Report: Jim McElwain still owes Colorado State $1,000,001
Former Florida head coach Jim McElwain still owes Colorado State $1,000,001, according to a report by the DenverPost.
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When Florida hired McElwain from Colorado State, the Gators and McElwain negotiated his buyout down to $7 million, according to the report. Florida would pay $3 million, in addition to the 2018 game in Gainesville for another $2 million. And McElwain would pay the remaining $2 million.
The report states that McElwain has paid $999,999 and is current on his payments, but he still owes the remaining amount over the next two years.
McElwain and Florida parted ways Sunday, and the Gators have been trying to negotiate McElwain’s reported $13 million buyout down. College football insider Brett McMurphy reported that McElwain would likely only receive about $4 million of his buyout.
It will be interesting to see where McElwain surfaces next in the coaching realm.