LSU Tigers, Les Miles reach $1.5M settlement

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BulldogGopher said:
I must be missing something here - why would Miles agree to leave $5M on the table with this settlement? I assume the agreement was such that if he took another coaching job, the amount LSU owed would be offset by the new salary so I get that there wasn't much incentive for him to move on, but still.

http://www.espn.com/college-footbal...s-les-miles-reach-15-million-buyout-agreement
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I think you may have hit on it. He was being paid monthly by LSU until 2023 with the contract probably calling for an offset once he takes a new job. If he's getting the Kansas job (or any other job at a program in a major conference), his salary is going to meet or exceed what LSU would be paying him, so their obligation to pay him anything would have ended. Taking the $1.5M now is free money that he wouldn't have seen once he starts getting paid by somebody else.
 


Looks like Kansas is the rumored landing spot, but I'm surprised it's taken this long. Just to recap, this is a guy who won three division titles, two conferences titles, a national title and seven bowl games. Plus, he finished ranked nine seasons and never had less than eight wins. That's a mighty resume. I know there were some questions about his system becoming outdated, but it's not like his teams were doing poorly out on the field in the last few years.
 

IceBoxGopher said:
Looks like Kansas is the rumored landing spot, but I'm surprised it's taken this long. Just to recap, this is a guy who won three division titles, two conferences titles, a national title and seven bowl games. Plus, he finished ranked nine seasons and never had less than eight wins. That's a mighty resume. I know there were some questions about his system becoming outdated, but it's not like his teams were doing poorly out on the field in the last few years.
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I suspect Les finally settled on what he wanted.

When LSU dumped him he talked a lot about wanting to win a championship and compete immediately. Now that could be PR talk but also.... I think he really meant it, and none of those tip top schools had any interest in him. I think he figured that out and has settled on what he can get.
 


2nd Degree Gopher said:
I think you may have hit on it. He was being paid monthly by LSU until 2023 with the contract probably calling for an offset once he takes a new job. If he's getting the Kansas job (or any other job at a program in a major conference), his salary is going to meet or exceed what LSU would be paying him, so their obligation to pay him anything would have ended. Taking the $1.5M now is free money that he wouldn't have seen once he starts getting paid by somebody else.
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That makes sense. I didn't consider that $6.5M over the next 5 years is far less than he would receive in a new P5 coaching job. It makes no sense for him to settle unless he gets another job soon, so he must be very confident that that will happen.
 

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