Will Muschamp's time as the head football coach at the University of Florida (UF) will be up at season's end, the school has confirmed.

UF athletic director Jeremy Foley made the announcement on the Gators' official website on Sunday, a day after the team lost to South Carolina. The loss was the Gators' fourth this season and it effectively eliminated them from SEC East contention.

An unnamed told ESPN that UF will pay Muschamp about $6.3 million in a contract buyout, effective at the end of the season.

"I appreciate the opportunity that has been offered to me and my family by Dr. Machen, Jeremy Foley and the University of Florida," Muschamp said in the announcement. "I was given every opportunity to get it done here and I simply didn't win enough games - that is the bottom line. I'm disappointed that I didn't get it done and it is my responsibility to get it done.

"I have no bitter feelings, but this is a business and I wish we would have produced better results on the field. We have a great group of players and a staff that is committed to this University and this football program. They have handled themselves with class and I expect them to continue to do so. As I've said many times, life is 10 percent of what happens to you and 90 percent how you respond."

The coach is in his fourth season at UF and his best season was 2012 when the Gators went 11-1 and then lost in the Sugar Bowl. After starting out 4-1 in 2013, the Gators lost seven in a row and now seem on their way to another lackluster season.

This was Muschamp's first head coaching job, as he previously served as the defensive coordinator at Texas, Auburn, LSU and with the Miami Dolphins in the NFL when Nick Saban was the coach there.

"Upon evaluation of our football program, we are not where the program needs to be and should be. I've always said that our goal at the University of Florida is to compete for championships on a regular basis," Foley said in the announcement. "Coach Muschamp was dedicated to developing young men both on and off the field. Our student-athletes showed tremendous growth socially and academically under his leadership. His players were involved in campus activities, engaged with the local community and represented the University of Florida with pride."