The memorandum of understanding signed by UT Athletics Director John Currie and Ohio State defense coordinator Greg Schiano lacked one more signature that would have made the agreement legally binding, the athletics department said Monday.
Currie and Schiano signed the MOU, dated Nov. 26, the same day news of Schiano's potential hire as UT's next head football coach leaked, and UT students, fans, boosters and Tennessee lawmakers started protesting the potential hire. The deal with Schiano was then called off.
UT released the MOU Monday in response to a public records request. Chancellor Beverly Davenport and UT CFO David Miller never signed the agreement.
"That document was never signed by The University of Tennessee’s Chief Financial Officer, whose signature would have been required to make it legally binding on the University," said Tom Satkowiak, assistant athletic director for media relations.
Under the agreement, Schiano was to have a six-year contract with UT, with a starting salary of $4.125 million in the first year, increasing to $4.325 million in year six.
Under the MOU, if Schiano was fired without cause, the university would have owed him 75 percent of his salary for the rest of the contract.
After the deal with Schiano fell apart, Currie was suspended with pay five days later, and former UT head coach Phillip Fulmer was named to lead the Athletics Department.
Alabama defensive coordinator Jeremy Pruitt was named the Vols' new head coach on Dec. 7.
Under the terms of his MOU, Pruitt will earn $3.8 million per year for six years. If he is fired without cause, UT will owe Pruitt 60 percent of his remaining salary as a buyout.