Jim McElwain’s negotiated buyout with the University Athletic Association is for $7.5 million, the school announced Tuesday.
McElwain’s buyout was negotiated down from $12.9 million when he and Florida agreed to part ways a month ago.
McElwain will receive six payments from UF over the next four years. The first payment of $3.75 million is due Friday.
The other payments to McElwain are as follows:
Feb. 15, 2018 — $250,000.
July 1, 2018 — $1 million.
July 1, 2019 — $1 million.
July 1, 2020 — $1 million.
July 1, 2021 — $500,000.
Both sides also agreed not to disparage each other verbally or in writing.
Florida also owes buyout money to former coach Will Muschamp, who was fired during the 2014 season. Muschamp is due one more payment of $787,500 next year.
UF also released more financial details of new head coach Dan Mullen’s contract.
His salary over six years is for $36,618,000, giving him an annual salary of $6,103,000, making him the second-highest paid coach in the SEC behind Alabama’s Nick Saban and fifth in the nation.
Mullen also has been allotted $5 million for hiring assistant coaches.
The school also released Mullen’s performance bonuses that total $925,000. He would receive $400,000 if the Gators win the College Football Playoff and $300,000 for making the four-team playoff. Mullen would make $100,000 for winning the SEC East and $200,000 for winning the SEC title. The bonus for reaching a big six bowl game is $200,000.
If he is named SEC coach of the year, he receives $50,000, and $75,000 for being named national coach of the year.
His bonus for the Gators finishing in the final Top 10 is $100,000.
And the players get what? Oh yes, concussions.
Leonard, that’s not an opinion, and it not’s even accurate. The student-athletes get 100 of thousands of dollars in tuition, books, free medical, free housing, and national exposure on the SEC Network, ESPN, ABC, etc… All of which the average student never gets. Where’s all the outrage for MMA kick-boxing concussions? Or BMX concussions? Or even ballet concussions?
I’ve found the pro college player compensation people trend toward never having been to college.
That would buy a lot of BBQ sauce. Pretty cool, huh?
What a phony.
Best reply ever, Pat.
Best comment ever!
I attended my first UF game in 1963, and was a significant booster and season ticket holder from 1977 until 2016. I’m also a damn strong supporter of the free market, but when classic examples of the Peter Principle, like McelGoober and Muschump, get the millions of dollars quoted in this article to go away peacefully; well all of our priorities need to be re-evaluated.
Almost as sickening as Dooley’s performance at Dan’s welcoming PC. I’ve never encountered a journalist so impressed with himself for no apparent reason.
And Dooley still has never addressed writing that free ad “story” for Mac’s jerk sauce. I really thought better of him, still can’t believe he would do that. Gross.
McElweenie probably gave him a free pallet of the stuff.
Reminds me of Wall Street CEO’s. Do a crappy job and get paid millions to leave.
UF AD’s did VERY POOR job with both Muschump’s and the BBQ guy’s contract extensions. They were O for 2 and wasted millions!!!!!!!
Why are the paying him a dime….who negotiates these buyouts….he fabricated a story and left the program in shambles…..so he sues the University….so what?
UF shouldn’t have paid him anything! Let the courts in Gainesville decide what he should get if anything! Remember he slandered our calm & timid fan base! Maybe now he can afford a dental cleaning & whitening!
Agree, they used his fake and defaming “death threats” to negotiate him down but I would rather they would have fired him for cause and let him try to prove it to the courts, i think he would have lost and they would have saved a bundle!
Buyouts, unbelievable. Do a lousy job, get fired and get $7.5 Million. Boy did I choose the wrong profession
Damn, it says a lot when some one pays that kinda money, just to get him out of our sight, not my money but probaly worth it to see him gone.
Money well spent both times!
They should have sued him for misrepresentation. He presented himself as a competent coach.
Still can’t believe athletes don’t get some form of extra compensation. Football, and you can argue basketball, are the beating heartbeats of the campus. Throw them a freakin’ bone. Coaches and Administrators get paid millions…athletes receive free “education” and lousy dorm food. It’s the 21st century…pay them something…even if it’s miniscule relative to head coach’s compensation.
Sure, let’s pay them, and then have them pay for their own college education, books, fee’s, food, housing and everything else all the other students have to do. If they squander their pay and can’t pay for school then help them get loans so they can be in debt for years afterward also.
They pretty much get anything they want, within reason, and have literally zero costs for the entire time they are in the program, including access to great medical, vision and dental plans. So other than “splurge”, impulse and peer pressure buys, what else do they actually need? It’s not like the smart ones won’t take advantage of their time at UF, even if they don’t go pro, to make connections and get a degree in a field they can be successful at.
The players get a scholarship to one of the finest University in the country, books, they eat on a Buffet daily, some get help with housing. Send your son or daughter to the University of Florida and you will see what the players get.
I thought sure the buyout would be include placement in a witness protection program to avoid the possibility of harm coming to him.
In other news ticket prices and Booster contributions are going up again. We really didn’t need those new facilities any way
You aren’t “We” Nolie Queen.
How’s life under the bridge?
And yet, “I want to see the market self correct large buyouts of coaches” says Scott Stricklin…to the tune of 12 million flat buyout of Mullen when we have to send him packing in 4-5 years. Wonderful.
Lots of popcorn with that buyout. Good luck to Coach Mac & his family with those millions. It’s amazing the money coaches are making today. Hope Coach Mullen makes it thru his 6yr contract & gets an extension. Go Gators!
These numbers simply reflect the inherent inflation of a monetary system based on Fiat (Fake) Money. Too bad Austrian Economics is not taught on the UF campus. Someday it will be.
The buy out for a coach should have same monetary value as a penalty for a coach leaving early. I think it would help to lower overall value if it was handled like that, but until all institutions implement the same type of philosophy you will have have to continue to implement them while hiring a coach. Question was it Foley or Stricklin who awarded Mac’s extension?
And you can thank only 1 person who made all these amazing payments possible: Jeremy Foley
it seems funny that mullen got 5 million for assistants, mac really, I don’t think he had anything near that. so maybe that’s why mac made the comment about administration support after he got a raise.
we can see already upgrades of several areas in terms of status of coaches, wide receiver and offensive line.