LSU & Les Miles Agree To Final Settlement, What Comes Next?
Former LSU football coach Les Miles has agreed to a final lump sum buyout of his original contract with the program, the school announced today.
The school will pay Miles $1.5 million, settling the remainder of his deal. Had Miles not agreed to a buyout, the school would've still owed him $6.5 million, to be paid out in monthly sums of $133,000 between now and 2023.
Miles was fired in September of 2016. At the time, he was still owed $9 million in total buyout money. He is leaving about $5 million of that behind with the buyout agreement.
“It’s time for both parties to move forward,” said LSU Vice Chancellor and Director of Athletics Joe Alleva. “One of the challenges of the buyout that was in place was there just wasn’t a lot of incentive to move on to other things. We were looking to provide that and Coach Miles and his representatives also were ready. It was a mutually agreed upon goal and a very positive process from beginning to end.”
Miles is walking away from a lot of money, but it could mean he's about to coach elsewhere.
He's been rumored to a front running candidate for the head coaching job at Kansas. His buyout contractually opens the door for that possibility.
LSU's athletic department saves $5 million in the agreement.