Jim McElwain has agreed to become the next head football coach of the Florida Gators, ending a brief standoff between Florida and Colorado State regarding McElwain's buyout, according to a report from Chris Low of espn.com.

McElwain, 52, has spent the last 3 years as head coach of the Colorado State Rams, leading them to a 10-2 record this season. He was named the Mountain West Conference Coach of the Year on Tuesday.

Florida athletic director Jeremy Foley flew to Fort Collins, CO. yesterday in hopes that a deal would be reached. The hold up has been Colorado State's insistence that McElwain's entire $7.5 million buyout be paid in its entirety by Florida.

That holdup has been settled at $5 million, according to multiple reports.

McElwain is no stranger to the SEC. He served as Alabama's offensive coordinator and quarterbacks coach from 2008-2011, helping the Tide win two national championships during his tenure on the staff.

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