Joe Paterno’s Family Rejected Stadium Naming Deal
Joe Paterno’s family rejected a recent offer by Penn State officials that would have renamed “Beaver Stadium” as “Joe Paterno Stadium.” Under terms of the deal the Paterno family would have waived all rights to sue the university for firing Joe Paterno following the Jerry Sandusky scandal made national news.
JoePa during his career had made it perfectly clear that renaming the studio wasn’t important to him although his family said this week that it would still be “a tremendous and humbling honor.”
Despite its failure to be granted the lawsuit release the university this week handed over more than $5.5 million to the Paterno family. That money included more than $3 million in bonuses that spanned Paterno’s last season, bowl game and his entire career. While we initially reported that the Paterno family received $5.7 million, a new report places the amount of money received closer to $6.7 million, including revenue from TV and Radio syndication for Penn State games.
Joe Paterno died at the age of 85 after suffering with lung cancer. Paterno’s death came nearly two-and-a-half months after Jerry Sandusky was accused of sex abuse against at least 10 underage boys. Joe Paterno served as the head coach at Penn State for 46 seasons and after his firing many of the universities students and staff got behind the coach to voice their disapproval with the universities decision.
In speaking about the families payout lawyer Wick Sollers said a settlement had not been released and that the money paid was “a straightforward payment of moneys indisputably owed to the Paterno estate. The university had requested the family agree to a full release in return for the payments under the contract. That request was declined and no release was signed.”