I care how it's handled/released.
First, if there's something there that can get him fired for cause, great, do it. If not, then they shouldn't try to weasel their way to finding some justification to fire him for cause. I'd respect the administration a lot more (and I think it would send a much better message for the future of the program) if they just came out and said: "Your results on the field are poor, and this program strives for better." (This approach would also save us a potential legal battle if he contests a "for cause firing").
Second, if they're going to do it, get it done before signing day. Be fair to the recruits. Some of them may be committed to the school regardless, others may just be committed to him (for reasons beyond my comprehension). But, don't entice them to sign then pull the rug out from under their feet right after the ink dries. Do it the right way.