College Football 2011! (2 Viewers)

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What a sad and bizarre story out of PSU this year. Not in a million years would anyone anticipate things ending like they did. It will be interesting to see how much lasting damage there is to Paterno's reputation once this whole matter is sorted out. Still a lot of things that aren't clear. That will take years to resolve. It's curious to me that the Sandusky story broke only one week after Paterno gets the record for most wins. If the authorities or media held this up for years or even months to allow that to happen it's a real shame. And that's not beyond being possible given what we do know. Paterno himself held on about 5 years longer than he should have. He was in no shape to coach that program in recent years. Mostly a figurehead. And I think he did so, in large part, for the record. In retrospect, Paterno should have called it quits and walked away. Easier said than done, but you have to question his priorities in staying on so long.

 

[Combat]

Just to cap this off, I read today that Penn St. is paying the Paterno estate $6.5 million including a $3 million "career bonus"! You couldn't make that stuff up. This is a public school handing out millions to a dead guy who was fired under awful circumstances. This is outright theft of public funds:

Penn State says it provided Joe Paterno’s estate with more than $5.5 million in payments and benefits Thursday to settle his employment contract.

School spokesman Bill Mahon said the university and Paterno’s estate finalized the remaining payments that were due to the longtime coach, who was fired in November in the wake of former assistant Jerry Sandusky’s arrest on child sexual abuse charges.

Paterno died of lung cancer in January at age 85.

A breakdown provided by the school included: a career bonus of $3 million; an annual bonus of $425,000; the use by Paterno’s family of a Beaver Stadium suite for 25 years, valued at $1.5 million; and $900,000 from television and radio revenue from last season.

The deal also pledges payments to the coach’s widow, Sue Paterno, of $1,000 a month for life, and gives her on-campus parking and access to university hydrotherapy equipment.

No one answered the phone at the Paterno home in State College late Thursday, and messages for Paterno lawyer Wick Sollers and spokesman Dan McGinn were not immediately returned.

Other elements of the package include a final paycheck of $34,000; a death benefit of $51,000; a bowl bonus of $50,000 and $350,000 — payable over five years — under a 1986 consulting agreement. The university also agreed to forgive $350,000 in outstanding loans and debt. No explanation was provided regarding Paterno’s debts to the school.

While the school said in a news release that the total value of the package was “over $5.5 million,” added together the various elements are worth about $6.7 million.