UPDATED 4 P.M. – Credible sources say Calipari refuses counter offer from Memphis.

By The Memphis Roar Staff on March 30th, 2009

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MemphisRoar has learned that Calipari has refused the counter offer from Memphis and has chosen to resign.

MemphisRoar has now confirmed that the offer from Kentucky is in the region of $35 million over 8 years. Rumors from the Kentucky camp have a potential players meeting later this afternoon with Calipari likely present.

MemphisRoar is continuing to follow the story, including options for current recruits and new head coach possibilities.

* UPDATED 4PM MONDAY*

Going back to yesterday, sources have told Memphis Roar that John Calipari met with University of Kentucky’s Mitch Barnhart in Chicago, IL to discuss the vacant head coaching position for the Wildcats. Those events led Calipari to meet with Memphis officials and players today, which is where we currently stand.

As today’s events have unfolded, here are a few of the details that are trickling in from sources:

Jimmie Sexton, University of Missouri head coach Mike Anderson’s agent, has been contacted to guage Anderson’s interest in the up and coming opening at the University of Memphis. According to FOX13 Sports, Sexton said that he had no comment.

Other than Mike Anderson, the other name being floated around is current USC head coach Tim Floyd.

The most recent news we have received is that the current discussions between John Calipari and Memphis officials (administration and boosters) do not center on whether or not Calipari will take the Kentucky job but instead on who would take over the Memphis program after his departure. We are told that Cal is, for lack of better terms, strong-arming the boosters and administration present into hiring current UTEP head coach Tony Barbee with the promise of leniency while raiding the proverbial pantry.

Roburt Sallie, Wesley Witherspoon and Angel Garcia are all three names that we have heard that are considering a transfer when Cal does resign.

The final piece of information we have had explained is that money had no part in these discussions. According to our sources, the University of Memphis and the boosters that help support the head coaching position’s salary, Memphis was prepared to match Kentucky dollar-for-dollar.