POSTED: Tuesday, December 10, 2013 - 2:48pm
UPDATED: Tuesday, December 10, 2013 - 3:31pm
AUSTIN, TX (NBC33) — According to Chip Brown of the University of Texas Rivals website, OrangeBloods.com , head football coach Mack Brown will be stepping down after 16 years.
An official decision is expected to be announced in the next 48 hours.
Brown says he expects the Alamo Bowl, December 30, in San Antonio, in which the Longhorns take on the PAC-12 powerhouse, Oregon Ducks, will be Brown's last.
Brown is under contract until 2020 and sources say he will receive a $2.75 million buyout among other incentives for his resignation.
Prior to Brown's lengthy tenure at Texas, he was head coach at Appalachian State, Tulane and North Carolina.
He won the following championships at the university's in which he coached:
BCS National Championship (2005)
Big 12 Championship (2005, 2009)
Big 12 South Division (1999, 2001, 2002, 2005, 2008, 2009)
Brown is currently the highest paid employee in the University of Texas system racking up over $5 million a year.