Texas Tech University announced today that head basketball coach Billy Gillispie has resigned.

Gillispie, who was named head coach on March 20, 2011, will be paid for the remainder of this contract year that runs until April 30, 2013.

Gillispie coached UTEP from 2002-2004 before accepting a job at Texas A&M.

Tech A.D. Kirby Hocutt released this statement:

"Billy has decided to focus on his health and we wish him a full recovery," Hocutt said. "We are proud of the young men that he has brought to this campus. Billy's decision allows him to concentrate on his well-being and allows us to turn our attention to preparations for the upcoming season."