Mack Brown announced today that Muschamp will remain on staff as the defensive coordinator, and will eventually replace Brown as the head coach when he decides to retire. [LINK]
This is big news because Muschamp has been linked to a number of open jobs (Clemson and Tennessee to name two). He's such a hot commodity because he has consistently coordinated great defenses over the last several years, including the national championship defense at LSU in 2004.
I'm sure the rest of the Big XII wasn't as happy with this news as the people in Austin.
Mack Brown still has eight years left on his contract, and said he has no plans of retiring in the immediate future. That means there is still plenty of time for Muschamp to change his mind. Personally, I believe he'll stay in Austin because the Texas job is one of the top gems in the coaching world - 95% of all coaches would kill for it. Even if Muschamp has to wait eight years, he'll only be 46 years old when he gets the job. And taking over the Texas job when you're 46 is a pretty sweet gig.
Even if he does end up getting wooed to go somewhere else in a couple years, at least he drove up his price a little bit. And Texas will get at least a couple more years of great defenses out of him.