Larry Bird is leaving as president of the Indiana Pacers, a person with direct knowledge of the situation told the Indianapolis Star .
Bird is "100 percent sure" of his decision, the source told the Star.
The decision ends annual speculation about Bird's future with the club, and the Hall of Famer is expected to meet with team owner Herb Simon later Tuesday to finalize the transaction, the Star reported. Bird and Simon have operated under an annual handshake agreement during Bird's tenure.
Bird reportedly has been dealing with some health issues. Also noteworthy, Bird's departure comes three days after the Star reported that his predecessor, Donnie Walsh, is returning to the club in some capacity.
Only three weeks ago at his season-ending news conference, Bird spoke as if he were returning.