UPDATE: Muschamp's exit is officially being called a resignation. Original story below.
The decision comes a day after the Gators gave away a winnable game against South Carolina that was perhaps a perfect microcosm of Muschamp's tenure. The defense did a good job at stuffing the Gamecocks' attack after some early troubles, but the offense couldn't generate enough points to seal the win. Despite facing a terrible passing defense, Muschamp leaned on the running game and almost seemed afraid to use the pass game much at all.
Through Saturday, Muschamp is 25-19 overall and just 15-14 in SEC play. Absent the 2012 season, which is now undoubtedly the fluke of his tenure, his record is 14-17 overall and 8-13 in SEC play. He delivered the great defenses that you would expect, but a rotating cast of characters on the offensive staff combined with some questionable recruiting strategy on that side of the ball prevented the offense from ever being better than mediocre.
Florida had never finished below .500 in SEC play since the divisions came around in 1992; the team did it twice in Muschamp's tenure (2011, 2013). The school's long sellout streak also came to an end under his watch, and scores of empty seats in the North end zone have become the rule rather than an exception. It was evident early that this year wasn't going to save his job, and it is time for a change.
We'll get to potential replacements later, but for now, read an excellent autopsy of Muschamp's tenure by Thomas Goldkamp of 247sports. A series of adverse circumstances, bad luck, and rookie mistakes doomed his time in Gainesville, and how much he has learned from those will determine how the rest of his career as a coach will go.