Les Miles, LSU Agree to $1.5 Million Contract Buyout

Two years after being fired by LSU, former head coach Les Miles has finally reached a buyout with the school on his contract. 

Per an official announcement from LSU (h/t Tyler Nunez of TigerRag.com), Miles will receive a one-time lump sum payment of $1.5 million to erase the remaining $6.5 million on his deal that was binding through 2023. 

LSU athletic director Joe Alleva's statement about Miles' buyout was included in the announcement:

“It's time for both parties to move forward. 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."

Miles was fired by LSU after a 2-2 start during the 2016 season. Defensive line coach Ed Orgeron finished the year as the Tigers' head coach on an interim basis for two months before being promoted to the full-time job in November. 

Per Scott Rabalais of The Advocate, the total value of Miles' buyout at the time he was fired was $9.6 million total paid out in annual installments for six years. 

Miles replaced Nick Saban as LSU head coach in January 2005. The 65-year-old went 148-114 with two SEC titles and the 2007 BCS National Championship in 12 seasons with the program.