After much confusion in Tennessee over Greg Schiano’s contract status, it appears the Volunteers have dodged a very expensive bullet.
Schiano’s memorandum of understanding, a precursor to a formal contract that is common during negotiations, lacked the signatures of Tennessee chief financial officer David Miller and chancellor Beverly Davenport, according to a report from Blake Toppmeyer of the Knoxville News Sentinel.
That lack of signatures frees Tennessee from its $27 million financial commitment to Schiano, currently Ohio State’s defensive coordinator. Both Schiano and former Tennessee athletic director John Currie had already signed the document. Tennessee’s contract policy required Miller’s signature for the agreement to become binding, according to Toppmeyer.
Schiano was slated to become the next coach at Tennessee until an extreme reaction from the Volunteers fan base, centered around Schiano’s involvement at Penn State, caused the leadership in Knoxville to nix the deal. As the dust settled, word leaked out that Schiano would pursue the money that Tennessee had earlier agreed to give him.