USC Reportedly Could Have the Ability to Foreclose on Lane Kiffin’s House
As if supposedly getting fired in the LAX parking lot were not enough professional indignity for former USC head coach Lane Kiffin to suffer in one week, now comes word that he may also be in danger of losing his house.
[A]fter Lane accepted the head coaching job at the University of Southern California in 2010, the school agreed to loan him $500k to use toward the purchase of a $5.5 million mansion in Manhattan Beach, CA. But there was a catch … under the terms of the deal, if Lane got fired or quit during the life of the loan, USC could demand the $500k back, plus interest STAT … and if he didn’t pay up, SC could foreclose.
TMZ failed to get comment from USC or Kiffin on whether or not the former coach had paid back the loan yet, or if it would be forgiven — not that Kiffin’s used to finding forgiveness from his former employers.