Ed Orgeron's final scheduled game at LSU will come in a bowl game around the holidays, but he will remain on the university's payroll well beyond this winter.
LSU formally announced Orgeron's coming departure on Sunday, formalizing an agreement that began following the club's 42-21 loss to Kentucky last Saturday.
"We have very high standards for all our sports programs at LSU, and we will stand proudly behind our expectations of competing for SEC and national championships year in and year out," AD Scott Woodward said in a statement. "Our last two seasons have simply not met those standards, and based on our on-field results and our evaluation of the potential for future immediate success, it is time for a new direction."
Orgeron and Woodward sat side by side at a press conference Sunday evening, and both sides portrayed the coming split as amicable. "Ed Orgeron is a friend. We are Louisiana guys through and through," Woodward said. "I love LSU," Orgeron said. "I have no regrets. I know I went to work and tried as hard as I could every day, and that's all you can ask."
A large part of the reason this split is so friendly is because of the money. Orgeron has been fired without cause, meaning he will receive just south of $17 million paid in installments spread from Dec. 15 of this year all the way through December 2025.
The payments will be split between Orgeron and his LLC, with two thirds going directly to his coach and one third to the LLC. The first payout will be $5 million, with another $667,000 payout following a month later.
Orgeron said, as of today, he does not plan to coach next season. He'll take some time to unwind, spend time with his three sons. "I think I'll have me enough money to buy a hamburger," he said.