UF reveals details of Jim McElwain buyout, Dan Mullen contract

The University Athletic Associated released details of new head coach Dan Mullen's contract as well as former coach Jim McElwain's buyout on Tuesday.

As was reported Monday, Mullen will make roughly $6 million per year for six years.

Half of Mullen's $6 million comes from a base salary of $3 million, while the rest comes in the form of media deals ($1.75 million), equipment deals ($700,000), expense account ($200,000), the team's Nike deal ($350,000), airplane use ($70,000) and pension ($33,000).

In total, Mullen's deal comes to $36,618,000 over six years.

Mullen can make up to $925,000 in incentive-based bonuses for the following:

* Make the SEC Championship Game ($100,000)

* Win SEC Championship Game ($200,000)

* Make a bowl game ($100,000)

* Make Big 6 bowl ($200,000)

* Make College Football Playoff ($250,000)

* Make CFP Championship Game ($300,000)

* Win CFP Championship Game ($400,000)

* SEC Coach of the Year ($50,000)

* National Coach of the Year ($75,000)

* Top-10 finish ($100,000)

* Academic ($100,000)

Florida's assistant coaching salary pool will also be $5 million.

If Mullen is fired, he will be owed $12 million or the amount left on his contract, whichever is lower. If he leaves on his own, he owes UF $2 million.

His predecessor, Jim McElwain, will receive a $7.5 million buyout, negotiated down from the $12.9 million in his contract.

Half of the sum, $3.75 million, will be paid to McElwain on Dec. 1, 2017. Here is the schedule for the remaining payments:

* Feb. 1, 2018: $250,000

* July 1, 2018: $1 million

* July 1, 2019: $1 million

* July 1, 2020: $1 million

* July 1, 2021: $500,000

The buyout agreement was drafted on Oct. 29 ending McElwain's UAA employment on Oct. 30. McElwain signed the document on Nov. 21 while Florida athletic director Scott Stricklin did not sign until Tuesday.

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