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So When Exactly is This Going to Happen?

In case you haven't heard, Billy Donovan is yet to sign a contract extension.

But as of today at least we're hearing some rumors regarding this possible extension being somewhat on the horizon.  ESPN's Mark Schlabach, who earned so much credibility during the Donovan to Kentucky whirlwind, had this to say about the negotiations currently in progress:

Florida basketball coach Billy Donovan, who led the Gators to back-to-back national championships this past season and then turned down a lucrative offer to become Kentucky's coach, is close to signing a seven-year contract extension with the Gators that will pay him an average of more than $3.5 million per season, sources close to the situation said Thursday.

The new contract, which Donovan hasn't yet signed, will pay the coach around $3 million the first year. The contract then escalates to more than $3.75 in guaranteed income by the end of the contract in 2013-14, a person familiar with the negotiations said.

This line, though, is my favorite from the entire article:
A source said Donovan, one of only 12 college basketball coaches to win multiple national championships, could sign the contract "in a couple of days, or a couple of weeks."

Thanks for giving us a clear timetable there.

The local media surrounding the program has been quick to squash any of the rumors of the contract being signed.  While Schlabach's article only stated that the contract was "close" to being signed, both AD Jeremy Foley and Billy Donovan stated that they hadn't even met on this apparent deal just yet.

Gatorsports' Kevin Brockway:

Florida athletic director Jeremy Foley denied a report that the school and Billy Donovan are closing in on the richest coaching contract in college basketball history.

"We haven't even met yet," Foley said. "Billy just got back into town. I'm still working on the budget. Our compensation committee hasn't met."

Andy Staples:
Donovan said he and Florida athletic director Jeremy Foley have discussed parameters for a new deal, but Donovan said he understands Foley and UF president Bernie Machen have to go through the proper channels before finalizing his contract.

"Jeremy and I have not reached an agreement," Donovan said. "I know there's a process that Jeremy has to go through, and I know there's a process the school has to go through. ... I'm fine with that process."

Let's hope this is a smooth process that ends quickly.  I mean, what are we going to do with ourselves for another week or so while Kentucky fans tell us Donovan is headed to the NBA?

Go Gators!