Lane Kiffin is officially an LSU Tiger after what felt like an endless saga this past weekend.
The 50-year-old accepted the school’s head coaching job on Sunday afternoon and was almost immediately put on a private jet—alongside a handful of assistants—to Baton Rouge.
While an initial report from ESPN’s Pete Thamelindicated that Kiffin would be making $12 million annually over seven years, new details—including a massive escalator and a significant buyout clause—have been revealed via NOLA.com’s Wilson Alexander, who has obtained a copy of Kiffin’s terms sheet.
Here’s a closer look at what Kiffin will be making as the Tigers’ coach.
Lane Kiffin LSU Contract Details
Kiffin has now officially signed his new deal with LSU and according to Alexander, it’s a seven-year, $91 million contract that will pay him $13 million annually. This makes him the second-highest paid coach in college football behind only Georgia’s Kirby Smart. It’s also a significant raise compared to the $9 million he made at Ole Miss this past season.
Additionally, according to the terms sheet, Kiffin’s deal includes an automatic escalator that would make him the highest-paid coach in the country should he lead LSU to a national title.
Not a bad gig.
Lane Kiffin Buyout: How Much Would LSU Owe Him If Fired?
Should things go south for Kiffin during his time with the Tigers, his new contract also includes a significant buyout clause.
According to Alexander, via the terms sheet, LSU would owe Kiffin 80% of his remaining salary should he be fired without cause. This would be paid out, “in monthly installments through the remainder of the deal,” and “does not include any mitigation or offset clause should Kiffin then get another job.”
Long story short? It pays to be Lane.
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This article was originally published on www.si.com as Lane Kiffin LSU Contract Details: New Massive 'Escalator' and Buyout Clause Revealed.
