On Tuesday afternoon Scott Stricklin signed Jim McElwain’s buyout that will pay the former Florida Gators head coach $7.5 million dollars in six installments through July 2021.
McElwain signed the agreement on November 21 but the document needed Scott Stricklin’s signature to be official. Stricklin signed it a day after he and the Gators officially introduced Dan Mullen as the Florida Gators new head coach.
Per the terms of his contract with Florida, McElwain was due more than $12 million dollars when he was fired on October 30 of this year. He and the school negotiated that sum down. In the new agreement there is a clause where McElwain agreed “not to disparage or speak, write or otherwise communicate ill of, the University, the Association, and/or their former, current, or future trustees, directors, officers, employees, agents, students, contractors, attorneys, contributors, and/or fans publically or privately.”
Here is the breakdown of McElwain’s buyout payments
December 1, 2017: $3.75 million
February 15, 2018: $250,000
July 1, 2018: $1 million
July 1, 2019: $1 million
July 1, 2020: $1 million
July 1, 2021: $500,000