Colorado State's Larry Eustachy Steps Down After Being Put on Administrative Leave

Colorado State basketball coach Larry Eustachy has resigned and will formally step down at the end of his current contract year.

Colorado State basketball coach Larry Eustachy has resigned, the school announced Monday in a press release. 

He'll formally step down at the end of his current contract year and will remain on paid leave until June 30. He'll receive $750,000 divided into three payments over the next two years. 

"At the end of the day, it is time for me to step aside and allow Colorado State to open a new chapter of Rams basketball," Eustachy said in the release. "Likewise, this also gives me a chance to hit the reset button and then put all my energy into future opportunities." 

The coach was put on administrative leave in early February amid an investigation into the climate of the program. It's the second time Eustachy has been investigated. During the 2013-14 season, the school said he created an atmosphere of ''fear and intimidation'' among his players.