Tom Allen contract buyout: How much does Indiana owe their former HC?

After ending the 2023 regular season with a 3-9 overall record, the Indiana Hoosiers have decided to part ways with head coach Tom Allen after seven years. After spending a season as the defensive coordinator in 2016, Allen was promoted to head coach a year later.

Tom Allen initially had a decent start and led the Hoosiers to national prominence in the pandemic-shortened 2020 season.

The team finished 12 nationally back then, their best season since 1967. However, the past three seasons have been disappointing for Allen, with the Hoosiers managing only a 9-28 overall record after their week 13 loss to Purdue. So how much money does the program now owe Allen?

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Tom Allen's contract buyout

Tom Allen's contract buyout was set at $20.8m if the head coach was fired before December 1, 2023. After his success in the 2020 season, Indiana offered Allen a seven-year contract extension. His annual salary was also increased to $40.9 million.

Thus, Indiana will be paying Allen his full remaining compensation as they set out on a hunt to search for its next head coach.

Allen's job security was already in question after a disappointing performance so far this season. And the 35-31 loss to Purdue was the final straw for the program. Furthermore, Allen's buyout is one of the most expensive in college football history.

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Tom Allen's record with the Indiana Hoosiers

Allen was initially hired as the defensive coordinator in then-coach Kevin Wilson's staff. And after Wilson's sudden resignation, Allen was named as the replacement in December 2016.

In his debut season as head coach, Allen led the Hoosiers to a 5-7 overall campaign. However, the 53-year-old spent his initial days with Indiana improving their recruitment structure. The first two seasons under Allen saw a record number of students earn conference honors while also being drafted or invited to NFL camps.

During the 2019 season, Allen led the Hoosiers to their first eight-win season since 1993. The Hoosiers finished with an 8-5 overall record and were ranked 24 in the AP Poll, their first top 25 ranking since 1994.

Unfortunately, things started to take a different turn starting in the 2021 season. The team failed to win games and a major off-season overhaul took place last year when more than 30 seniors and juniors left the program.

As Tom Allen departs from Indiana, it will be interesting to see who the program hires to lead the Hoosiers to glory once again.