The university will announce his retirement at a 2 p.m. ET news conference.
Brown told reporters that Meyer called him on Tuesday morning to tell him about his decision to retire after the Rose Bowl on January 1, a decision that was announced on Tuesday.
Meyer's retirement comes on the heels of a tumultuous year in Columbus, Ohio, in which he was suspended for the first three games of the season after an investigation revealed that he mishandled domestic assault allegations made against former wide receivers coach Zach Smith, who was sacked in late June. He fired assistant coach Zack Smith in the summer of 2018 when Smith's ex-wife filed a protective order after years of domestic abuse.
Meyer cited health issues after that SEC title game loss to Saban, but eventually made a decision to stay for another year, his worst in major college coaching as the Gators went 8-5 overall, 4-4 in the SEC.
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Meyer won two national championships with the Florida Gators before taking the head coaching spot in Columbus ahead of the 2012 season. The university cited that lapse in suspending Meyer for three games after an investigation.
When pressed, Meyer gave a more concrete answer. He lost star defensive end Nick Bosa to an early season-ending injury, and the Buckeyes' defense never fully recovered. Day served as Ohio State's co-offensive coordinator and quarterbacks coach in 2017 before being promoted to the primary coordinator and playcalling role this season.
The team alternated expected blowout wins with puzzling play that included a pair of one-point wins (Penn State, Maryland) and a closer-than-expected win over a struggling Nebraska team.
Chatter regarding Meyer's future increased after he looked more distressed and beleaguered than usual on the sideline during the 49-20 loss to unranked Purdue on October 20. He heads into the game with an 82-9 record during his Ohio State tenure, including a flawless record over archrival MI. There used to be people who thought OSU was above hiring a coach from I-AA as well, but that worked out okay the decade before this one.
Wilson said during Day's interim stint that he fully believes in Day's ability to lead Ohio State, and that he will be able to continue the success the Buckeyes have seen under Meyer.
Meyer's time in Florida over six years included two national championships. Meyer has about $38 million left on his contract.