Mar 12, 2014 10:13 AM EDT By Staff Reporter, UniversityHerald Reporter

Jimmy Bass, athletic director at the University of North Carolina Wilmington, has fired men's basketball coach Buzz Peterson and named assistant Eddie Biedenbach as the interim head coach.

Peterson posted 42-82 in four seasons with the Seahawks, never finished above .500 and went 30-53 in the Colonial Athletic Association. The team were 9-23 this season and won just three of 16 league games. They suffered a 78-70 loss to Hofstra in the first round of the CAA tournament, Fox Sports reports.

Bass thanked Peterson for his service and commitment and wished him well for future endeavours.

"We needed a new direction for the program," Bass said. "We needed to breathe some new life into it, and every phase that we looked at - recruiting, player development, everything that we do - we just felt like we had to have new leadership," Star News Online reports.

Peterson's career record of 267-229 in 16 seasons includes stints at Tulsa, Tennessee, Coastal Carolina and Applachian State.

He was named the ninth head men's basketball coach in UNCW history April 16, 2010. Peterson was offered a five-year contract with a salary of more than $2.1 million. The contract was extended for another year October 2012, meaning he has $880,000 left on the deal. The University will use a low-interest loan to buy out the contract.

Bass said that letting go Peterson was the right decision as the team hasn't made an appearance at the NCAA tournament since 2006. It's time for the players to get on the right track.

"It's the sport we want to be successful in, both on the basketball court and in the classroom," UNCW chief of staff Max Allen said. "It's something we watch all the time. We hope to have a coach that can turn this around."

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