ESPN: UF refuses to pay entire buyout, deal with CSU, McElwain 'on hold'
According to ESPN’s Brett McMurphy and Chris Low, Florida and Colorado State have not yet found a way to agree upon the buyout for head coach Jim McElwain.
UF, McElwain deal on hold because CSU won’t accept less/UF won’t pay full $7.5M buyout sources told @ESPN http://t.co/Zf5zWt54fg
— Brett McMurphy (@McMurphyESPN) December 4, 2014
The three-year head coach signed a contract extension with CSU back in August which included a $7.5 million buyout.
Per ESPN’s report Florida athletic director Jeremy Foley traveled to Fort Collins, Colo., “under the impression that there were provisions in McElwain’s contract that would allow him to leave for a lower buyout.”
However, the CSU President, Tony Frank, isn’t budging and is refusing to accept anything less than the $7.5 million buyout that McElwain agreed to back in August.
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Until some resolution can be made between CSU and Florida in regard to UF paying a lower buyout, there is pessimism among Florida officials that the deal won’t get done, according to what sources told ESPN.