Indiana has paid Tom Allen his $15.5 million buyout per terms of severance agreement

BLOOMINGTON – Per the terms of his severance agreement, former IU football coach Tom Allen should by now have received the balance of his $15.5 million buyout package, effectively concluding his relationship with the university.

According to that agreement, obtained via records request by IndyStar, the buyout was to be paid in two equal installments — one within 10 days of the effective date of the agreement (Nov. 26, 2023) and after Jan. 1 but before Jan. 5 of this year.

As previously reported by IndyStar, the buyout is not subject to any form of mitigation or offset requirement. Allen has since been hired as defensive coordinator at Penn State.

The agreement also includes a confidentiality agreement on Allen’s part, as well as a non-defamation provision.

IU has previously confirmed Allen’s buyout would be paid through athletics department donor funds.

Follow IndyStar reporter Zach Osterman on Twitter: @ZachOsterman.

This article originally appeared on Indianapolis Star: IU has paid Tom Allen his $15.5 million buyout per terms of severance