ESPN’s College Football Live is reporting that Texas A&M Head Football Coach Dennis Franchione has agreed to a buyout. I haven’t seen anything official online, but according to this story on ESPN.com:
Texas A&M is reportedly researching whether Franchione violated his contract with the income he received from the newsletter. If he is found in violation of the contract, the Aggies may not have to pay the coach anything upon firing him.
Franchione’s contract pays him $2 million per season and runs through 2012. A buyout will be $141,667 per month for the remainder of the contract, or about $8 million. Ware reported Monday that Texas A&M is looking for a buyout in the $2 million range.
Rumors are that Coach Fran will resign tomorrow. Tommy Tuberville is rumored to be his successor.
Updates after the jump.
Edit:Â Dennis Dodd of CBS Sportsline is reporting this is a done deal:
Dennis Franchione agreed to a buyout Monday from Texas A&M and is out as coach. It was not initially clear if Franchione will remain as coach through the remainder of the season.
Edit #2: More details from the Houston Chronicle:
Franchione is expected to coach the Aggies’ two remaining games and a possible bowl game.
Franchione is expected to announce he is stepping down during the bye week after the Missouri game, but that could be moved up because of the distraction the speculation could bring during preparation for the Tigers.