LSU, former coach Les Miles agree to $1.5M buyout settlement
BATON ROUGE, La. (AP) — LSU and Les Miles have completed a $1.5 million lump-sum settlement that relieves the university of paying its former coach an additional $5 million through 2023.
Vice chancellor and director of athletics Joe Alleva says the agreement allows both parties to "move on."
Miles was fired four games into the 2016 season, but was due a buyout of around $12.9 million at the time.
LSU was able to pay Miles' buyout in installments over about eight years, but the settlement saves LSU money in the long term while removing any disincentives for Miles to pursue another college coaching job immediately.
If the buyout had remained in place, Miles would have had to count his salary from a new college head coaching job against what LSU owed him.
Alleva says negotiations with Miles and his representatives were "very positive" and achieved a "mutually agreed upon goal" for all parties.