Enjoy the next few weeks of hoops, Hoosiers fans: What comes after is gonna be U-G-L-Y.

The Indianapolis Star reports IU point guard recruit Terrell Holloway has asked out of his letter of intent. But wait you say: How can a binding agreement be terminated by a player? The Hoosiers gave Holloway and recruit Devin Ebanks the option to terminate if Kelvin Sampson wasn’t the coach.

Read: If we decide to fire or force out the dork we never should’ve hired, you don’t have to come.

Rivals.com ranks Holloway 100th in it’s class of 2008. He told the website is still an option but he’ll talk to other schools. Translation? He’s gone. Gone, gone, gone (Ebanks hasn’t asked out yet, but is expected to. He’s ranked 13th).

Add this an IU administration still trying to figure who will lead the coach search (are you REALLY gonna stick with the guy who hired Sampson, Mr. McRobbie?), departing senior DJ White and freshman Eric Gordon, and a sluggish end to the season, and we’re writing off 2008-09. Maybe the next season too.

So, who wants this job? Sigh …