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We perform ultrasound velocity measurements on a single crystal ofnearly-metallic spinel Co$_{1.21}$V$_{1.79}$O$_4$ which exhibits aferrimagnetic phase transition at $T_C \sim$ 165 K. The experiments reveal avariety of elastic anomalies in not only the paramagnetic phase above $T_C$ butalso the ferrimagnetic phase below $T_C$, which should be driven by thenearly-itinerant character of the orbitally-degenerate V 3$d$ electrons. In theparamagnetic phase above $T_C$, the elastic moduli exhibitelastic-mode-dependent unusual temperature variations, suggesting the existenceof a dynamic spin-cluster state. Furthermore, above $T_C$, the sensitivemagnetic-field response of the elastic moduli suggests that, with the negativemagnetoresistance, the magnetic-field-enhanced nearly-itinerant character ofthe V 3$d$ electrons emerges from the spin-cluster state. This should betriggered by the inter-V-site interactions acting on the orbitally-degenerate3$d$ electrons. In the ferrimagnetic phase below $T_C$, the elastic moduliexhibit distinct anomalies at $T_1\sim$ 95 K and $T_2\sim$ 50 K, with a signchange of the magnetoresistance at $T_1$ (positive below $T_1$) and anenhancement of the positive magnetoresistance below $T_2$, respectively. Theseobservations below $T_C$ suggest the successive occurrence of an orbital glassyorder at $T_1$ and a structural phase transition at $T_2$, where the ratherlocalized character of the V 3$d$ electrons evolves below $T_1$ and is furtherenhanced below $T_2$.

A variety of elastic anomalies in orbital-active nearly-itinerant cobalt vanadate spinel