He's the winningest coach in Tulsa basketball history and now he's unemployed.

The University of Tulsa held a 4:00 p.m. news conference to announce that Doug Wojcik will not return for an eighth season.

Wojcik's team lost to Marshall in the quarterfinals of the C-USA tournament in Memphis last week ending a disappointing year with a 17-14 record despite what many believed to be the best overall talent of Wojcik's time on the bench.

In seven seasons Wojcik racked up a 140-92 record with two NIT trips and one CBI championship to his credit.

At the news conference Tulsa athletic director Ross Parmley said the decision was based on economics.

"Since 2005, we have seen a 35% decrease in season ticket sales, a 43% decline in revenue and growing apathy amoung our fan base," he began.

Parmley admitted it was a tough day for the players and the school and said he was "waiting for something good to happen" late in the year, but that something never came.

Click here to listen to Ross Parmley at the news conference.

Tulsa players Jordan Clarkson and Scottie Haralson also took questions, both said they were taken by surprise.

"Definitely tough, sad day, we just have to keep our heads up," Clarkson said. "Just try to keep the team together and stay strong" Haralson offered, when asked what team leaders needed to do now.

Click here to listen to Clarkson and Haralson.

Parmley says they will not discuss financial details of Wojcik's contract or speculate on any candidates for the job.