Source: Cole Konrad to retire

Bellator heavyweight champion Cole Konrad informed promotion officials Wednesday that he will retire from mixed martial arts, a source close to the situation confirmed to ESPN.com.

The St. Paul Pioneer Press first reported the news on twincities.com.

Konrad, Bellator's first heavyweight titleholder, will become a financial trader specializing in milk products.

A former All-America wrestler at the University of Minnesota, the 28-year-old Konrad (9-0) made the first defense of his Bellator belt on May 25 when he submitted Eric Prindle one minute into the fight.

Konrad claimed the title Oct. 14, 2010, with a first-round submission of Neil Grove during the Bellator Season 3 heavyweight tournament final.