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(AP) -- Jim Calhoun is officially retiring as men's basketball coach at Connecticut after a 40-year college career and three national championships.

The 70-year-old Hall of Famer and the school released a statement shortly before a news conference at center court in Storrs, where Calhoun led the Huskies for the past 26 seasons, racking up 625 of his 873 wins.

Calhoun will take a transition appointment through next spring as a special assistant to athletic director Warde Manuel.

When he is fully retired, Calhoun will become head coach emeritus.

Calhoun has been slowed by health problems in recent years including a fractured hip last month.

Assistant coach Kevin Ollie, who played point guard for Calhoun from 1991-95, will be the Huskies' new coach.

His contract runs through next April 4 and he will be paid $625,000.

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