Bobby Petrino abruptly resigned his position as coach of the Atlanta Falcons on Tuesday and is negotiating an agreement to become the new coach at the University of Arkansas, multiple sources told ESPN.
Bobby Petrino's first foray into the NFL coaching ranks lasted 13 games. Ten were losses.
Petrino and his agent had been talking with the Falcons about his preference to return to the college ranks. The former Louisville coach was looking for an opportunity to break into the Southeastern Conference ranks, and Arkansas was a natural fit.
Citing the team as its source, the Atlanta Journal-Constitution reported on its Web site that Petrino phoned the Falcons about 5:45 p.m. Tuesday and resigned. Petrino and the team agreed he would not coach the Falcons' remaining three games, a source told ESPN.com's John Clayton.
Negotiations between Petrino and Arkansas are ongoing, the sources told ESPN. Once a deal is in place, Petrino is expected to be paid around $3 million a year, the sources said.
Petrino signed a five-year, $24 million contract to be the Falcons head coach, so he will be taking a pay cut to re-enter the college ranks. The Falcons are 3-10 and have had their season torn apart by Michael Vick's involvement in a dogfighting ring and subsequent 23-month jail sentence, which was levied Monday.
NFL sources said there was no buyout in Petrino's contract with the Falcons.
Petrino will succeed Houston Nutt, who was hired by Mississippi immediately after resigning at Arkansas. Tommy Tuberville and Tommy Bowden were both linked to the Arkansas opening, but they remained as coaches at Auburn and Clemson, respectively.
Arkansas flirted with hiring Jim Grobe -- a private fundraising arm for the Razorbacks approved a salary supplement for the Wake Forest coach -- but Grobe stayed with the Demon Deacons.
http://sports.espn.go.com/ncf/news/story?id=3150783 
Bobby Petrino Resigns 
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