Oklahoma State and coach Travis Ford mutually agreed Friday to part ways, ending Ford's eight-year run at the school that ended with a 12-20 season.

"I like Travis Ford and his family," athletic director Mike Holder said in a statement Friday. "He worked very hard at his job. Unfortunately, we have to move on."

Ford had three years and a guaranteed $7.2 million remaining on his contract.

Travis Ford won less than half of his games in Big 12 play during his eight seasons in Stillwater. Erich Schlegel/USA TODAY Sports

Ford was 155-111 in Stillwater, but was only 55-65 in Big 12 play, including only one upper-division finish in the conference standings. Ford had five 20-win seasons and five NCAA tournament berths, but had a 1-5 record in the NCAAs. OSU also had an NIT appearance in 2011 under Ford.

This season the Cowboys lost several key players to injuries and finished 12-20, only the fourth 20-loss season in school history and first since 1987.

They played in front of sparse crowds as well -- Oklahoma State averaged 5,857 fans for home games at Gallagher-Iba Arena, its lowest since 1997 when the arena's capacity was 6,381. Gallagher-Ina Arena's capacity was expanded to 13,611 in 2000.

Before coming to Oklahoma State, Ford was coach at UMass, Eastern Kentucky and Campbellsville.