The Bulls’ 27-3 loss to Pittsburgh was the nail in the coffin for Holtz.

Woolard and company will begin to look for the programs third coach in its short 16 year history.

“We will immediately begin a search for a new head coach,” Woolard said.  “We will move as quickly as possible, but will be as thorough as necessary to find the best fit for our football program here at USF.  We will enlist the expertise of university officials, community leaders, and leaders in the world of intercollegiate athletics.”

The news of Holtz’s firing comes less than six months after he got a contract extension.

The university will now be required to pay Holtz $2.5 million over the remaining five years on his contract.

Many wonder why Holtz got the extension anyway. He had a 5-7 season last year with the Bulls. What part of that season deserved recognition? The team did start the 2011 season 4-0 but the wheels came off from there. USF missed a bowl game for the first time since 2004.

Worthy of an extension or not, he got one and Woolard gave it to him.

USF was chosen to finish second in the Big East conference in preseason voting, but missed that mark entirely.

This season saw nothing but disappointment for the Bulls. USF lost decisively to Miami (40-9) and in its home finale against Pittsburgh (27-3). The loss against Pittsburgh was the worst offense showing the program has seen. The offense mustered 117 total yards, an all-time low in 16 seasons.

“While our program remains young, having just completed our 16th season of competition, our history is rich, and the expectations of coaches, players, students, administrators and fans are high,” Woolard said.  “That is why the past few months have been hard for all of us.”