Les Miles' contract - why the buyout would cost Zero or close to it.

This discussion is about the actual contract and buyout terms.

Key points as I understand them --> Miles is under contract through Dec 31, 2019. If fired by Dec, 31 2015 his buyout would be $15 MILL. For 2016 and 2017 it's $12.6 MILL, etc..

Assuming he was fired Dec 2015:

* Total buyout figure is reduced by whatever he was already paid by LSU in that calendar year. So total buyout is reduced to $11.7 MILL (approximately).

* LSU is allowed to pay the total in monthly payments for the next 8 years (double the length of time remaining on his contract which ends 12/31/19). So LSU would be on the hook for $1.46 MILL per year for the next 8 years.

* Miles must seek new employment and whatever he earns at his next job is offset against the LSU payments.

* Summary - if Miles finds a new job and earns an average of only $1.4 MILL per year, LSU would never have to pay a nickel of buyout money. Oh, and if he is fired from another school and is owed a buyout from them, LSU's obligation is offset by that amount as well.



Please add to or correct me where applicable.