Boulder, Colo. ? Gary Barnett reluctantly stepped down as football coach of Colorado on Thursday, accepting a $3 million settlement and ending a tenure that was riddled by off-the-field problems but ultimately done in by recent bad results on the field.

Barnett said the decision was made by athletic director Mike Bohn.

“In the last 24 hours, Mike has made a decision to change the football coach at the University of Colorado,” he said. “I respect that decision, I didn’t like that decision – I didn’t resign my position – but I wholeheartedly accept … the decision.”

Barnett pointed to a resume that includes a Big 12 Conference championship, several Big 12 North titles and conference honors as coach of the year.

“I would deem that a success. Other people might not,” he said.

Choking up and pausing, Barnett thanked his players and fellow coaches. He conceded he was disappointed in the decision and that as little as three weeks ago he was looking forward to a contract extension. Colorado, however, lost three straight games by a combined score of 130-22.

“It’s pretty simple. We lost,” he said. “I think our team has been overly concerned about a contract extension … We ran out of juice, the well went dry.”

The Buffs (7-5) will face Clemson in the Champs Sports Bowl on Dec. 27. Barnett, 49-38 over seven seasons, will not coach the team in that game.

“I think we’re sad to leave the university but he is willing and is accepting the decision by the university, to the extent that he has a voice in that issue, and they were good enough to come to us and talk to us about it,” said Barnett’s attorney, John Rodman.

Cornerback Terrence Wheatley said he was disappointed and wanted Barnett to coach in the bowl game. Tight end Quinn Sypniewski called Barnett’s dismissal a “tragedy” and said the coach was upset when he told his team the news.

“He spoke with emotion and with passion,” Sypniewski said.