UPDATE: 3:05 p.m.
Ryan Day has received a five-year contract worth $4.5 million annually to become the 25th head coach of Ohio State football.
At a press conference Tuesday afternoon, he said had dreamed of being the Buckeyes head coach since he was a boy in New Hampshire.
Meyer said his decision was not final until this morning, though he had discussed the move with director of athletics Gene Smith over the last two days.
Meyer also revealed he had begun thinking about a succession plan as early as last spring after headaches from an arachnoid cyst on his brain began to recur last season.
While Day will take the lead on the team’s recruiting efforts immediately, Meyer plans to coach the team at the Rose Bowl on Jan. 1 against Washington.
UPDATE: 2:30 p.m.
Ohio State coach Urban Meyer, athletics director Gene Smith and Meyer’s successor Ryan Day addressed the media this afternoon at the Fawcett Center.
“It’s very difficult. This is all I know,” Meyer said.
Meyer has one game remaining with the Buckeyes in the Rose Bowl against Washington on Jan. 1, 2019.
Ohio State football announced early Tuesday morning Urban Meyer will only coach one more game for the Buckeyes.
Meyer is set to retire after coaching Ohio State against Washington in the Rose Bowl.
He will be replaced by offensive coordinator Ryan Day.
Director of athletics Gene Smith will formally name Day the next coach of the Buckeyes at a news conference later today.
Day served as interim coach during the preseason while Meyer’s handling of a domestic abuse allegations against Zach Smith were investigated.
Day also coached the first three games after an investigation found Meyer had not covered up the allegations but mismanaged the employment of Smith, who was fired in late July.
Ohio State went 3-0 under Day and won seven of eight games after Meyer returned.
A surprising blowout loss at Purdue in October ultimately kept the Buckeyes out of the College Football Playoff, but they finished the season by crushing Michigan 62-39 to earn a berth in the Big Ten championship game, where they beat Northwestern 45-24.
Meyer had surgery to reduce an arachnoid cyst on his brain in 2014 and went on to coach the Buckeyes to the national championship.
In October, he told reporters the cyst had enlarged again and was causing headaches at times of stress but said he was managing it.
When a report surfaced last week indicating Meyer was contemplating retirement after the 2019 season and Day would replace him, Meyer had no comment.
Meyer will retire as one of the most successful coaches in college football history.
He is 82-9 at Ohio State and 186-32 overall as a head coach with stops including Bowling Green, Utah and Florida (where he won two national championships).
His career winning percentage is third all-time behind only legendary Notre Dame mentors Knute Rocken and Frank Leahy.
His teams won three Big Ten championships and never lost to Michigan.
Meyer’s 7-0 record against the Wolverines is the best on either side of the rivalry. No one else coached The Game more than once without a loss.
He passed mentor Earle Bruce on the all-time coaching wins list at Ohio State on Saturday and trails only Woody Hayes, John Cooper and Jim Tressel.