Paterno’s paychecks at least $500,000
It’s possible the Penn State coach has outside income.
HARRISBURG, Pa. (AP) — Penn State head football coach Joe Paterno’s salary is about a half-million dollars a year, state officials disclosed Thursday after a long fight by the university to keep the figure secret, dampening speculation that he is among the highest-paid in the nation.
The State Employees’ Retirement System released Paterno’s salary more than a week after the Pennsylvania Supreme Court ruled that the salaries of Paterno and other top Penn State officials are public information.
Paterno was paid $427,220 in the first 10 months of 2007— putting his year-end salary on track to exceed $500,000. He was paid $490,638 last year, according to the retirement system.
The data did not indicate whether the 80-year-old coach receives bonuses or has outside income from other sources, as many of his counterparts do — so just how he fully measures up to other major college coaches, some who make in the millions, is still not known.
Paterno, who has been head coach for 42 years, a college football record, acknowledged Wednesday he makes more money than is reflected in the retirement system’s figures. But he didn’t specify how much.
“I’m paid well, I’m not overpaid,” he said during an interview with reporters, before the salary disclosure, about his upcoming College Football Hall of Fame induction. “I got all the money I need.”
The disclosure was forced by The Patriot News in Harrisburg, which asked the retirement system nearly five years ago to release the salaries of Paterno and three other Penn State officials.
Penn State, which had refused to make the information public, opposed the release by the retirement system on the grounds that it would be unfair to the affected employees and might hurt morale or make it more difficult to recruit and retain talent.
The legal wrangling finally ended last week, when the state Supreme Court upheld a lower court order to release the information. The justices said the lower court properly balanced the public’s right against the effects the disclosure might have on reputations and personal security.
Paterno holds records for bowl appearances (33) and postseason wins (22). His 371 total victories put him two behind Florida State’s Bobby Bowden for most among major college coaches.
Because of his achievements and longevity, he was believed to have been among the highest-paid coaches in college football.
A 2006 comparison by USA Today showed that Big Ten coaches’ salaries ranged from $231,000 at Purdue to $2.8 million at Iowa. Many of the coaches in the conference received substantial bonuses or outside income as well.