Dec 4, 2014 11:38 AM
GAINESVILLE, Fla. (AP) - After working though a buyout issue, Jim McElwain is leaving Colorado State to become Florida's next head coach.
The Gators announced the hiring Thursday at the same time McElwain started a team meeting with players and assistants.
McElwain accepted the job after getting his $7.5 million buyout reduced, a person familiar with the search said. The person spoke to The Associated Press on the condition of anonymity because the Gators have not announced details of their coaching search.
The Denver Post reported that Florida will pay $5 million and schedule the Rams for a future game in Gainesville. Colorado State will get $2 million for that game.
The person said Florida will spread the $5 million out with payments, which will ease the immediate financial impact of the coaching change.
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