ESPN.com reporting:

Miami didn't look far for a coach to rebuild its struggling football program. Randy Shannon, the Hurricanes' defensive coordinator the last six seasons, has agreed to a four-year contract to become the school's new head coach, a source close to Shannon said Thursday night.

The source said Shannon was offered the job on Thursday and accepted later in the day. Financial terms weren't immediately known, but Shannon's annual salary is believed to be more than $1 million per season.

A Miami official, who spoke on the condition of anonymity, also confirmed the hiring.
Shannon, a popular former player and longtime assistant, becomes only the sixth African-American coach in Division I-A football.

Shannon replaces Larry Coker, who was fired Nov. 24, the day after the Hurricanes upset Boston College 17-14 to salvage a 6-6 season.

Coker had a 59-15 in six seasons at Miami and won the national championship in his first season in 2001. Miami lost to Ohio State 31-24 in double overtime in the 2003 Fiesta Bowl, which cost the Hurricanes a second straight national championship.

Shannon, who has been Miami's defensive coordinator since 2001, is considered a safe hire for the financially strapped athletics department. A native of Miami, Shannon was a linebacker on the Hurricanes' 1987 national championship team and has been a longtime assistant at the school.

Shannon, 40, began working at Miami as a graduate assistant in 1991 and left to work for the Miami Dolphins from 1998 to 2000. He returned to his alma mater to join Coker's staff in 2001.
Shannon has long been regarded one of the country's top defensive coordinators and is well-liked by players. The Hurricanes ranked fifth in Division I-A in total defense this season, allowing 252.1 yards per game, and was third in rushing defense, surrendering only 66 yards per game.
Shannon was considered a viable candidate to replace his former boss from the beginning of the search. The Hurricanes targeted Rutgers coach Greg Schiano as their top choice, but the former Miami defensive coordinator told athletic director Paul Dee on Monday that he wasn't interested in the job.

It is believed the Hurricanes also talked with Texas Tech coach Mike Leach, who expressed interest in the job, and requested permission to interview West Virginia coach Rich Rodriguez, who is in contract negotiations to become Alabama's new coach.

Shannon had lenghty interviews with Miami president Donna Shalala throughout the day Thursday, and she and Miami board of trustee members agreed Shannon was their choice. Shannon met with Dee and Shalala in New York on Tuesday.

The school is expected to announce Shannon's hiring at a press conference Friday morning.