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By Michael Gallagher
Sports Content Coordinator
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Most college football fans suspected when it was revealed LSU was preparing a $90-million-plus contract for Lane Kiffin that the polarizing head coach’s days with Ole Miss were numbered.
Kiffin remained adamant that his decision between the two schools had nothing to do with money, but you’d be hard-pressed to find any coach willing to turn down Kirby Smart money ($13 million per year).
The LSU deal also came with a reported $25 million investment for NIL spending and recruiting, which goes a long way in trying to lure some of the top high school players in the country while also competing against other SEC powerhouses like Alabama, Georgia, Florida, Tennessee, Texas, and Texas A&M.
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But there’s one little-known part of Kiffin’s contract that was revealed on Tuesday by Sportico’s Daniel Libit that had many fans scratching their heads.
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According to Sportico, Kiffin’s contract states that if Kiffin loses money on the sale of his home in Mississippi that LSU will essentially reimburse him for the difference.
“The school agreed to effectively indemnify him for up to $500,000 in potential losses on the sale of his primary residence in Oxford, Miss,” Libit wrote.
“… According to the term sheet, Kiffin purchased his Oxford home for $2.89 million, meaning LSU would be responsible for covering at least some of the shortfall if he sells it for less.”
Per Sportico, Kiffin’s five-bedroom, six-bath, 7,200-square-foot Oxford, MS, home currently has a market value of $2.4 million, leaving LSU on the hook for the remaining $500,000 difference — pocket change for an institution dishing out $91 million over seven years.
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Fans didn’t hesitate to voice their opinions on social media, many of whom felt Kiffin put LSU over a barrel.
“[Louisiana governor] @JeffLandry did you read this contract?” one user asked.
“Has there ever been a bigger lie told than Lane Kiffin not caring about money?” another scoffed.
“No wonder LSU won over Florida. LSU said they’d do literally anything to get him to come—can only imagine the promises they made that we will never know about,” one fan stated.
“This is wild. You'd think, at some point, that's what the $13 million a year is for,” a second fan pointed out.
“LSU is proving many things. Most notably….don’t go there to attain a business degree,” quipped another fan.
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