Joe Moglia is stepping down as Coastal Carolina's head coach, sources told FootballScoop on Friday.
Additionally, sources indicated Coastal will promote Jamey Chadwell to replace Moglia. Moglia will remain with the program in an administrative capacity, sources said.
Chadwell is currently the associate head coach, offensive coordinator and quarterbacks coach at Coastal. Formerly the head coach at North Greenville University, Delta State and Charleston Southern, Chadwell joined Moglia's staff in 2017 and was quickly promoted to interim head coach as Moglia spent the entire season on medical leave.
Moglia, 69, shepherded Coastal Carolina from FCS to the Sun Belt and racked up a 56-22 record in six seasons as the Chanticleers' head coach. He led Coastal to the FCS quarterfinals in the 2013 and '14 seasons.
Moglia, of course, is independently wealthy after taking a 26-year hiatus from coaching to enter the business world. He stepped down from his position as CEO of TD Ameritrade to serve as a volunteer assistant for Bo Pelini's Nebraska staff in 2009.
Coastal Carolina went 5-7 in 2018.
As always, stay tuned to The Scoop for the latest.
Update:The school has now announced the move. Moglia will remain with the school as chairman of athletics through the 2020-21 academic year, a position that includes "executive authority over football." Chadwell will report to him. Here's the full statement from Moglia:
To my players and staff, family and friends, and all of you who have been part of Coastal Carolina football, I can't thank you enough for all the love, support and dedication that you have given to me, my family and the Coastal Carolina football family over the last seven years.
I wish I had the opportunity to speak with so many of you before this announcement, but it just wasn't possible.
The 2018 season was my 25th as a football coach and I am proud and grateful for the career I've had, especially the last six and seven years as part of Coastal.
I have decided to step down as the head coach of the football program and, as part of the succession plan that I, President David A. DeCenzo and Director of Athletics Matt Hogue believe is best for the program, to turn that responsibility over to Jamey Chadwell.
Let me explain why. While we were all disappointed in the latter part of last season, we still exceeded the expectations of what anyone predicted in the preseason.
Our 2018 team was one of the youngest in the nation, we had a significant scholarship deficit to our competition, and we had six new coaches working together for the first time.
In the 2019 season, we'll still be young, but far more experienced. We will be much closer to 80 scholarships, and our staff has experience working together as a whole.
We all believe that the future is bright for Coastal Carolina football. We also have tremendous confidence in Coach Chadwell as well as the rest of the staff.
By the time the 2021 season rolls around, we will have recruited five years of FBS talent and we will and should be expected to be very competitive week in and week out.
While my contract continues through the next two seasons, I believe that it is truly in the best interest of our program for Coach Chadwell to have the responsibility now so that he and the staff can focus on the next two seasons and be ready to go in the future.
Our succession plan has been well thought out. I will stay on for the duration of my contract (June 2021) as Chairman of Athletics and will still have executive authority for football. Coach Chadwell will report to me and I will report to Dr. DeCenzo. I will do all I can to provide support to the program.
Matt [Hogue] will continue as the Director of Athletics and has responsibility for everything else within the athletics department and administrative responsibilities for football.
I am so proud of what we have done at Coastal and will always be grateful to Dr. DeCenzo, Wyatt Henderson and Gene Spivey for believing in me enough to give me the opportunity here at Coastal Carolina.
I am also so appreciative of the support I have received from all of you, fully recognizing there was some controversy about my arrival in 2012 and that there were those who weren't comfortable with me. I hope most of you feel differently today, and I thank you for being open-minded enough to give me a chance. I hope you would extend the same courtesy to Coach Chadwell and give him the opportunity he needs to coach the Chanticleers.
And of course, we never would have accomplished what we have without the hard work and commitment of our student-athletes and staff, both past and present. From the bottom of my heart, I thank you.
I love and will always be a part of this great University.
And here's a quote from Chadwell on becoming Coastal's head coach.
"I was saddened when Coach Moglia informed me that he was going to step down as our head coach. He is an incredible mentor to not only me but also for all of the young men in our football program, past and present, and has helped develop countless student-athletes that have gone on to great success in life after football. I want to thank Coach Moglia, Dr. DeCenzo and Matt [Hogue] for this great opportunity and their support in me as the next head coach of the Coastal Carolina football program. I am excited to build on the great foundation that Coach Moglia has put in place here as we continue to move forward in becoming one of the best programs in the Sun Belt."