Kenny Payne's Louisville contract buyout clause: Here's how much Cards owe coach
Louisville men's basketball on Wednesday announced it was parting ways with head coach Kenny Payne.
The 57-year-old Mississippi native leaves his alma mater with a record of 12-52 across two seasons at the helm.
The Cardinals' 2023-24 season ended with a 94-85 loss to N.C. State in the first round of the ACC Tournament in Washington, D.C.
Under his guidance, the program endured consecutive campaigns losing 20 or more games for the first time in its 110-year history.
"Whether I'm the coach or not," he said after what proved to be his final game, "I can look in the mirror and say, 'I gave it everything I had to help this program.'"
Here's a look at how much Payne's buyout is worth — and his salary as the Cards' head coach:
Kenny Payne's Louisville basketball contract details
Payne's contract paid a base salary of $3,350,000 through March 31, 2028. At the time of its approval, he was the fourth highest-paid coach in the ACC.
He went 4-28 during his first season, setting a Louisville record for most losses during a campaign.
How much is Kenny Payne's buyout?
Louisville is paying Payne a total severance amount of $7,250,000, according to a copy of the separation agreement obtained by The Courier Journal via an open records request.
The payments of $201,388.88 began "on or about" April 1, the agreement says. They'll end "on or about" March 31, 2027.
Chris Mack is still on the books, too
When Louisville parted ways with former coach Chris Mack on Jan. 27, 2022, it agreed to a $4.8 million severance package.
It's being paid in monthly increments of $133,333.33 until Jan. 31, 2025.
Reach Louisville men's basketball reporter Brooks Holton at bholton@gannett.com and follow him on X at @brooksHolton.
This article originally appeared on Louisville Courier Journal: Louisville basketball coach contract: Kenny Payne's buyout
