LSU is no longer required to pay former coach Les Miles $133,000 a month until 2023. The two sides agreed to a one-time payment of $1.5 million instead of the remaining $6.5 million, according to a press release from the University on Thursday.
“It’s time for both parties to move forward,” said Alleva in the release. “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.”
Alleva made the decision to fire Miles after LSU dropped to 2-2 following a last-second 18-13 loss to Auburn in Sept. 2016. At the time, Miles still had three more years on his contract and was owed around $12 million, which was to be paid out over six years.
Due to contract language, LSU was only required to pay $9.6 million. It was also stipulated Miles had to continue to look for work and if he agreed to another the job elsewhere, the salary he received would cut into the amount of money he was owed by LSU.
Miles, who possessed a 114-34 record at LSU, has been linked to the head coaching vacancy at Kansas University in recent days.
“Coach Miles has always been positive about our program and has consistently supported our student athletes and our coaches,” said Alleva. “He will always be part of the great history of LSU football and I wish him and his family nothing but the very best.”