Chip Kelly’s deal to become UCLA’s head coach will save the 49ers approximately $7.5 million, according to a source familiar with his contract situation.

“Chip did the 49ers a solid,” the source told NBC Sports Bay Area.

The 49ers fired Kelly at the conclusion of the 2016 season after he served just one year of his four-year, $24 million contract. The 49ers’ future financial commitment to Kelly is offset by the contract he signed with UCLA.

UCLA on Saturday announced the agreement of a five-year, $23.3 million contract with Kelly. The school also announced a $9 million “reciprocal buyout,” which has no impact on the 49ers’ payments to Kelly. The reciprical buyout refers to the compensation required if UCLA fires Kelly or he leaves the school early for another job.