Barry Alvarez Releases Statement on Tom Osborne's Retirement

Nebraska athletic director Tom Osborne announced his retirement earlier Wednesday morning, and Wisconsin AD Barry Alvarez has followed with a statement on Osborne this afternoon.

Osborne's retirement will be effective Jan. 1, 2013, and a search for his replacement is underway. After retiring, Osborne will stay on as "Athletic Director Emeritus" for a six-month period. Osborne, 75, was first named Nebraska's athletic director in October 2007.

Here is Alvarez' statement:

Tom Osborne has been a steady and stabilizing presence as athletic director at Nebraska since he moved into the position five years ago. Everyone knows about Tom's football coaching legacy, but he has really helped guide Nebraska through some significant challenges in recent years and he was, obviously, a key figure in the school's transition to the Big Ten. His departure is a loss for college athletics and the Big Ten, but I wish Tom well in his retirement. He's earned it.