Louisville basketball money owed with Pat Kelsey contract, Kenny Payne buyout, Chris Mack

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Louisville men's basketball has its new head coach — and more checks to write.

Charleston's Pat Kelsey will be named Kenny Payne's successor at a news conference after a meeting of U of L's Athletic Association Executive Committee and Board of Directors at 3 p.m. Thursday, a source with direct knowledge of the deal confirmed to The Courier Journal.

Kelsey, 48, owns a 261-122 record, a .681 winning percentage and four NCAA Tournament appearances across 12 seasons of coaching, nine at Winthrop (2012-21) and three with the Cougars (2021-24).

Here's a look at how much money the Cardinals owe Charleston after poaching Kelsey — and other men's basketball coaches who are still on the books:

Pat Kelsey's buyout

Kelsey's buyout was $1.1 million through the end of his contract in 2028, per Steve Berkowitz with USA TODAY Sports.

The Cincinnati native signed a five-year contract extension last February. According to a news release from Charleston Athletics, he earned $1.1 million annually; $600,000 in base salary supplemented by $500,000 in private funds.

Kelsey leaves the Cougars — his second head-coaching gig — with a 75-27 record, a .735 winning percentage and two NCAA Tournament appearances, both of which ended in first-round exits.

Kenny Payne's buyout

Louisville is paying Payne a total severance amount of $7,250,000, according to a copy of the separation agreement obtained by The Courier Journal via an open records request.

The payments of $201,388.88 began "on or about" April 1, the agreement says. They'll end "on or about" March 31, 2027.

Chris Mack's buyout

When Louisville parted ways with former coach Chris Mack on Jan. 27, 2022, it agreed to a $4.8 million severance package.

It's being paid in monthly increments of $133,333.33 until Jan. 31, 2025.

Reach Louisville men's basketball reporter Brooks Holton at bholton@gannett.com and follow him on X at @brooksHolton.