McNeely resigns

Michael McNeely's 16-month stint as IU athletic director is officially over.\nPresident Myles Brand accepted McNeely's resignation today ending his short tenure as athletic director. McNeely left Assembly Hall after a meeting with Brand Wednesday and was not at work Thursday (story).\nFriday, he resigned.\n"I wish Michael the very best in his future endeavors and thank him for his efforts while at IU," Brand said in a release. "He was committed to the success of IU's student-athletes and intercollegiate sports programs."\nBrand named IU Vice President for Administration and Chief Administrative Officer Terry Clapacs interim athletic director while a nationwide search is conducted for a full-time replacement.\nAccording to the release, Brand said matters within the athletics department have not worked out to the parties' mutual satisfaction.\nIU will pay McNeely the remainder of his five-year contract, which is around $800,000.