UofL to Pay Kenny Payne $7.25M Over Next 3 Years Under Buyout Terms
April 1, 2024 9:28PM EDT
WASHINGTON, DC – MARCH 12: Head coach Kenny Payne of the Louisville Cardinals watches the game in the second half against the North Carolina State Wolfpack in the First Round of the ACC Men’s Basketball Tournament at Capital One Arena on March 12, 2024 in Washington, DC. (Photo by Greg Fiume/Getty Images)
Former Louisville basketball coach Kenny Payne will receive a $7.25 million buyout over the next three years following his termination last month.
The settlement, obtained through an open records request, includes monthly payments of $201,388 until March 31, 2027.
Louisville will be paying Payne $2.5 million annually, along with current coach Pat Kelsey’s $2.3 million salary.
The agreement also covers health insurance for Payne until June 30, 2025, and includes non-disparagement and cooperation clauses.
Louisville will continue to pay former coach Chris Mack until January 2025, totaling $526,387 per month for basketball coaches.
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