ESPN – Former Rutgers athletic director Tim Pernetti is getting $1.2 million in salary, plus an iPad, car allowance and more than two years of health insurance coverage under a settlement agreement. Pernetti suspended Rice in December 2012. The coach was fired last week, after the video was made public. Under his agreement, Pernetti is to be paid his base salary of $453,000 per year through June 2014 and a one-time payment of $679,500 in the next month. He gets the money even if he takes another job. Pernetti also gets to keep his Rutgers-issued iPad and laptop computer.
Look, getting fired in such a public way like Pernetti has got to be the absolute worst. Especially when it comes at the hands of an extortionist, a lunatic of a coach, and ESPN’s 24/7 round-the-clock coverage like this was somehow worse then the Penn State Scandal. But when it comes to severance packages this a pretty good deal. This guy is gonna get $1.2 mill guaranteed, even if he finds another job (which he will in a heartbeat). He gets to keep his iPad too. You know how expensive those things are? I don’t care if you’re a struggling college student or a former AD getting paid over a million to do nothing. Those things ain’t cheap. Throw in Mac-care and all the other apps and what-not and it gets to be a pretty penny. Plus he gets a $12,000 a year for a car-allowance. With the leasing options these days the possibilities are endless.