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Ole Miss, Houston Nutt reach settlement on buyout

Houston Nutt AP

Over a year after “resigning” as head coach following his fourth season at the school, Houston Nutt‘s financial relationship with Ole Miss has come to an end.

Ole Miss announced Saturday that it had reached a one-time settlement with the former coach on the buyout spelled out in his contract.  The agreement was reached late last year.

Nutt’s deal called for a buyout of $6 million payable over five years.  With $4.8 million still remaining, the school and Nutt’s representation agreed on a one-time payment of $4.35 million.

Athletic director Ross Bjork said in a statement that the settlement, paid out of “athletic foundation reserves,” will save “over $550,000 when you consider time value of money and payroll taxes.”  In fact, taxes seemed to be the overriding reason for the decision to pursue a settlement.

“In light of the changes in tax code for 2013 and beyond, we proposed an early completion of the separation agreement with Coach Nutt and we came to terms near the end of December, 2012,” Bjork said in the statement.

It was announced in November of 2011 that Nutt would “resign” at season’s end.  He ended his time with the Rebels with a 24-26 record, including a 10-22 mark in SEC play.  Included in that total was a 14-game conference losing streak to end his time in Oxford.

Nutt was replaced by Hugh Freeze, who led the Rebels to a 7-6 record in his first season and the first Egg Bowl win over Mississippi State since 2008.  Freeze’s 2013 recruiting class is currently ranked No. 13 in the country.

As for Nutt, he was out of coaching and in the broadcast booth in 2012.  He was mentioned as a candidate for a position on the Dallas Cowboys’ coaching staff earlier this month, although that didn’t come to fruition.

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11 Responses to “Ole Miss, Houston Nutt reach settlement on buyout”
  1. madtownthrowdown says: Jan 27, 2013 8:35 AM

    Didn’t even read the article, scrolled right to the bottom and I see no one else gives a shit either.

  2. manchestermiracle says: Jan 27, 2013 11:00 AM

    Is there some reason CFT’s stories can’t be assembled like the other pages? You know, a horizontal bar with pics that you can easily scroll across to find the stuff you want to read. This page of newspaper-like headlines looks cheesy and is just about impossible to navigate to older stories.

  3. kozbee says: Jan 27, 2013 11:15 AM

    The way Houston Nutt coached he should be the one paying for the way he screwed Ole Miss while being there.Nutt your such a loser.

  4. pettytom says: Jan 27, 2013 11:27 AM

    4.35 million for sucking??? Nice!

  5. virusgvr says: Jan 27, 2013 1:15 PM

    I wish someone would give me a “one time payout.” One of these days… I would be happy with 250k

  6. cwk22 says: Jan 27, 2013 1:42 PM

    My ol miss friends wanted him so bad and were celebrating his hire. This in spite of living in Arkansas and seeing how bad he screwed up the Hogs. No one should ever have to suffer this guy again as a coach or listen to his bizarre press conferences.

  7. cwk22 says: Jan 27, 2013 1:43 PM

    Only thing he ever did was have a great agent who helped him get paid far more then he is worth.

  8. cometkazie says: Jan 27, 2013 5:00 PM

    Nutt’s name kept coming up when LSU was looking for a coach and I never could understand why.

    He only excels in nuttiness. Sorry, I couldn’t help myself.

  9. jckid21 says: Jan 27, 2013 5:47 PM

    This is what happens when you Nutt too quick.

    Now Ole Miss has to pay. Always better to go with a coach who understands protection and knows how to use it correctly.

  10. barbeaux says: Jan 27, 2013 7:49 PM

    God I need one of these jobs.

  11. kozbee says: Jan 28, 2013 10:03 AM

    Ben and John..

    Why never do a skit for the Cheerleaders,they keep students from being bored if their team is losing..

    30 best looking Cheerleaders in college.Lets GO.

    http://www.athlonsports.com/college-football/slideshows/30-amazing-college-football-cheerleaders-2012-season-round#30

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