Jim McElwain may only receive a fraction of his buyout

Florida said in a statement on Sunday that a buyout agreement with Jim McElwain has not been reached, but one report says the former Gators head coach may only receive a fraction of his buyout.

On Sunday, the day after Florida lost 42-7 to Georgia, McElwain was fired as head coach of the Gators. He will be replaced on an interim basis by former Miami head coach Randy Shannon.

McElwain’s buyout was nearly $13 million. However, as college football insider Brett McMurphy shares, it’s likely McElwain will receive far less than that in part because of his death threat allegations. Florida believes that McElwain could have violated part of his contract by saying last week that players and coaches have faced death threats and not being able to provide proof of such threats.

Though McElwain could pursue the full amount of the buyout, McMurphy believes that he may not do so in large part because his agent may desire to preserve a strong relationship with Florida. McElwain’s agent, Jimmy Sexton, also represents Mississippi State head coach Dan Mullen, who is expected to be a candidate for the job.

McMurphy also reported the following details on how McElwain is expected to receive his buyout.

Both Florida and McElwain, who came to UF from Colorado State, each still owe CSU $1.5 million. One source said UF will likely give McElwain at least $4 million – $3 million to pay off what’s owed to CSU by UF and McElwain, with the other $1 million going to McElwain.

After three seasons at Colorado State, McElwain joined Florida in 2014. In his first two seasons, he led the Gators to a 19-8 record, two trips to the SEC Championship Game, and two bowl appearances. This season, Florida was 3-4 under McElwain, including losses in his final three games. They dealt with multiple suspensions over a fraud scandal, which McElwain said hurt the locker room.