The Siena men's basketball team will have a new coach. 

The school announced its decision today to part ways with coach Mitch Buonaguro, who still had one season remaining in his four-year contract. 

Athletic Director John D'Argenio will meet with the media at 3:30 this afternoon, to discuss the decision. You can watch the press conference here.

Buonaguro was an assistant under coach Fran McCaffery for five years, before taking over the head coaching spot before the 2010-11 season, when McCaffery left for Iowa. 

"I'm very grateful for the opportunity Siena gave me," Buonaguro said, in the school's release. "It's a very special place, and I've thorughly enjoyed my eight years here. The student athletes we have brought through the program are people the Siena community can be very proud of. We had some great success here, and although the last three years did not produce the results any of us hoped for on the court, I leave knowing I gave my all every day. This is a program I care deeply about, and I wish Siena nothing but the best in the future."