The now former U of L coach is going to get paid ... for a while.
Photo by Greg Fiume/Getty Images
Kenny Payne’s buyout deal with the University of Louisville will see him paid $7.25 million over the next three years, this according to the document, which was obtained by WDRB news through a request.
Payne will receive payments of $201,388 per month through March 31, 2027.
When all is said and done, Payne will receive $13.85 million from U of L ... for 12 wins over two years. Math has never been my strong-suit, but I believe that totals out to $1,154,167 per win.
It’s incredible work if you can find it.
If you’re counting at home, this also means that Louisville will be paying its former head coach $2.5 million per year, while paying its current head coach, Pat Kelsey, $2.3 million per year.
U of L is ALSO still paying former head coach Chris Mack $133,333 per month through January of 2025, when Mack’s separation agreement with the school comes to an end.
WDRB has a couple of more interesting details about the agreement with Payne:
The deal is standard for such settlements. Payne is asked to cooperate with any NCAA or other investigations that take place in the future. It includes no offsets, which means Louisville owes Payne the money, even if he takes another job.
The deal also includes a non-disparagement clause, in which Payne, “agrees that he will not make any disparaging statements or remarks about (the U of L Athletic Association) or the University of Louisville.” Though he may respond truthfully to regulatory agencies, law enforcement or in response to a court order.
I’m not even mad at Kenny about this ... or at least I’m not as mad at Kenny as I’m at the brass at Louisville who put together this type of contract for a head coach who was not being pursued by any other school anywhere. Bidding against yourself is silly, and sometimes, incredibly costly.
You can download the full copy of Payne’s buyout agreement here.
