Memphis President M. David Rudd, athletic director Tom Bowen and a committee to review the basketball program released the following statement this afternoon concerning the future of the Memphis basketball program and head coach Josh Pastner:

We have completed our comprehensive review of the men’s basketball program and have concluded that our program operates in a manner consistent with the core values of our University and community, but has fallen short in our on-court performance the last two years. The U of M will make the necessary investments and changes in order that our program may compete at the highest level with Josh Pastner as our coach.

In seven seasons as the head coach at Memphis, Pastner is 167-73, but just 37-29 over the past two campaigns.  The Tigers finished 19-15 this season, yet failed to make it into the post-season for the second straight season.