GAINESVILLE, Fla. — Florida has announced it will pay former football coach Jim McElwain a $7.5 million buyout after dismissing him on Oct. 29, midway through his third season.
The announcement comes a day after the Gators formally introduced new head coach Dan Mullen.
McElwain was due a buyout of more than $12 million per the terms of his contract, but he and the school negotiated a separation agreement that will pay him $3.75 million on Dec. 1, $250,000 on Feb. 15, 2008, $1 million each on July 1 in 2018, 2019 and 2020 and $500,000 on July 1, 2021.
A clause in the agreement states that McElwain agrees “not to disparage or speak, write or otherwise communicate ill of, the University, the Association, and/or their former, current or future trustees, directors, officers, employees, agents, students, contractors, attorneys, contributors and/or fans, publicly or privately.”
McElwain signed the agreement on Nov. 21 while athletic director Scott Stricklin signed off on it Tuesday.
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