PISCATAWAY, N.J., March 1 (UPI) -- Gary Waters announced Wednesday he will resign at the end of the season after five years as Rutgers men's basketball coach.
There had been rampant speculation about his future at the Big East school.
The Scarlet Knights have had an overall record of 76-73 during his tenure -- with no NCAA Tournament appearances and two trips to the National Invitation Tournament. Rutgers went 20-13 in 2003 and reached the NIT championship game, losing to Michigan.
To date this season, Rutgers is 16-12 (6-9 Big East).
"At this time, I feel that this is the best course of action for me to take for the Rutgers basketball program and for my family," Waters said in a statement. "I feel we were able to accomplish a lot here, but it is time for me and my family to move forward. I have enjoyed coaching the Rutgers basketball team for the past five seasons, and have had the opportunity to work with some tremendous young men."
Under terms of his resignation agreement, Waters will receive $550,000 and additional compensation.
