Lane Kiffin May Have to Pay Back USC $500K Used to Buy Mansion
Lane Kiffin’s Sunday is completely snowballing in the worst way. First, he was fired from his lucrative head coaching position at USC in the early hours of the morning. Then, he was not allowed to ride the team bus when they team returned to California. Now TMZ is reporting that Kiffin may end up being jobless and homeless.
When USC was recruiting Kiffin for the coaching position, they wanted him so badly that they were willing to do anything. Anything consisted of them giving him a $500k loan towards the purchase of his $5.5 million home in Manhattan Beach. Of course there was a catch, and it was that if Kiffin was ever fired or quit, he would be required to immediately give USC back the money along with interest.
Kiffin reportedly makes well over $2 million a year at USC, but that doesn’t necessarily mean he has $500k liquid cash sitting around waiting for USC to come knocking at the door. Kiffin has not commented on whether or not he can make good on this stipulation, but it will be interesting to see how this unfolds.