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Report: Texas AD Dodds to announce retirement

Austin, TX (SportsNetwork.com) - University of Texas athletic director DeLoss Dodds is expected to announce on Tuesday that he will step down, effective next August.

The Austin American-Statesman, citing three well-connected sources, first reported the retirement announcement.

According to the report, the 76-year-old Dodds will stay on through Aug. 31, 2014, will remain as a paid consultant through 2015 and will receive a $1 million annuity in August.

Dodds has been AD at Texas for the past 32 years.

10/01 12:58:39 ET