Tom Allen net worth: Contract structure, salary and career earnings of former Indiana HC explored

Indiana football, in the hopes of creating a new era after seven years, has parted ways with head coach Tom Allen. Allen is credited with reviving the Hoosiers after joining the program in 2017. But a dismal 2023 season has become the cause of the end of the Allen era in Indiana.

The Hoosiers registered just three wins in the season and finished last on the Big Ten East table. They lost to the struggling Purdue Boilermakers on Saturday, their ninth defeat this year. The Hoosiers made their decision to part ways publicly on Sunday morning.

The firing of Tom Allen begs some questions about his contract with the Indiana Hoosiers. What is the structure of his contract, which he signed in 2019 after leading the team for two years? And what will be his buyout? Here is all we know.

Tom Allen's contract structure and net worth

Tom Allen signed a seven-year contract with the Indiana Hoosiers in 2021. The deal was worth $ 34.3 million, with his yearly salary up to $4.9 million. And the Hoosiers will have to pay a buyout of $20.8 million as they fired him before December 1, 2024. He would have owed the school $4 million had he left the program voluntarily.

His total net worth is difficult to ascertain, but some reports put it at $5 million. The details about the incentives in his contract aren't public to get a proper idea. He would have a few incentives due to solid performances in the past year. His career earnings are also not in the public domain.

Tom Allen's record with Indiana

Tom Allen first joined Indiana back in 2016 as a defensive coordinator. He got the head coaching job in 2017 after Kevin Wilson lost his job. And he did a commendable job with the team in the seven years of his reign.

He has a 33-49 record as the Hoosiers head coach, but it has worsened in the last three seasons. They have won just nine games in their past three seasons combined, and 2023 also ended with them holding a 3-9 record. Who will replace Allen in Bloomington, Indiana?