Tubby Smith has been fired as the University of Minnesota's men's basketball coach, CBSSports.com's Jeff Goodman reported Monday morning.

The report comes less than a day after the Gophers' season ended with a loss to Florida in the NCAA tournament's round of 32. Smith had won his first NCAA tournament game in six years with the Gophers on Friday, but he finished the 2012-13 season with four losses in the last five games.

Smith has never had a winning Big Ten record at Minnesota, and he finished this season 8-10 in the Big Ten after a 3-0 start.

The 61-year old coach was 46-62 in Big Ten play and 124-81 overall with the Gophers.

If Smith has been fired, the University will pay him a $2.5 million buyout. That number increased from $1.5 million after athletics director Norwood Teague extended his contract last summer.