State To Examine Rutgers Finances, Including Stadium Plan
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New Jersey State Comptroller Office
Opening Inquiry Into Rutgers' Finances |
New Jersey state comptroller Matthew Boxer's office yesterday "opened an inquiry into the finances of Rutgers University, with a special focus on the athletic department and the $102[M] football stadium expansion," according to Sherman & Margolin of the Newark STAR-LEDGER. Boxer, who was asked by New Jersey state Sen. Loretta Weinberg to "dig into Rutgers' financial administration," is "seeking records detailing universitywide procurement and contracting methods, the finances and money-management practices of Rutgers' athletic department and compensation packages for all team coaches." Weinberg said that Boxer indicated that his staff "also plans to examine the financial underpinnings of the ongoing expansion" of Rutgers Stadium. Boxer's inquiry was "triggered by a series of Star-Ledger reports examining the cost of big-time football at Rutgers." The stories, reported last week, "detailed the hidden side deals" with Rutgers football coach Greg Schiano, "problems with the stadium financing and a surge in athletic scholarships despite a budget crunch affecting the rest of the school" (Newark STAR-LEDGER, 7/29). Weinberg said that she is "concerned about the addendums to Schiano's contract" that award him an additional $250,000 annually to be paid by Nelligan Sports Marketing, which the school hired to sell corporate sponsorships. Weinberg: "My concern was the way in which they structured the deal. If you go through all of these machinations to pay somebody money in order to keep it from public view, at best it's inappropriate. If you're ashamed of what you're doing, you shouldn't be doing it" (Bergen RECORD, 7/29).
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