The couple posted the announcement on a Web site and said they plan to move as soon as they sell their home.
``We have both taken jobs that will take us elsewhere and are excited about this next chapter in our lives,'' the site's message read. ``The events over the past months have been horrible, but they do not outweigh all the wonderful things that happened to us in Athens. The lawsuit will continue of course, but we'll be monitoring it from a distance.''
Braswell coached cheerleading at UGA for 12 years, but was fired in August for allegedly retaliating against a Jewish cheerleader who accused her of discrimination.
Braswell has denied the charges. She sued the school and appealed her termination. In December, a federal judge refused to temporarily reinstate her during the legal battle.
UGA claims Braswell owes the school more than $300,000 from cheerleading camps she hosted last summer.
Braswell is an Athens native and was a cheerleader at the school from 1976-79 while she attended the school. Her husband, Matt, played football at UGA.