Greenberg was fired Monday afternoon during an impromptu press conference called by Virginia Tech athletic director Jim Weaver.
Greenberg helped lead Virginia Tech back to basketball relevance during the mid-2000s, as the Hokies won at least 19 games and made a postseason appearance in five straight seasons from 2006 to 2011. After a 22-12 finish in 2011, Greenberg watched his Hokies get snubbed from a tournament berth yet again as they were relegated to the NIT.
"I was completely shocked and blindsided by the decision of Jim Weaver and the administration. These past nine years have been some of the most rewarding for me both personally and professionally," Greenberg said in an interview with ESPN.
During the press conference, Weaver noted that he and assistant athletic director Tom Gabbard had concluded they wouldn't be extending Greenberg's contract past the 2013 season and decided that with the current vacancies on the coaching staff, it was best to part ways.
"[Gabbard and I] decided last week that we needed to go in another direction in our men's basketball program, and we have terminated coach Seth Greenberg's tenure as our basketball coach," Weaver said during Monday's press conference.
The buyout of Greenberg's contract cost the Hokies just $1.2 million.
Greenberg went a combined 167-117 during his nine seasons in Blacksburg, making six postseason appearances and finishing in the top four of the ACC five times.