EAST RUTHERFORD, N.J. -- Bill Parcells, saying 'It's time,' Wednesday resigned as coach of the New York Giants four months after winning his second Super Bowl.

He will be replaced as head coach by Ray Handley, a Giants assistant since 1984 who previously worked with Parcells at Air Force and Army. Handley had been running backs coach until he was promoted to offensive coordinator in February.


Parcells, who turns 50 Aug. 22, had one year remaining on his contract at a reported $800,000 salary. He denied media reports that he is quitting to become a television broadcaster at NBC, although the network's executive producer Wednesday said he hopes to hire Parcells.

'I'm going to resign my position and move on,' Parcells said at a Giants Stadium news conference. 'I'm looking toward the future, although I'm not sure what it holds.'

Parcells quit with a 85-52-1 record over eight seasons, which leaves him second on the Giants' career list to Steve Owen, who was 151-100-17 from 1931-53.

Under Parcells, the Giants won the Super Bowls after the 1986 and 1990 seasons, won the NFC East division three times and made five playoff appearances. His postseason record was 8-3. Their 1986 championship was the Giants' first NFL title in 28 years.

'It's a letdown,' co-owner Wellington Mara said. 'I felt the same when when (Vince) Lombardi and (Tom) Landry left (as assistants in the 1960s). But it's part of the game.'


Parcells said his decision had nothing to do with any front office skirmishes, contract negotiations or bad health. He has publicly questioned whether he would be back since the Super Bowl and said he finally reached a decision last week. He told Mara and general manager George Young of his decision Tuesday.

Mara and Young offered the job to Handley the same day.

'It's been a great 10 years,' Parcells said. 'Who's been luckier than I have? This is my hometown team.

'But I feel like it's time. Players come and go, coaches come and go and owners come and go and I just think it's time. I have a feeling. My instincts are usually good and I feel it's time.

'I've given what I've had for 10 years here. It's a new era. I was in the '80s. You get that feeling it's going away from you.'

Handley said there will be few changes from the team Parcells guided to the Super Bowl.

'Bill Parcells has been a great mentor to me,' Handley said. 'Bill has left the ship in good shape. Everything is well-prepared and we'll stay the course. It's a course we've followed before.'

Parcells was promoted from defensive coordinator to head coach when Ray Perkins left for the University of Alabama after the 1982 season. After a 3-12-1 1983 season, Parcells built the Giants into a power and they crushed Denver 39-20 in Super Bowl XXI. They returned to the Super Bowl last season, edging Buffalo 20-19 for another title.


Parcells' only losing seasons came in 1983 and in 1987, when the Giants finished 6-9 as defending Super Bowl champions.

Parcells is the second coach in three years to step down after winning a Super Bowl. The other, former San Francisco Coach Bill Walsh, left to become an NBC broadcaster.

Parcells has dropped hints in recent years about his desire to step down, and was hospitalized with kidney stones last December.

But Parcells said Wednesday said he has never felt better.

'I've lost 20 pounds since the season ended,' he said. 'I've been working out harder than ever, I haven't smoked in two weeks. I'm doing great.'

Parcells also said he has not spoken to anybody at NBC since he auditioned for a job three months ago. He emphasized 'I have no plans' but admitted he would not rule out becoming a broadcaster or returning to coaching in the future.

And NBC executive producer Terry O'Neill in a statement Wednesday said, 'We'd love to have him (Parcells as an analyst). We think he could fit in as part of what we consider the deepest lineup of football analysts in TV history. We anticipate speaking with Bill over the next couple of weeks to gauge his interest, but we will try to woo him and bring him to NBC. Bill is a bright, diverse individual with many options open to him and we hope to be considered among his options.'

Handley, 46, has never been a head coach but has been coaching since 1967. A former Stanford running back, Handley had three stints as an assistant at his alma mater in addition to his time at Army and Air Force. He was associate head coach at Stanford before taking his first NFL job with the Giants.


The changes are the latest in an offseason of change for the Giants. In late February, Robert Tisch purchased Tim Mara's half of the club. Tisch is the first owner outside of the Mara family in the club's 67- year history. Wellington Mara, son of original owner Tim Mara, still owns half the team.

The Giants also overhauled their coaching staff after former defensive coordinator Bill Belichick left in February to become head coach of the Cleveland Browns. Ron Erhardt was promoted from offensive coordinator to assistant head coach, Al Groh was promoted from linebacker coach to defensive coordinator and Jim Fassel and Fred Bruney were added to the staff.