Trustees at Youngstown State University have approved a contract for Jim Tressel, agreeing to pay the former Ohio State football coach $300,000 a year to lead the northeast Ohio school.
The school's trustees also approved a $173 million operating budget Wednesday for fiscal year 2015 that includes 15 layoffs and permanent elimination of 43 vacant positions.
The (Youngstown) Vindicator reports that Tressel's official presidential tenure begins July 1, but he'll begin serving as acting president on Friday.
The presidential search cost the school $14,504.
The 61-year-old Tressel had been an administrator at the University of Akron the past two years. He was forced out at Ohio State after players sold memorabilia for cash and tattoos.