Jeff Capel has officially been "released" from his contract with the Oklahoma Sooners, four days after a disappointing 2010-11 season came to an end in the Big 12 Tournament. The university made the official announcement Monday afternoon. Oklahoma Vice President and Athletics Director Joe Castiglione will hold a press conference at 5 p.m. EDT (live webcast will be available).
"After careful consideration, it has been determined that our men's basketball program would be best served by a change of direction," Castiglione said. "Therefore, we are making a change in the head coaching position. Jeff Capel has worked diligently on our behalf, and for that we are appreciative. He has many outstanding qualities and we wish him success as he moves forward."
The Oklahoman reports that the buyout will cost the school between $2 and $3 million.
In five seasons as OU's head coach, Capel ammassed a 96-69 (.582) overall record, including a 37-43 (.463) Big 12 mark, while leading the Sooners to NCAA Tournament appearances in 2008 and 2009. The past two years, however, resulted in the first consecutive losing seasons at Oklahoma since 1966-67 (a combined record of 27-36).
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