LOS ANGELES (CBSLA) — Chip Kelly will be the next head coach of the UCLA Bruins, the school announced Saturday morning.

Kelly agreed to a five-year contract worth $23.3 million with a $9 million reciprocal buyout.

“I am thrilled to welcome Chip Kelly to Westwood,” said UCLA Director of Athletics Dan Guerrero in a statement. “His success speaks for itself, but more than that, I firmly believe that his passion for the game and his innovative approach to coaching student-athletes make him the perfect fit for our program.”

Kelly will be formally introduced to the UCLA community and to media on campus Monday afternoon.

“It is an absolute honor to join the Bruin Family, and I am grateful to Chancellor Block and to Dan Guerrero for this incredible opportunity,” said Kelly in a statement. “UCLA is a world-class institution with a distinguished history in athletics, and we will do our part to uphold its tradition of excellence.”

UCLA was inching closer to hiring Kelly following earlier reports that Florida was moving on from considering Kelly for their head coaching position.

Jedd Fisch took over as interim head coach of the Bruins after Jim Mora was fired Sunday in his sixth season at the school.

UCLA beat Cal 30-27 Friday to improve to  6-6 overall and 4-5 in the Pac-12 Conference. Importantly, the victory makes the Bruins bowl eligible.

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