Report: LSU agreed to pay Lane Kiffin’s potential $500K housing Loss in Oxford—but the math isn’t adding up

Jeff Hauser

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Report: LSU agreed to pay Lane Kiffin’s potential $500K housing Loss in Oxford—but the math isn’t adding up image

LSU’s agreement to cover up to $500,000 in potential losses on Lane Kiffin’s Oxford home was intended to be a minor footnote in a massive, $91 million coaching deal. Now the housing clause has become one of the more puzzling elements of the contract, raising questions about how the numbers were calculated. Also, whether they reflect the property’s actual history.

According to a report by Sportico's Daniel Libit, the term sheet Kiffin signed on Nov. 29 claimed the former Ole Miss coach purchased his Oxford residence for $2.89 million. A figure LSU used to cap the amount of financial protection it would offer should Kiffin sell the home for less. But there is no clear public record supporting that number.

Mississippi is a non-disclosure state, meaning sale prices do not appear on county documents. According to the report. Lafayette County real estate records identify the propertu, which is located in the Grove at Grand Oaks golf course community as the likely home Kiffin bought in 2021. And while official records provide no price, online listings do. Redfin shows a 2021 sale at $1.65 million, a figure confirmed to Sportico by the seller, Hollis Wayne Butler Jr., who said the listing aligns with his recollection. Butler added he sold Kiffin furniture separately, perhaps bringing the total closer to $1.75 million—but not near $2.89 million.

Zillow currently estimates the 7,200-square-foot, five-bedroom home at roughly $2.4 million, suggesting Kiffin may not take a loss at all if he sells. The property has not been listed. County records also show Kiffin financed the purchase with a 30-year, $1.155 million loan from Morgan Stanley Private Bank at an initial 2.6% interest rate.

In the broader context of a seven-year contract worth at least $13 million annually, the housing clause represents a relatively small financial exposure for LSU. 

Yet, it lands at a delicate moment for the school, which is still absorbing criticism over the $54 million buyout owed to former coach Brian Kelly. Louisiana Gov. Jeff Landry previously ripped LSU leadership for lax oversight in its football spending, but he has not voiced similar concerns since Kiffin’s hire.

In fact, LSU will reportedly pay Kiffin the playoff bonuses he was supposed to receive in his Ole Miss contract, according to Front Office Sports. He already netted a $150,000 bonus for the Rebels hosting a CFP game and would get $250,000 for a berth in the quarterfinals. Should Ole Miss beat Georgia and make the semifinals, Kiffin would be paid $500,000 and make $750,000 and $1 million for an appearance in the championship game and a national title, respectively. 

LSU officials told reporters Tuesday that the school would have let Kiffin coach Ole Miss throughout the CFP. However, Rebels athletic director Keith Carter denied his request. 

More: Lane Kiffin tried to leave Ole Miss in 2024 for 'another' job, says former coach

The discrepancy around the Oxford home’s valuation only deepens scrutiny. If the $2.89 million figure is inaccurate, it raises questions about the due diligence performed in constructing one of the most coach-friendly contracts in college football.

For now, Kiffin has yet to step on the field wearing purple and gold and he's entering a situation where he has been given anything he has asked for. This issue will likely fade away as the dust settles into the offseason. If LSU wanted a coach with a winning culture, Kiffin was likely the best choice. But it does come with a hefty price. 

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Staff Writer