Jim McElwain is out as Florida head coach, and defensive coordinator and former Miami head coach Randy Shannon will serve as interim head coach.

Mixed reports surfaced on whether McElwain was fired earlier Sunday, and ESPN insiders reported that Florida asked McElwain to accept less than his $12.76 million buyout and step down as Florida's head coach.

The breaking news comes after Florida lost to Georgia 42-7 for the first time in three years on Saturday.

Twitter immediately erupted after the news broke on social media.

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