"At first I thought I would wait until after the NCAAs but this is as good a time as any," said Carril, whose team gained the Ivy's automatic bid to the NCAA tournament with the victory. "I just don't think I have it as a coach anymore. 'I don't coach like Rick Pitino, I don't coach like John Calipari, but I did once. I did have their kind of fire once."
Carril, 65, is in his 29th season as coach for Princeton, which is going to the NCAA tournament for the first time since 1992. Carril's career record is 524-272.
Sydney Johnson made a three-point shot with 1:03 left in overtime to put Princeton (21-6) ahead for good.
Penn (17-10) rallied from a 12-point deficit to force the overtime, with Ira Bowman's three-point shot with 15 seconds left in regulation tying the score at 49-49. The Quakers had won the previous three Ivy championships.