaneers have paid Rutgers University a $500,000 installment on coach Greg Schiano's buyout.

The payment was made to the Rutgers Athletics Department because Schiano's Rutgers salary was part of the Athletics Department budget.

Schiano's Rutgers contract called for him to receive a $2.03 million salary in fiscal year 2011 and to pay the school a $500,000 buyout if he left before the contract expired on Dec. 31, 2016.

Via The Tampa Tribune