Florida released a statement on Friday afternoon to address any possible chance that Gators basketball coach Billy Donovan would be a candidate for the Kentucky job.
Billy Gillispie was fired at an afternoon press conference after two seasons, going 40-27. This year's team finished 22-14, tied for the second-most losses in the program's 106-year history. The Wildcats also failed to reach the NCAA Tournament for the first time since 1991.
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"In response to the rumors circulating about my interest in other jobs, I wanted to address this as quickly as possible ," Donovan's statement said. "I am committed to the University of Florida and look forward to continuing to build our program here."
Donovan, a former UK assistant under Rick Pitino who was beloved by the Wildcats' fans, led UF to back-to-back national titles in 2006 in 2007. The second championship season concluded with Tubby Smith leaving Kentucky to take the head coaching job at Minnesota. At the time, the Gators were playing in the regional tournament in St. Louis. Rumors that Donovan would consider going to Kentucky didn't die out until after the NCAA Tournament concluded.
This time, Donovan addressed speculation head-on and put an end to it, immediately.
Donovan's current contract includes a clause that requires him to get written permission from athletic director Jeremy Foley before discussing other employment. The deal, which runs through the 2012-13 season and is worth about $3.5 million per year, also includes a buyout clause.
If Donovan, who owns the school record for coaching wins with a 310-125 record in 13 seasons, leaves without being fired, he must pay the school $500,000 or the total termination compensation due his assistant coaches, whichever is less.
He is also due a $400,000 longevity bonus for the past season. He will receive another bonus of $500,000 for coaching the entire 2009-10 season. He also has longevity bonuses in his contract that pay him $400,000, $450,000 and $500,000 the final three years of the current deal.
Florida finished this past season with a 25-11 record and lost 71-62 to Penn State in the third round of the NIT. The Gators had a streak of nine straight NCAA tourney bids, the most successful run in school history, before it ended in the spring of 2008.
