We'd been hearing rumors - quick-developing ones at that - that said Rick Greenspan was resigning. They are rumors no more.

An IU Athletics press release just confirmed it.

Indiana University Director of Athletics Rick Greenspan today announced that he would step down from his position, effective the end of the calendar year.

"This has been a very difficult time and I am aware that I have become the focus of criticism which will continue to distract Indiana University from its core educational mission. Consequently, I believe a new person will be in a stronger position to lead IU Athletics moving forward and it is in IU's best interests for me to stand down. You can rest assured that I will work with great diligence and effort on behalf of our student athletes and coaches over the next six months. They deserve nothing less," said Greenspan. "Without question, I am extremely disappointed in the new charges brought by the NCAA Committee on Infractions against Indiana University that were released today. I disagree with these charges, particularly since the NCAA Enforcement staff did not reach this same conclusion after their original, in-depth investigation. Nevertheless, the new charges must and will be answered," said Greenspan.

Obviously, this is rather out of left field, and it bears mentioning that this announcement comes on the heels of a sixth NCAA allegation of "failure to monitor" leveled against the department.

We'll have more on this as it unfolds, including complete coverage of the presser, which is scheduled for 4:30 p.m. in the Hoosier Room and will include Michael McRobbie and Greenspan.

Stay with the Basketblog, and we'll keep you apprised as things develop.

Click below to read the full release from IU Media Relations. RICK GREENSPAN TO STEP DOWN AT CONCLUSION OF CALENDAR YEAR

BLOOMINGTON, Ind. - Indiana University Director of Athletics Rick Greenspan today announced that he would step down from his position, effective the end of the calendar year.

"This has been a very difficult time and I am aware that I have become the focus of criticism which will continue to distract Indiana University from its core educational mission. Consequently, I believe a new person will be in a stronger position to lead IU Athletics moving forward and it is in IU's best interests for me to stand down. You can rest assured that I will work with great diligence and effort on behalf of our student athletes and coaches over the next six months. They deserve nothing less," said Greenspan. "Without question, I am extremely disappointed in the new charges brought by the NCAA Committee on Infractions against Indiana University that were released today. I disagree with these charges, particularly since the NCAA Enforcement staff did not reach this same conclusion after their original, in-depth investigation. Nevertheless, the new charges must and will be answered," said Greenspan.

Greenspan said that his decision will enable the university to complete a search for his successor and enable a number of matters to be brought closer to completion.

Indiana University President Michael McRobbie in accepting his decision praised Greenspan for his accomplishments as Director of Athletics.

"It is common knowledge that IU athletics had significant financial difficulties before Rick took over," McRobbie commented. "He has focused attention in the department to correcting that situation and today our athletics finances are substantially improved and IU's athletic department is now on stable ground financially.

McRobbie also praised the expansion of athletics facilities currently underway, including enclosure of the north end zone at Memorial Stadium, construction of a basketball development center for use by IU's men's and women's teams, as well as improved training and academic facilities for IU athletes.

"These are important accomplishments that were led by Rick and will benefit IU athletes and fans for years to come," McRobbie said. "I am also grateful for the leadership role Rick played in dealing with the tremendous loss of Terry Hoeppner and the hiring of Coach Bill Lynch. The recruitment of Felisha Legette-Jack and Tom Crean were both handled with great skill and professionalism as well. I am also appreciative that Rick has agreed to continue to guide the athletic department through the end of the year, as there are many key initiatives and projects that will require his strong administrative oversight. Our university owes Rick a great debt of gratitude for his selfless service."

"I am extremely disappointed with this additional allegation by the Committee on Infractions. I believe our compliance program worked, and have remained steadfast since I first learned of this situation in my belief that Rick Greenspan and the compliance staff did their job. We uncovered the violations, perhaps not immediately, but the appropriate behavior was uncovered, reported promptly and investigated thoroughly," remarked McRobbie.

McRobbie said, "Although I respect and accept Rick's decision to step down, this entire matter saddens me deeply. I know that a lot of thought and consideration went into Rick's decision. On behalf of Indiana University I thank him most sincerely for his accomplishments as Director of Athletics at Indiana University.

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