Known as much for his fiery temper as his basketball brilliance, Knight gave no hint a change was coming. He will be replaced by his son, Pat, a Red Raiders assistant.
The 67-year-old Knight informed Texas Tech athletic director Gerald Myers of his decision in a meeting around noon, Hance said. Knight then called Hance and told him.
"He thought about it Sunday all day and talked to his wife and decided 'This is something I want to do,'" Hance said.
The Red Raiders beat Oklahoma State 67-60 on Saturday, giving Knight his 902nd victory. He won national titles at Indiana in 1976, '81 and '87.
Knight was not available for comment Monday, said Randy Farley, a spokesman for the Texas Tech basketball program.
The Lubbock Avalanche-Journal first reported the resignation.
In September, Knight signed a three-year contract extension that runs through the 2011-12 season. In 2005, Pat Knight was appointed his father's successor.
Knight arrived at Texas Tech in March 2001, six months after being fired by Indiana for what school officials there called a "pattern of unacceptable behavior."
In his first six years at Tech, he led the Red Raiders to five 20-win seasons, a first at the school. They are 12-8 this season, including Knight's 900th victory last month against Texas A&M.
Texas Tech's next game is Wednesday night at Baylor.
Knight passed former North Carolina coach Dean Smith as the winningest Division I coach Jan. 1, 2007, getting career win No. 880. To celebrate the milestone Knight chose "My Way" by Frank Sinatra, a mantra for how he navigated his personal and professional worlds.
"Bob is kind of a funny guy. He always loved that song `My Way,' and this is another example," Hance said.
Back then, Knight explained why "My Way" was so fitting.
"I've simply tried to do what I think is best," Knight said. "Regrets? Sure. Just like the song. I have regrets. I wish I could done things better at times. I wish I would have had a better answer, a better way, at times. But just like he said, I did it my way and when I look back on it, I don't think my way was all that bad."
Knight has been a college coach for 42 years. He broke in at Army in 1965, but made his mark in 29 years at Indiana.
He's a complex package, someone who can hit a policeman, throw a chair across the court or be accused of wrapping his hands around a player's neck, yet never gets in trouble for breaking NCAA rules, always has high a graduation rate and gave his salary back a few years ago because he didn't think he'd earned it.
"Maybe he thought it was the right time for Pat and give him a shot," former Temple coach John Chaney said.
Knight got his 100th victory at Army, then moved to Indiana, where his Hoosiers went 662-239 from 1971-2000.
His first NCAA title came in 1976 when Indiana went undefeated, a feat no team has accomplished since. In 1984, he coached the U.S. Olympic team to a gold medal in Los Angeles.
When he began his coaching career at Army, he was 24, the youngest-ever Division I coach. Knight won 20 or more games in 29 seasons.

Bobby Knight / photo: Associated Press
http://accesswdun.com/article/2008/2/206548