Despite ten straight bowl games and one national championship, it appears that Les Miles’ days as head coach of the Louisiana State football team are numbered.
A “high-ranking source” has told Joe Schad of ESPN that discussions are ongoing and that there is “a very good possibility” that Miles will have his contract bought out by the school.
While, buying out a coach’s contract is common at big schools that are disappointed in the football team’s results, the size of this buyout is a bit shocking.
According to the report, LSU boosters are ready to pay $US15 million needed to buy out Miles’ contract. That number will jump to $US20 million once all of the assistant coaches have their contracts bought out also.
Schad later said on ESPN that he was told “money is not an issue.”
“In Louisiana, we expect national championships, and we’re not in it,” the source told Schad.
Miles led LSU to the 2007 national championship and was runner-up in 2011. However, since that loss in the BCS title game, LSU has not finished a season ranked higher than 14th in the AP poll and was not ranked at all after the 2014 season.
This year, LSU has lost three games in a row and once again is not ranked after being ranked No. 2 prior to the losing streak.
Business Insider Emails & Alerts
Site highlights each day to your inbox.