UPDATE 5:00 p.m. - Here is the full audio of the press conference the Chicago Bears held today at Halas Hall:

2:55 p.m. - The Bears just sent out this statement on Martz and Day:

The following coaches will not return to the Chicago Bears staff for the 2012 season: Offensive coordinator Mike Martz and quarterbacks coach Shane Day.

Over the last two seasons, the Bears averaged 21.5 points per game. The 22.1 points per game in 2011 was seventh highest by the franchise since the establishment of a 16-game schedule by the NFL in 1978. The 5,026 total net yards in 2011 was 13^th highest in franchise history.

The Bears offense rushed for 2,015 yards in 2011, just the second time they have eclipsed the 2,000-yard rushing mark in the last 21 seasons (2005, 2,099 rushing yards).          

“After meeting with Mike this afternoon, we both felt it was best to move in different directions,” Head Coach Lovie Smith said. “I appreciate the job he and Shane did for us over the last two years.”

1:45 p.m. - Multiple outlets are reporting that Bears Offensive Coordinator Mike Martz has resigned from the team citing “philosophical differences.” His quarterback coach Shane Day is also reported to be leaving the franchise.

10:45 a.m. - The Chicago Bears announced today that General Manager Jerry Angelo will not be returning for the 2012 season. Despite four division titles, two NFC Championship game appearances and a Super Bowl appearance many fans blamed Angelo for the disappointing conclusion of the 2011 season.

In a press release the team said Bears President and CEO Ted Phillips informed Angelo of the decision. The team should have more information today at 4 p.m. when they hold a press conference at Halas Hall. Some are speculating there could be more changes in store.