McElwain's buyout was $12.9 million, but ESPN reported Saturday that Florida officials were looking into whether McElwain could be fired for cause.
Update: Source tells FootballScoop Randy Shannon is expected to serve as interim head coach.
McElwain got into hot water on Monday when he steered the answer to an innocuous question into a diatribe about the pressures players, coaches and their families face in the modern day, specifically mentioning that death threats had been made to someone in that group.
However, McElwain won division titles in his first two seasons with Florida, becoming the first coach to do so since the conference went to a title-game format, and he was named the 2015 SEC coach of the year.
Policeman killed, militants escape during stone pelting
While talking about the militant deaths, the sources said "nothing can be said off right now". When firing in the area stopped, no militant body was recovered during searches at the site.
Randy Shannon, who spent four seasons as the head coach of the Miami Hurricanes and the six years prior as UM's defensive coordinator, was named Florida's interim coach after Jim McElwain was sacked Sunday.
McElwain's buyout is estimated at more than $12.75 million. After being throttled, 42-7, by No. 3 Georgia Saturday, Florida fell to 3-4 and 3-3 in SEC play. Look, we haven't been good on offense. "We've won a few games, but we haven't won enough. And I take full responsibility for all of it, no doubt". The 45-year-old Mullen was Florida's offensive coordinator under Urban Meyer and worked for Stricklin in Starkville, Mississippi. Florida will also have to buy out any assistants not retained by the next coach.
Other possible candidates: Syracuse's Dino Babers, Iowa State's Matt Campbell, Central Florida's Scott Frost, Washington State's Mike Leach, Southern Methodist's Chad Morris, Memphis' Mike Norvell and South Florida's Charlie Strong.