A source close to the situation said Golden informed his players of his decision last night. He couldn't be reached for comment.
Shannon, a former UM linebacker, went 28-22 in four seasons. The Hurricanes (7-5) will play Notre Dame (7-5) in the Dec. 31 Sun Bowl in El Paso, Texas. Interim coach Jeff Stoutland is expected to coach that game.
"Al Golden did not just win games at Temple University, but he built a football program and he did it the right way," Bradshaw said in a statement. "He engineered one of the most remarkable turnarounds in Division I history, and not only did he turn Temple football around, he did it in such a way that it will last long after his departure.
"He hands off a program that is built for success, and for that Temple University is grateful. We wish him, his wife Kelly, and his entire family all the best."
The other finalists for the position were Connecticut coach Randy Edsall and former UM assistant Marc Trestman, coach of the two-time defending CFL champion Montreal Alouettes.
Texas Tech's Tommy Tuberville and Houston's Kevin Sumlin were also strongly considered.
If you can get it done at Temple, maybe you can succeed anywhere. We'll find out.
Sources confirmed the 41-year-old Golden, who was the defensive coordinator at Virginia from 2001 to '05, had also been high on the list of candidates for the vacancy at Pittsburgh, where Dave Wannstedt was just forced to resign after six seasons. A Pitt spokesman denied to the Pittsburgh Tribune-Review that the school had offered the position to anyone.
Golden met twice with UM's athletic director, Kirby Hocutt, during the process, once in New York early last week and again in Philadelphia, most likely on Saturday.