Legendary coach Bob Stoops, 56, will retire after 18 seasons leading the Oklahoma Sooners and is prepared to inform his team on Wednesday, according to The Oklahoman and the coach himself.

Stoops leaves Oklahoma with a 190-48 record, 10 conference titles in the Big 12 and the 2001 BCS National Championship.

The paper reports that, while Stoops plans to remain with the university, 33-year-old offensive coordinator Lincoln Riley will take over and lead the team this season.

"Bob got to do it in his way," a source told The Oklahoman. "Doesn't get any better than that."