Indiana University and Dan Dakich have cut ties with one another.

On Thursday, the University and Dakich reached a financial settlement that will pay the former interim coach $185,000, the salary he was scheduled to earn next season, according to the Associated Press.

IU spokesman Larry MacIntyre confirmed the deal to the AP. Dakich was set to earn a base salary of $110,000 with a supplemental bonus of $75,000.

Although he was under contract, it was widely assumed Dakich would leave the Hoosiers before the upcoming season to pursue other coaching opportunities.

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