News broke yesterday that former Penn State football coach Joe Paterno was negotiating a contract all while the Jerry Sandusky trial was in process and apparently, Penn State officials are honoring his contract.
Karen Peetz, chair of Penn State’s board of trustees said of the issue:
“Contracts are contracts.”
The University is honoring the deal, which benefits Paterno’s estate, even though Joe testified before a grand jury over sex-abuse allegations against Sandusky.
According to the university website, Paterno's amended contract was finalized in August 2011 and totaled $5.5 million in payouts and benefits, which included a $3 million bonus and title as head football coach emeritus if he retired at the end of the 2011 season.
The package, which was published online in April, also included a $425,000 head coach bonus, $900,000 in television and radio revenue, $250,000 in debt forgiveness, use of the university's luxury box, use of the school's hydrotherapy equipment and $1,000 monthly payment to Paterno's wife for the rest of her life, among other benefits.
The University has also been in an uproar over the fight for Joe Paterno’s statue that stands at the school. Many want it to be torn down, while some officials are fighting to keep his legacy alive.
We hope that all of these issues involving Joe Paterno and Jerry Sandusky can be resolved soon.