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When the University of Southern California head coach Lane Kiffin first started his job in 2010, the university loaned him $500k so he could buy a mansion in Manhattan Beach, CA. Now that the school gave him the boot, he faces some serious problems.
According to TMZ, the loan contract from the university in 2010 stated that if Kiffin was fired or quit, USC could take all the money back, with interest. The former Trojans coach may have to dig up some serious money, and quick, or he could face foreclosure.
It is unknown if Kiffin was fired during the $500k loan period, but TMZ reports that those kinds of arrangements typically last at least as long as a coach's employment contract.
ESPN reports that the announcement of Kiffin's release came within six hours after the USC Trojans loss to Arizona State.
"I haven't felt particularly good even from the Hawaii game," USC athletic director Pat Haden said of his decision to let Kiffin go. "I just felt like we haven't been the consistent team that we need to be at USC. We've played 125 years of some pretty dog-gone good football here at USC. We're just all a piece of the continuum. We're going to be playing football 125 years from now. I was just a tiny little piece of it, Lane was, Pete Carroll was, and we all add up into this continuum of USC football, and we just realized that our history has been great, and we need to be great again."
Kiffin left the team with a 28-15 overall record for his four years of coaching.
Image courtesy of Wikimedia Commons