Two weeks after firing Brian Kelly, LSU is still in a standoff with its former football coach over the terms of his buyout.
Kelly’s contract — a 10-year, $95 million deal — calls for him to be paid 90% of his remaining salary for the life of his contract, which would put LSU on the hook for close to $54 million in the form of monthly payments to Kelly through 2031.
LSU wanted to negotiate a smaller payment to Kelly that would give the coach a significant payout up front, but save the program money in the long run. The benefit to Kelly would be getting the money in one lump sum and LSU would remove mitigation language for future earnings from coaching. However, those negotiations have not yielded a new agreement.
According to documents obtained by the Baton Rouge Advocate, Kelly’s lawyers sent a letter to new athletic director Verge Ausberry on Nov. 5 indicating his expectation that the school will pay his “full liquidated damages,” meaning the full $54 million buyout. Kelly showed a willingness to engage in such conversations immediately after his firing, but rejected offers of $25 million and $30 million that were presented to him — first by then-athletic director Scott Woodward and later by executive deputy athletic director Julie Cromer. Since Woodward’s firing after a fiery press conference from Louisiana governor Jeff Landry, talks have apparently stalled.
