PITTSBURGH — Rumors of a $600,000 buyout of West Virginia head football coach Bill Stewart are swirling and picking up speed.

It appears WVU athletic director Oliver Luck has finished his investigation and determined that Stewart should be fired. In turn, Dana Holgorsen will move from his offensive coordinator position to head coach for the upcoming season.

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Apparently the only thing holding this back from becoming official is terms on a confidentiality agreement.

UPDATE 6/10 @ 10:10 a.m. — Stewart reportedly has a meeting scheduled for some time this morning with the university.

UPDATE 6/10 @ 3:45 p.m.Stewart has changed lawyers, firing David Hendrickson and hiring Michael Benninger.

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UPDATE 6/10 @ 4:00 p.m. — Scratch the add-on from my previous update. Gold And Blue Zone reports that confirmation of Stewart’s firing is expected in the next half hour. There is then expected to be a press conference announcing the change. That report has been confirmed by SBNation WVU blog the Smoking Musket.

There’s no word yet on whether Holgorsen’s salary would take an immediate jump to what he’s owed next year if Stewart is fired — the predetermined start of his head coaching career — which would make him the highest paid man in the state of West Virginia.

Stewart and his wife, Karen, have been accused of spreading rumors and attempting to fabricate stories regarding Holgorsen and his character in order to get him fired. Holgorsen was tabbed as the coach-in-waiting behind Stewart for the 2011-12 season. He would then assume the head coaching duties after the 2012 season.

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Chris Gates | Area 4-1-Zoo Blog