HONOLULU -- The University of Hawaii Athletics Department announced on Monday that Bob Nash is out as men's basketball coach.

The team went 10-20 overall and 3-13 in the Western Athletic Conference this season. Nash's record as head coach was 34-56, 15-33 in the WAC. The announcement was made at a news conference at UH Manoa.

UH Athletics Director Jim Donovan said it was the hardest thing he has had to do in his career. Donovan said, "it was a business decision."

Donovan said he and Nash had talked about the situation over the past nine days. He said he told Nash of his decision on Monday morning.

“No person has shown more dedication to University Hawaii basketball than Bob Nash. He has always been a class act and we are grateful for the way he has represented our school and for the example he has set for our student-athletes. He may no longer be our coach, but he will forever be a Rainbow Warrior," Donovan said.

Nash has one year remaining on his contract. The school will buy out his final year, Donovan said. Donovan said there have been offers from private parties of more than $100,000 to pay for part of the buyout.

The Rainbow Warriors had losing seasons in each of Nash's years as the head of the team since 2007. He took over from one of the team's longest-serving coaches, Riley Wallace.

Nash was an assistant coach to Nash for 20 years before assuming the helm of the program.

Nash played for UH in the 70s as part of the "Fabulous Five" team under coach Red Rocha. He still holds the season record for most rebounds. Nash was UH’s first-ever All-American and a 1972 NBA first-round draft pick.

Donovan said the department has begun the search for a replacement. He said he hopes to have a new coach named in a few weeks.

The range for a salary of a UH basketball coach can range from $200,000 to $400,000, Donovan told KITV4.

The national letter of intent day for college basketball is April 14. Nash was announced as head coach after the national signing day in his first season, putting him at a disadvantage when trying to recruit players. Most of the top players had already made commitments to schools.

Donovan said he offered Nash a job with the department involving fundraising, but he refused.