LSU coach Les Miles holds the crystal ball after the Tigers won the BCS championship in 2007. Miles will the seventh former LSU coach to enter the Louisiana Sports Hall of Fame at next year’s induction ceremonies. Miles is one of eight in the upcoming Hall of Fame class.

BATON ROUGE — The Mad Hatter may be soon returning to the sidelines. 

Former LSU head coach Les Miles agreed to a one-time lump sum settlement with the university that fired him during the 2016 season. Miles was still owed $6.5 million from the buyout resulting in his firing but has agreed to settle for $1.5 million.

The original agreement would have paid the national title-winning coach monthly payments of at least $133,000 until 2023.

In a statement on Thursday, LSU Athletic Director Joe Alleva said it was the right time for the move.

“It’s time for both parties to move forward,” Alleva wrote. “One of the challenges of the buyout that was in place was there just wasn’t a lot of incentive to move on to other things. We were looking to provide that and Coach Miles and his representatives also were ready. It was a mutually agreed upon goal and a very positive process from beginning to end.”

The settlement was fully executed Thursday.

Miles name has been mentioned as a possible candidate for the impending Kansas University head coach vacancy, as well as rumored possible vacancies at Colorado and Purdue.

During his 12-year tenure with the Tigers, Miles went 114-34 overall, winning the 2007 BCS National Championship, two SEC championships, and led the team to the 2012 BCS National Championship Game — losing to Alabama.