FWIW... I can tell you this based on what I've heard... Cohen is trying to give Freeze some time, he is hesitant to make a change, certainly doesn't "want" to make one. I think his background as a coach himself has a good bit to do with that. Rane and the boosters feel like a change is necessary and needs to happen sooner than later to keep auburn from falling further behind others. They've been working behind he scenes for a couple of weeks on getting the funds situated (which isn't too much other than the fact they've had to do it twice already in the last 5 years). Unlike Harsin though, Freeze is well liked by all involved, even if faith in him has evaporated. They are supposedly taking his health into consideration as well, as they believe that has impacted his performance to a degree. I think there are questions as to how Freeze will have Sexton handle it, he's a hard ball player, but I think they are aiming for a separation with a soft landing for Freeze where he can save some face.
As far as who they'd replace him with... supposedly there is early division among boosters. Rane will more than likely make the call... the last time the AD went rouge and made it, he ended up getting fired. But IMO, Sumrall, Lashlee, and Key would be in the mix.