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Baylor and Art Briles have reportedly settled, and soon, the two sides will part ways for good.

According to USA Today's Dan Wolken, a settlement between the two sides is "complete pending approval by the Board of Regents." The vote by the regents, plus an official announcement, has not been made, though Wolken added that could come as soon as Friday afternoon.

Jason King of Bleacher Report first reported a settlement was coming on Friday morning.

Briles is said to have about $40 million remaining on his contract over eight years. As a private institution, Baylor does not have to release the terms of the settlement.

The timing of the reported agreement is interesting to say the least. Thursday, an attorney for Briles filed an emergency motion in Waco's federal court claiming Briles was wrongfully terminated. That motion aimed to block Baylor from using the same lawyers who are representing both the school and Briles in a civil rights lawsuit brought by one of the victims of sexual assault by a Baylor football player.

"The conclusion is inescapable that the motive of Baylor University and the Board of Regents was to use its Head Football Coach and the Baylor Athletic Department as a camouflage to disguise and distract from its own institutional failure to comply with Title IX and other federal civil rights laws. It is equally clear from the actions of Baylor University and the Board of Regents," the motion stated.

Wolken noted the motion, withdrawn on Friday, appeared to be "mainly a leverage play in settlement talks."

Though Briles and Baylor are heading down a path towards permanent separation, reports briefly surfaced earlier this week that university brass were considering a one-year suspension for Briles, who was officially "suspended with intent to terminate," instead of being directly fired. However, Wolken has maintained those in favor of such a move were "considered to be on the margins" and that no vote ever took place.

Once Briles' termination does become official, he will join two other high-profile Baylor figureheads who are gone in the wake of the Pepper Hamilton report and Baylor's subsequent Findings of Facts. Athletic director Ian McCaw resigned after he was sanctioned and placed on probation. President Ken Starr was reassigned to chancellor, from where he resigned less than a week later. Starr, however, remains employed through the university's law school.

Briles was 65-37 in eight seasons at Baylor, reviving a program that had gone 31-94 the previous 11 seasons under three different head coaches. He was 50-15 since 2011 with four double-digit win seasons in five years, leading the Bears to consecutive Big 12 titles in 2013-14, the latter of which Baylor shared with TCU.

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Art Briles sent a text to his players prior to the news being made public of his firing. USATSI