Rutgers University to Pay Mike Rice and Tim Pernetti Over $2M + Copies of RU Report on Mike Rice and Tim Pernetti Buy Out Terms
Saturday, April 6, 2013
"Embattled Rutgers athletic director Tim Pernetti was forced to resign today, just two days after head basketball coach Mike Rice got the ax.
"Neither will walk away empty-handed.
"Pernetti — under a settlement agreement obtained by The Star-Ledger — will be paid more than $1.2 million in return for his resignation. Under the terms of his contract, Rice is entitled to receive more than $1 million.
"University officials declined comment on the payouts."
Copy of the Settlement Agreement found at the bottom of this link.
Per The New York Post:
"Later in the day, Rutgers released the findings of the special investigation it commissioned before suspending Rice last December, and while it spends 33 1/2 pages meandering about and all but excusing Rice’s behavior, at the bottom of Page 34 we find this remarkable summary:
“'In sum, we believe there is sufficient evidence to find that certain actions of Coach Rice did ‘cross the line’ of permissible conduct and that such actions constituted harassment or intimidation within Rutgers’ Policy. ... Furthermore, due to the intensity with which Coach Rice engaged in some of the misconduct, we believe that ... Pernetti could reasonably determine that Coach Rice’s actions tended to embarrass and bring shame or disgrace to Rutgers in violation of Coach Rice’s employment contract with Rutgers.'
"Perfect. So Pernetti’s take is he wanted to fire Rice but wasn’t allowed to. His tweedy boss, Barchi, insists he had no idea of the extent of Rice’s sociopathic behavior until a few days ago. Except their own report now shouts to the sky that both of these perspectives were abject falsehoods (at best) or bald-faced lies (at worst)."
Copy of the Rutgers University Report on Mike Rice can be found at this link.