Mike Munchak lasted three seasons as head coach of the Titans. (USATSI)

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On Saturday, a day after Titans CEO Tommy Smith said that no decision had been made on Mike Munchak, the team fired the third-year head coach.

"First I want to thank Mike Munchak for his professionalism through this process and thank him for his years of dedication to the Titans/Oilers organization," general manager Ruston Webster said in a statement. "He is first-class and I wish him and his family nothing but the best. I also want to praise Tommy Smith for his involvement during the weeklong process. He was thorough and thoughtful.

"The last week has been a difficult time trying to navigate through many issues to find the best resolution for this franchise moving forward. Tough choices were presented to all sides and the end result was to part ways and move forward without Mike.

"We will immediately begin a search for a new head coach. I am confident that we will find a coach that can continue our growth as a team and lead us to sustained success."

Munchak was elevated to head coach before the 2011 season, replacing Jeff Fisher. A Hall of Fame offensive lineman with the Houston Oilers, Munchak joined Fisher's staff in 1994.

Munchak's first season was his best; the Titans went 9-7 in 2011 but missed the playoffs. They were 6-10 and 7-9 in subsequent seasons.

According to Jim Wyatt of the Tennessean, during Friday's meeting, Munchak was offered a chance to return to the Titans, with conditions. It appears those conditions were not agreed upon.

Meanwhile, the Titans now are in the market for a new coach and probably a new franchise quarterback.