Donovan says he's "committed" to UF

Billy Gillispie is out as Kentucky's basketball coach, ending a tumultuous two years at the head of college basketball's all-time winningest program.

University of Florida Men's Basketball Coach Billy Donovan addressed rumors that he is leaving the school to take the head coaching job at the University of Kentucky. 

"In response to the rumors circulating about my interest in other jobs, I wanted to address this as quickly as possible. I am committed to the University of Florida and look forward to continuing to build our program here," Donovan said in a statement released through the university on Friday.

A source close to the University of Kentucky athletic program told FOX 35 Sports on Friday that an agreement, in principle, had been reached between Donovan and Kentucky to be the school's next basketball coach.

Donovan led the Gators to back-to-back national championships in 2006 and 2007. He agreed to become the Orlando Magic's next head coach, following the departure of  Brian Hill, but in a matter of days had changed his mind and returned to Gainesville.

Donovan led the Gators to back-to-back NCAA men's basketball championships in 2006 and 2007.  The Gators have not made the NCAA tournament in either of the past two seasons.

Kentucky opts for coaching change

Gillispie was 40-27 at Kentucky and had a seven-year deal, which stipulated he would receive a $6 million buyout if he were let go after two seasons. He led the Wildcats to a 22-14 record this season and Kentucky failed to make the NCAA tournament for the first time since 1991.

The Wildcats season ended Wednesday with a loss to Notre Dame in the National Invitation Tournament quarterfinals. When asked after that loss if he expected to be back, Gillispie said the decision wasn't up to him.

"You're asking the wrong guy," he said. "All I know is to go to work, recruit, coach and that's what I did, that's what I've done and that's what I'll continue to do."

Gillispie's job security appeared to be in jeopardy after the Wildcats stumbled down the stretch, losing eight of their final 11 regular season games to squander a perfect 5-0 start in Southeastern Conference play. A quarterfinal loss to LSU in the SEC tournament followed, relegating Kentucky to the NIT.
 

Associated Press Sports Writer Will Graves contributed to this report