Kevin Ollie signs $3 million extension to remain at Connecticut

Apr 7, 2014; Arlington, TX, USA; Connecticut Huskies head coach Kevin Ollie waves to fans after cutting down the net following the championship game of the Final Four in the 2014 NCAA Mens Division I Championship tournament against the Kentucky Wildcats at AT&T Stadium. Mandatory Credit: Robert Deutsch-USA TODAY Sports /

Kevin Ollie will not be coaching in the NBA this season or any time soon as the Connecticut Huskies head basketball coach agreed to an extension to remain with the Huskies and spurn the NBA, according to Adrian Wojnarowski of Yahoo.

Kevin Ollie has reached agreement on a $3 million annual contract extension at UConn, spurning the NBA, sources tell Yahoo Sports.
— Adrian Wojnarowski (@wojespn) May 19, 2014

The deal could be worth more than $15 million over a five-year term, according to Wojnarowski’s sources.

Ollie led the Huskies to the National Championship this past season as a No. 7 seed and was instrumental in the development of All-American guard Shabazz Napier.

The Los Angeles Lakers had been rumored to be interested in Ollie to fill the vacancy left after Mike D’Antoni resigned earlier in their offseason, but according to Wojnarowski never made a formal offer to Ollie, but the Cleveland Cavaliers were the most aggressive in trying to lure him to the NBA.

There were whispers the Oklahoma City Thunder could be interested in Ollie should the team part ways with Scott Brooks because of his relationship with Kevin Durant as a means to keep him in Oklahoma City and not pursue free agency and sign elsewhere.

This is undoubtedly great news for Connecticut to keep Ollie in Storrs for the foreseeable future and it’s great news for Ollie as he can separate himself once and for all form the rumors that he’s looking to leave for the NBA and try to sustain the success his predecessor Jim Calhoun had before his hiring two seasons ago.

Ollie went 20-10 in his first season on the bench and finished in a tie for 7th place in the Big East with a 10-8 record.

His team went 32-8 this year and finished third in the AAC but were the team cutting down the nets after the NCAA Tournament and their victory over Kentucky.