Larry Brown, SMU Part Ways: Latest Details, Comments and Reaction

Larry Brown stepped down as head basketball coach at SMU on Friday morning. Associate head coach Tim Jankovich will take over the program.

Jon Rothstein of CBS Sports first reported the news. Rothstein noted Brown's decision came after the school wouldn't offer him a long-term contract extension. Jeff Goodman of ESPN.com confirmed the report of the legendary coach's sudden departure.

Brown acknowledged to ESPN's Andy Katz on Friday he was indeed stepping down. He wouldn't get into further details, however, stating: "I've got nothing else to say right now. I have to text the parents of my players."

The 75-year-old sideline stalwart is the only coach in history to win both an NCAA championship and an NBA title. He accomplished the feat by cutting down the nets with Kansas in 1988 and leading the Detroit Pistons to an NBA Finals triumph in 2004.

Brown was set to enter the final season of his contract this fall. In March, he told Bill Nichols of the Dallas Morning News he was planning to stay with the program for the foreseeable future: "I love what I do and I love where I'm at and I want to see it continue to get better. I didn't think about any other alternative but to continue to be a part of the program and build on everything that's been accomplished and try to accomplish more."

The Mustangs are coming off a terrific 25-5 campaign that saw them rise into the Top 10 of the Associated Press rankings. Rather than competing for a championship during March Madness, though, the team was banned from the NCAA tournament.

SMU was penalized by the Division I Committee on Infractions last September for multiple NCAA violations, including academic fraud and unethical conduct, according to ESPN.com. The sanctions included being held out of postseason play and a nine-game suspension for Brown.

In all, the longtime coach compiled a 94-39 record across four seasons with the program, highlighted by an appearance in the 2014 NIT title game. His overall record at the collegiate level with SMU, Kansas and UCLA now stands at 271-100, good for a .730 winning percentage.

The transition should be smooth despite his rapid offseason exit. Jankovich has been with SMU since 2012 and previously served as head coach while Brown was suspended. His ascension to the top coaching role on a full-time basis merely comes sooner than expected.

Meanwhile, it's unclear what comes next for Brown. He told ESPN's Hannah Storm in April he couldn't see stepping away from coaching as long as he's making a difference, per Adam Zagoria of SNY. But he's clearly looking for some long-term security in whatever job he holds.