Source: 'Good possibility' that LSU buys out Les Miles' contract

— -- There is "a very good possibility" that the  LSU Tigers will buy out Les Miles' contract, a high-ranking source involved in the decision regarding the coach's future told ESPN on Monday.

"In Louisiana, we expect national championships, and we're not in it," the source said, adding that meetings are occurring Monday that could lead to a quick resolution.

A failure to beat  Alabama and what is believed to be an underachieving, vanilla offense are major factors, according to the source. 

The Tigers (7-3, 4-3) are coming off consecutive losses to Alabama,  Arkansas and Ole Miss -- the first time the program has lost three in a row since 1999. LSU, which dropped out of the AP poll on Sunday, also was unranked at the end of the 2014 season.

LSU hosts  Texas A&M on Friday.

Boosters have already agreed to pay the $15 million to $20 million needed to buy out Miles and his staff, the source said.

Miles, coming to the end of his 11th season at LSU, has won a national championship, two SEC championships and averaged 10 wins per season while producing 64 draft choices.

He has a 110-32 record at LSU, and his .775 winning percentage is the best of any LSU coach -- including Nick Saban (.750) -- in the past century. Overall, Miles has a 60-27 record in SEC play.

"If we were competing for a national championship this year, well then we wouldn't be having this conversation," the source said.