As had been speculated over the weekend, Tom Coughlin has resigned as head coach of the New York Giants, several media outlets are reporting.

After his meeting with team officials Monday, Coughlin, 69, issued an official statement:

"I met with John Mara and Steve Tisch this afternoon, and I informed them that it is in the best interest of the organization that I step down as head coach. It has been an honor and a privilege to serve as head coach of the New York Football Giants. This is a not a sad occasion for me. I have spent 15 years with this organization as an assistant and head coach and was fortunate to be part of three Super Bowl winning teams. A Lombardi Trophy every five years is an achievement in which we all take great pride."

On Sunday the Giants wrapped up their third consecutive losing season with a 35-30 loss to the Philadelphia Eagles. Coughlin's Giants won two Super Bowls during his 12-year run as head coach but the team failed to make the playoffs in each of the last four years. In New York, he compiled an regular season record of 102-90, but the team was a combined 19-29 over the past three campaigns.