The team announced the move Sunday following its 37-27 loss to the Kansas City Chiefs, per Will Brinson of CBS Sports:
ESPN's Adam Schefter initially reported the news. Chargers general manager Tom Telesco had recommended keeping McCoy to ownership.
The 44-year-old McCoy went 27-37 in four seasons with the Chargers. After consecutive 9-7 campaigns to begin his tenure, he finished a combined 9-23 over the last two years. The Chargers were 5-10 heading into Sunday's game against Kansas City.
"I'm worried about the game," McCoy told reporters Friday. "It's about this team beating Kansas City. That's the only thing I'm worried about. Everything else will take care of itself. That's the honest truth."
Perhaps more concerning than the Chargers' record is the confounding ways they've found ways to lose. Nine of their 10 losses have come by one score, including a series of laughable gaffes early in the season. San Diego blew a 21-point lead to Kansas City in Week 1, allowed an Andrew Luck comeback in Week 3 and turned the ball over on its final three drives in a Week 4 loss to the New Orleans Saints.
"Discouraging probably isn't strong enough," quarterback Philip Rivers said at the time, per Ricky Henne of Chargers.com. "I don't know if there are many more ways left to find a way to lose. … I mean, you can't make this stuff up. You think, really, is there any other way we can find a way to do this?"
Team records in one-score games often regress to the mean from year to year, but that hasn't been the case with the Chargers under McCoy. Some pegged San Diego as a potential sleeper playoff team heading into the year because it lost nine games by one score last season.
Eighteen one-score losses in two seasons is hard to look past. The Chargers have offensive talent but haven't made progress on defense and have a habit of turning the ball over at the worst possible time.
The Chargers might want to bring in a starry name at head coach with a move to Los Angeles potentially on the horizon.
Follow Tyler Conway (@jtylerconway) on Twitter.