Indiana formally announces Tom Allen's firing, reveals financial agreement for buyout

Indiana has formally announced the firing of head football coach Tom Allen from the program, including how much the university will pay to out Allen for the rest of his contract.

The two parties have agreed upon a settlement of two installments of $7.75 million totaling $15.5 million that will be paid, in full, through donor funds provided by the university’s department of athletics. The buyout, which was originally slotted around $20.8 million, was negotiated down by IU.

If the nearly $21 million buyout had gone through, it would have been the third-highest buyout in college football history behind Jimbo Fisher ($76.8 million) and Gus Malzahn ($21.4 million).

The school also released a statement on the matter, via Indiana University Vice President and Director of Intercollegiate Athletics Scott Dolson. the IU VP noted that the search for a new head coach will begin immediately.

“After continued evaluation of our entire football program, I have determined that we have lost momentum and that a change in leadership is necessary at this time,” Dolson said in a press release. “I want to thank Tom for all of the contributions he has made to IU in his seven years leading our program. His passion, character, and class made a positive impact on our student-athletes. We wish him well in his future endeavors.”

The Hoosiers finished the 2023 regular season with the worst record in the Big Ten (1-8) while finishing the season 3-9 overall. What’s even more frustrating is the fact that IU began the season 2-2 and proceeded to finish 1-7 in its final eight games of the season. Their lone win came on Nov. 4 at home against Wisconsin.

Allen, who has been in Bloomington since 2017, was only able to lead Indiana to the postseason on two occasions in 2019 and 2020, respectively. In the three seasons since, the Hoosiers have failed to win more than four games in a single season, including a 2-10 season in 2021.

On paper, the change was necessary and with the Big Ten adding the likes of USC, UCLA, Oregon and Washington to the conference during the offseason — Indiana felt like a change was necessary for the Hoosiers to be able to compete in the ever-changing landscape of college football.

Indiana kicks off its 2024 campaign on Aug. 31. By the time they’re suiting up against FIU — and many changes are expected to be made between now and then.