How USC May Sue Lane Kiffin For 500K
The Lane Kiffin era at USC ended in a way fitting for a school in the movie capitol of the world.
In addition to being embarrassingly fired at the airport, Kiffin may also be on the hook for a 500K loan issued by the school for the purchase of his Manhattan Beach mansion.
H/T: Larry Brown Sports
Last December, TMZ reported that USC had given Kiffin a $500,000 loan toward the purchase of his $5.5 million home in Manhattan Beach, Calif. But there was one catch — if Kiffin chose to leave the school or was fired, USC could demand the money back with interest.
If the money goes unpaid the school could foreclose on the property.
Universities and even corporations use loans or bonuses like this as a way to retain key employees. Kind of like a “Runaway Bride” clause. Being bound by financial obligations always makes a decision to leave harder. But I think USC will forgive the loan or give Kiffin time to repay it. They really just wanted him out.
Either way, like the saying goes…When it rains it pours. No word yet on how the university plans to proceed.