Kennedy has amassed a 245-154 record in 399 games with the school.
"Chancellor Vitter, Coach Kennedy and I all have high expectations for our basketball program", Ross Bjork, Ole Miss' athletic director, said at the end of the 2017 season. With an 11-14 overall record so far, the Rebels presently sit near the bottom of the conference and have lost five straight games. Ole Miss has averaged 21 wins per season under Kennedy after the program posted only 21 or more wins three times in 96 years before his arrival.
Kennedy's best team and successes at Ole Miss came during the 2012-13 season led by Marshall Henderson where the Rebels won the 2013 SEC Men's Basketball Tournament and advanced to the round of 32 in the 2013 NCAA Men's Basketball Tournament.
Kennedy, 49, has been the program's head coach since 2006.
Ole Miss made eight trips to the postseason under Kennedy, earning 11 of the team's 20 postseason wins throughout history. The Rebels' memorable run as the 2013 SEC Tournament champions resulted in a trip to the NCAA Tournament, where the Rebels upset No. 18 Wisconsin in the opening round. "We will continue to support our student-athletes, Coach Kennedy and his staff, to build the program into a consistent NCAA tournament team". "He changed the culture of Ole Miss basketball".
Kennedy will remain on the sidelines through the remainder of the season.
Bjork noted the search for a new coach will begin immediately, He credited Kennedy for making the announcement now and giving the school plenty of time to find his successor.
The Rebels host Arkansas at 6 p.m. Tuesday.
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