Florida Gators basketball coach, Billy Donovan, will not be accepting the Kentucky Wildcats coaching vacancy despite rumors to the contrary. 

"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."

"This was the most talked about subject on the Internet Friday evening," said Don Shapiro of Gambling911.com.

Billy Gillispie was fired by Kentucky 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.

According to USA Today, 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.

Memphis coach, John Calipari, has also been mentioned as a possible replacement for Gillispie.

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Tyrone Black, Gambling911.com