"He said it was about his health, and it was wearing on him physically and emotionally," junior guard Marcus Moody said of a meeting Sunday night.

But athletic director R.C. Johnson, who accepted the resignation, would not reveal the reasons Price gave him.

"All terms of his resignation are confidential," Johnson said. "It may come out eventually, but it won't come from me."

Johnson appointed associate head coach Johnny Jones interim coach for this season. A national search to fill the position on a permanent basis will begin immediately, according to a statement from the school.

Price, 43, won two Sun Belt Conference championships at New Orleans before taking over for Larry Finch at Memphis. The Tigers, now in Conference USA, were 17-12 in his first season, losing to Fresno State in the second round of the NIT.

They were 13-15 last season and one of the best players from that team, guard Jimmie Hunter, was declared ineligible after the season and left school.

The news about Price was a surprise to members of the team, who are scheduled to leave Friday for the Maui Invitational. The Tigers meet Georgetown in the opening round Nov. 22.

"This means we've got to get ready and start over. We've got to regroup," Moody said after the with Jones.

Price was introduced at Memphis on March 27, 1997, after Finch's contract was bought out following falling attendance and fan criticism over recruiting disappointments in Memphis area high schools.

Price had a 63-27 record at New Orleans.

Jones, 37, is in his third year at Memphis after serving as associate head coach at LSU from 1994-97.

Jones, known for his recruiting skills, played on the 1980-81 LSU team that won the Southeastern Conference championship and advanced to the Final Four.