Ole Miss pays off Houston Nutt's buyout all at once

Chris Graythen

The former Rebels coach will get the rest of his buyout in a lump sum payment, and he is now free to go on doing whatever Houston Nutt does.

Ole Miss and Houston Nutt have agreed to a settlement on his buyout from the university, according to Hugh Kellenberger of the Clarion Ledger. Nutt was due $4.8 million over the next four years, but will instead receive a lump sum payment of $4.35 million. Ole Miss AD Ross Bjork released a statement, saying that the university opted for the lump sum payment, as it will save them over $500,000 in taxes.

Nutt was owed that buyout money, regardless of whether he took another coaching job. He has been away from the sidelines since he was fired in Oxford during the 2011 season, working as a TV analyst.

Things started out so well for Nutt at Ole Miss, going 9-4 in each of his first two seasons in charge. However, things deteriorated quickly, with the Rebels going 4-8 and 2-10 in 2010 and 2011. The program saw a nice turnaround under first-year head coach Hugh Freeze, who guided the team to a 7-6 record in 2012, as well as a strong push in recruiting in 2013.

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