According to ESPN, Rice — who was fired earlier this month after video of him physically assaulting players and using homophobic slang became public — will collect $475,000 in a settlement with Rutgers. Rice had two years remaining on his contract, and he was owed more than $1 million.
“Tonight’s agreement is in the best interests of the university, and I am pleased this issue has been resolved,” said school president Robert Barchi.
In addition to Rice’s settlement, Barchi announced that up to $1.2 million had been set aside for other coaches and staff involved with the scandal. Rutgers athletic director Tim Pernetti was fired shortly after Rice, essentially for not firing Rice late in 2012 when he was first made aware of the video.