MEMPHIS, TN (WMC-TV) - Sources tell Action News 5 the University of Memphis has offered Tennessee basketball coach Bruce Pearl a seven year, $21 million contract to fill the vacant Tiger head coach position.

The source tells Action News 5's Jarvis Greer that Pearl has expressed interest, and is expected to be in Memphis today or tomorrow to interview for the job.

Wednesday, former Indiana coach and current ESPN analyst Bobby Knight interviewed for the head coach position.

This while, Tiffany Carpenter, Tennessee Athletic's Director of Public & Media Relations says Coach Pearl will be issuing a statement himself, within the next hour committing to stay at the University of Tennessee as the Men's Basketball Coach.
Pearl is out of the State today on Business, not related to the Memphis Coaching position, which apparently he's not interested in nor is he apparently interested in even interviewing or talking with Memphis officials about the Calipari vacancy.

Your WVLT, Volunteer TV Sports Overtime Team contacted UTAD Mike Hamilton numerous times yesterday, and Hamilton confirmed Memphis had not asked for permission to talk with Coach Pearl about their Coaching Vacancy.

Coach Pearl is currently making $1.6 Million a year plus certain incentives. He's slated to receive another $500,000 in a longevity bonus to be paid at the end of the 2010 Basketball season. Pearl's current contract runs through 2014, and he received a roughly $2 million dollar signing bonus if/when his contract was ever solidified as it was reported last summer. Pearl's contract also includes a $2.5 million dollar buy-out clause should he leave for another coaching position at any school.

Comparing a "Wall Street Journal" report on Basketball Coaches Salaries, Coach Pearl ranks very near the bottom, making under $2 million a season. 11 top ranked coaches, some with lower winning percentages make more than him with Kentucky's John Calipari topping them all, making just over $4 million a year.

We'll have more on this story through-out the day on Volunteer TV News & on Volunteertv.com...