Former Arkansas Razorback head football coach Houston Nutt agreed to a $4.35 million buyout with the University of Mississippi as announced on Saturday.
Per a statement released by Ole Miss Athletic Director Ross Bjork, the deal was agreed upon in Dec. 2012. The one-time payment to Nutt will be paid through private funds associated with the University of Mississippi athletic department.
Had Ole Miss kept Nutt on contract without dismissing him, Nutt would have earned a total of $6 million.
Nutt was the head coach at Arkansas from 1998-2007 before taking the head coaching position at Ole Miss. Nutt was at Ole Miss for four years having great success during his first two season compiling a 9-4 record each year ending in Cotton Bowl wins.
During his last two seasons Ole Miss regressed terribly posting a 4-8 record in 2010 and a 2-10 record in 2011. Over his last two seasons the Rebels posted one win against 15 losses in SEC play.
Nutt currently works for CBS as a studio analyst.