Texas A&M closing in on buyout of Franchione's contract

Texas A&M coach Dennis Franchione is at least "on the verge" of accepting a buyout, a source told CBSSports.com.

Another source had indicated earlier Monday that Franchione already has accepted the buyout, but later said he received conflicting reports.

Dennis Franchione came to College Station having just guided 'Bama to a 10-3 season. (Getty Images)

It is not initially clear if Franchione will remain as coach through the remainder of the season. As CBSSports.com reported two weeks ago, Franchione began speaking to school officials about his buyout.

The school says it will wait until the end of the season before deciding Franchione's future. The coach was rebuked this year for allowing boosters to buy information about his players.

The Aggies have underachieved in Franchione's five seasons, losing ground to the elite teams in the Big 12 and slipping out of the national spotlight. His standing clearly was undermined by the discovery of subscription e-mails to boosters that gave information about players. Franchione's contract paid him more than $2 million a year and ran through 2012.

The school has denied any buyout of Franchione's contract is imminent.

"There are several false rumors circulating regarding the Texas A&M football program," the school said in a statement.

Athletic department spokesman Alan Cannon said athletic director Bill Byrne will wait until after the season to evaluate Franchione, as he does with all coaches.

"I have received no indication that he has changed his stance," Cannon said.

Franchione has a 31-28 record at A&M and is 2-12 against main rivals Texas, Texas Tech and Oklahoma. A&M plays Missouri on Saturday.

On Sept. 20, the Aggies lost 34-17 to Miami on national television. A week later, a newspaper revealed a series of e-mails that Franchione had been sending to boosters, who paid $1,200 to receive them. The e-mails contained news about players' injuries, their academic standing and Franchione's blunt assessments of their skills.

Byrne was never aware of the e-mails until a newspaper reporter asked about them. On Oct. 11, Byrne admonished Franchione, ordered him to shut down his personal Web site and fired Mike McKenzie, Franchione's longtime personal assistant and author of the e-mails.

The school began an internal investigation and reported the findings to the NCAA, acknowledging possible rules violations. A&M is awaiting a response from the NCAA.

Byrne said the scandal would be part of Franchione's postseason evaluation.

"The Aggies are embarrassed right now," Byrne said on Oct. 11. "This has been a very unfortunate incident we do not want to experience again."

The Associated Press contributed to this report.