Florida, CSU, McElwain still negotiating in Colorado
The worst kept secret of the week in college football involves Florida athletic director Jeremy Foley, who flew across the country yesterday to reportedly offer the Gators’ head coaching job to Colorado State head coach Jim McElwain.
Foley and the UF contingent are still in Fort Collins, Colo., as of this morning and are continuing negotiations between themselves, McElwain and CSU.
UF AD Jeremy Foley at the home of CSU Rams head coach Jim McElwain presumably discussing #Gators job @TFrei #Gators pic.twitter.com/tLc6IjXKSP
— John Leyba (@Presto89) December 3, 2014
According to Bruce Feldman of Fox Sports, the three parties are in the “close to finalizing a deal” that would send McElwain to Florida to be the Gators next head coach.
The presumed holdup in contract negotiations stems from McElwain’s reported $7.5 million buyout within his contract with CSU.
Sounds like McElwain’s $7.5-million buyout could be an issue. It’s a huge buyout. — Robbie Andreu (@RobbieAndreu) December 3, 2014
There are reportedly several ways for Florida to reduce the buyout with CSU. Per Edgar Thompson of the Orlando Sentinel, one of those ways is for the Gators to schedule the Rams as a future football opponent.
One other reported tactic Florida could utilize is a portion of McElwain’s contract with CSU that allows the school to reduce the $7.5 million buyout if “a dream job” were to come along.
According to The Coloradoan, “there’s a provision that allows CSU President Tony Frank to reduce or eliminate the fee for ‘extenuating circumstances,’ should McElwain voluntarily step down as CSU’s football coach before his five-year contract is up.”
From The Coloradoan:
“Unfortunately in the meeting back in June during which Mac, Tony Frank and I were to sign Mac’s employment agreement, Tony agreed to reduce if not eliminate the breakup fee if a ‘dream job’ were to come along,” former CSU athletic director Jack Graham said. “Mac’s attorney asked me a number of times if we would carve out Alabama and other top head football coaching jobs from the breakup fee, and I declined to do so.”
It’s unclear what constitutes a dream job for the CSU head coach or if Florida even falls under that distinction.