Rutgers Coach Greg Schiano Lands Massive Extension. Is It A Mistake?

Greg Schiano is locked up as the Rutgers football coach for the next several years.

The school announced Wednesday that the program and Schiano have reached an extension that will run through 2030 and pay him $6.25 million in 2024, according to reports. He previously was scheduled to earn $4 million.

His salary will get bumped up every year and top out at $7.75 million. That's a nice chunk of change for Schiano, who is now in his second stint as the head coach at Rutgers.

Rutgers hands Greg Schiano a contract extension.

The big question everyone has in front of them now is whether or not this deal is worth it. The Scarlet Knights have made a significant financial commitment to Schiano.

While buyout details don't appear to be known, it's going to be a very large number given what's known about the salary figures.

He's going to make right around $40 million for the duration of this extension. That's big boy money to lead a B1G program. Yet, does his record justify it? He's 18-28 since returning to the Scarlet Knights prior to the 2020 season and went 6-6 this year.

Greg Schiano agrees to massive extension with Rutgers. (Photo by Scott Taetsch/Getty Images)

Is finishing the regular season just once at .500 since his return enough to justify a huge payday? I'm not convinced of that at all.

Granted, Rutgers is a very hard place to win at. It's not known for being a football power, and it has to regularly compete against some of the best teams in the country.

Was it smart for Rutgers to give Greg Schiano a large extension? (Photo by Scott Taetsch/Getty Images)

Having said that, handing out six year extensions for .500 seasons is a bold move. I guess this is what happens now that B1G programs have more money than they can spend. It's nice to be rich. Let me know at David.Hookstead@outkick.com whether or not you think Rutgers made the right call or will regret this deal.