Kenny Payne's Louisville contract buyout clause: Here's how much Cards owe coach if fired

Uncertainty surrounding Kenny Payne's future as head coach of the Louisville men's basketball team has overshadowed anything that has occurred on the court over the past week.

For example, after U of L's most impressive performance of the 2023-24 season to date, a 22-point drubbing of Pepperdine on Sunday, the first question Payne fielded during his postgame news conference was, "Was there any sense that you were coaching for your job today?"

Payne said no, which was also his answer to a follow-up question from a member of the media asking if he had spoke with athletics director Josh Heird about his job status. The questions stemmed from two reports that preceded the game between the Cardinals (5-6, 0-1 ACC) and the Waves.

One, from college hoops insider Jeff Goodman on Dec. 14, said Heird spent that day meeting with players to "get their thoughts" on Payne and the "entire situation with the program" before making a decision about his future "fairly soon." The other, from CBS Sports' Matt Norlander on Dec. 15, said "the expectation" is for Payne's ouster to occur "sooner rather than later" and that Heird "will not drag this out over the course of the entire season."

Payne, 57, enters Thursday's rivalry game against No. 9 Kentucky at the KFC Yum! Center with an overall record of 9-34 at the helm of his alma mater. Under his direction, Louisville has lost as many games by 20 or more points as it has won while averaging crowds of only 6,434 scanned tickets at the 22,090-seat arena and dealing with drama off the court, most notably the botched handling of junior college transfer Koron Davis' dismissal from the team before losing by 12 to Arkansas State on Dec. 13.

In a story published Thursday for The Athletic detailing Payne's turbulent tenure, Brendan Quinn wrote that Heird "hasn’t discussed with Payne any assurance that he’ll make it to the end of this season."

With that in mind, here's a look Payne's contract, buyout clause and the money he would be owed if U of L fired him:

Kenny Payne's Louisville basketball contract details

Payne's contract pays 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 as a head coach, setting a Louisville record for most losses during a campaign.

How much is Kenny Payne's buyout?

If U of L were to fire Payne, it would owe him $8 million as part of a buyout agreement that started at $10 million and was set to decrease by $2 million each year of his tenure.

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 that is 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 if fired