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Matt Bush-USA TODAY Sports
Per LSU: BATON ROUGE – LSU today announced a settlement of monies owed to former head football coach Les Miles. Both parties agreed to a one-time lump sum payment of $1.5 million of the $6.5 remaining in the original agreement which would have been binding until 2023.

Vice Chancellor and Director of Athletics Joe Alleva said discussions with Miles and his representation have taken place over the course of several weeks. Alleva said the most important single factor in negotiating a new agreement is that it gives everyone incentive to move on.

“It’s time for both parties to move forward,” said 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.”

The final settlement was fully executed on Thursday, November 15th.

“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.”
Filed Under: LSU Football
50 Comments
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Tiger in Texas68 months
Several openings for Les to consider...if he does take Kansas, he has time to get his type players since that program has been a shite show for years...
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SCarolinaCajun68 months
This has me thinking... Do you think Coach O would go for a new OC? Part of me thinks that he has too much of a personal relation with our current OC. Wouldn't mind seeing a change there. Either way classy move Les. Best of luck.
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SCarolinaCajun68 months
The thought is coming from the money that we will no longer have to pay out to Les. Clears room to pay a legitimate OC.
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Kracka68 months
Didn't like him as coach towards the end of his tenure. But damn, I really can't think of anyone with more class than Les Miles.
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Longstreet68 months
Miles needs to be the LSU AD
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Spankum68 months
I am not sure why les would do this...it is a crappy deal on his behalf. Apparently, he is not satisfied spending what is effectively the rest of his career doing nothing. Best of luck to him...
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loweralabamatrojan68 months
Good for the Hat. Hopefully he's enjoyed the time off, got some Tropical grass to eat along with his umbrella drinks, and had some time to reflect on life. Sounds like he's ready to get back in the game. Compared to what we have at USC now, I'd take him in a heartbeat.
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Bige1168 months
Lol I’d love to see him there! Hollywood Les!!!
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biglego68 months
He’s a great coach as long as he has a good OC which he trusts. I think he got complacent with the offense, knowing he can safely win 10 games just by power running and not risk having another 2008 disaster.
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SamuelClemens68 months
Now he really wants that Kansas job
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JHH4LSU68 months
I will forever love this man. Forever LSU!!
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Gumbo168 months
Les is getting another coaching job soon is what this article tells me.
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BigPerm3068 months
I miss coach. If he wasn’t so damn stubborn he would still be here.
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LSUvet7268 months
Can someone tell me how much had Les received from LSU’s remaining contract before this 1.5 million payout
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PUB68 months
Money going right over to Coach O on his new extension
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Kreg Jennings68 months
Les is classy and all. But he also has smart folks working for him. New coaching gig that pays a lot or not...the time value of money also factors in here (think back to Biz Calculus). $1.5 million might be worth closer to $6.5 million over 5 years than you realize. Purchasing power, Etc.
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foshizzle68 months
Not anywhere close. For the amounts to be the same he'd have to get a 34% return on investment over those five years (yes, I worked it out in Excel). The only way this makes any financial sense at all is if he gets another highly-paid coaching gig soon, which is clearly going to happen soon.
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Kreg Jennings68 months
Didn’t say this was the only factor. Cause obviously he (well, Sexton) would have made a bad deal. But $1.5 million in your bank account versus $1.2 million over the course of a year does move the needle.
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jpcajun68 months
Hey Kansas..... let me introduce you to Les Miles.
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Loaner123168 months
It will be odd, and somewhat sad, seeing CLM wearing different colors.
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Brendoni68 months
Sounds like he’s about to start coaching again.
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jeff7012168 months
yep
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Mr. Hangover68 months
Nope, he was never looking for a job and LSU admin knew it. No need to carry on the charade anymore
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southsidedell68 months
Oh he is coaching again real soon...Midwest sounds like.
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JackieTreehorn68 months
Excellent upgrade to Ed Orgeron. Kudos to all involved.
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Barbellthor68 months
*golf clap*
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Covingtontiger7768 months
This makes perfect sense for Les. He would have been owed roughly $1.6m from 2019 through 2013. Now he gets a $1.5m Let’s say he gets new HC job for say 5 yrs at $10m (prob low) so $2m a year. If he is successful at the new gig he’ll make at least $10m but probably more as he will be re-upped or extended in years 3 or 4 making more or if he flames out he probably will get the balance of that contract as severence. So $1.5 m of LSU money and probably $10m + of someone else’s Dude is in the catbird seat
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Covingtontiger7768 months
*$1.6 m per year from LSU from 2019 through 2023.
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biglego68 months
Plus he’s already set for life anyway
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luciouslou68 months
He lost his mind for sure. No way I was givin up 6.5 for 1.5
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dwaynepg68 months
He knows what he's doing, he has to settle with LSU to be able to take another job and congrats to him! Between commercials, movies and now a head coaching job he's doing just fine, forever LSU!!
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