Florida Reaches Buyout Agreement With Jim McElwain

ESPN is reporting that Florida and former Gators coach Jim McElwain have agreed to a $7.5 million buyout.

The buyout will be spread out between now and 2021 and with his first installment, a $3.75 million "transition payment," coming this Friday.

quote:

---

McElwain's original buyout would have been a little more than $12.5 million, but the team and coach negotiated the new figure after he failed to produce evidence of alleged death threats in late October.

McElwain will now get six total payments. After Friday's installment, he will get $250,000 on Feb. 15, 2018, and $1 million each July 1 in 2018, 2019 and 2020. He will get a final payment of $500,000 on July 1, 2021.

Both sides also agreed not to disparage each other verbally or in writing.

---