College Football Team Getting Paid Record $2 Million For Game This Weekend

first_imgAn interior view of the Florida Gators football stadium.GAINESVILLE, FL – SEPTEMBER 10: A general view as the University of Florida Gators takes on the Louisiana Tech Bulldogs at Ben Hill Griffin Stadium on September 10, 2005 in Gainesville, Florida. Florida defeated Louisiana Tech 41-3. (Photo by Doug Benc/Getty Images)Jim McElwain was fired from Florida last year, but the Gators are very much still paying for his tenure, especially with this weekend’s game against Colorado State.Colorado State did a great job on McElwain’s contract when he was head coach of the Rams.He became a hot commodity after a 10-2 2014 season, his third with CSU. He had steady progress, going from 4-8 in his first year, to 8-6, to that 10-win season, which led to him being hired by the Gators.As part of the $7 million buyout Florida paid to Colorado State, the Gators will pay their visitors a record $2 million for this weekend’s game. ESPN has more on the $2 million deal between Florida and Colorado State.The Gators will be paying off their $2 million guarantee to the Rams — the largest single-game payout that any one school has paid to another.[…]“We’re getting paid $2 million?” Rams coach Mike Bobo said. “That’s good.”The previous record for a single-game guarantee that any one school has paid to another without getting any compensation in return was $1.7 million, which Ohio State gave Oregon State earlier this season and will be matched in three other games later this season.McElwain looked to be continuing his success at Florida at first, going 10-4 in his first year in Gainesville. Things slid a bit in year two, despite another SEC East title, and in year three, it became clear that he wasn’t figuring out the long-struggling Gators offense.He finished with a 22-12 (16-8) record in two-plus years at UF.Florida is 1-1 on the year, after falling to Kentucky for the first time in over three decades last weekend. Colorado State is 1-2, but coming off an upset win over another SEC squad, Arkansas.[ESPN]last_img read more

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Rio Tinto invests 310 million for Pilbara iron ore coastal water project

first_imgRio Tinto will invest $310 million to assure a sustainable water supply for its iron ore operations in the Pilbara region of Western Australia, ensuring a sufficient resource to accommodate the expansion of annual production capacity up to the planned 333 Mt/y. The coastal water supply project, which involves construction of a new borefield and pipeline system, will be completed by mid-2013, coinciding with the first ore from the planned increase in production capacity to 283 Mt/y. Rio Tinto will build, own and operate the new borefield, located in the lower Bungaroo Valley, 35 km southeast of the town of Pannawonica, with an annual capacity of 10 gigalitres.Under the proposal, which has been agreed in principle with the Government of Western Australia, Rio Tinto will surrender its existing priority entitlements to the Millstream water supply, the system Rio Tinto constructed and financed 40 years ago. In return, the Government has agreed to amendments to secondary processing obligations.Rio Tinto chief executive, Iron Ore and Australia, Sam Walsh said “The decision is a major boost to our operational capability and an important investment to support our Pilbara expansion. We will ensure the future reliability of our water supply without any interruption to current operations.“This decision will provide significant benefits for the communities of the Pilbara region and represents a huge vote of confidence in the coastal communities of Dampier, Karratha, Wickham, Roebourne and Port Samson – towns for which Rio Tinto has supplied critical infrastructure since the Pilbara was developed. By freeing up water supply for our growing communities this project will support the Government’s ‘Pilbara Cities’ initiative”.last_img read more

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