Ohio State President E. Gordon Gee confirmed to The Lantern Monday afternoon that Urban Meyer has accepted the university’s offer to become the 24th coach in the history of the OSU football team. 

Gee would not discuss the terms of Meyer’s contract, but said he had met with Meyer and will be present to announce the hire at a 5:15 p.m. press conference. 

The OSU athletic department is holding a press conference at 5:15 p.m. “to announce the selection of its head football coach.”

Meyer has worked the past year as an ESPN analyst and was formerly head football coach at Florida before leaving in 2010 with health related concerns and to spend more time with his family.

Meyer will replace Luke Fickell, who has served as OSU’s interim coach for the 2011 season and led the team to a 6-6 regular season record.

Orlando TV station WKMG-TV reported last week that the deal between Meyer and OSU is worth $40 million over seven years.