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Donovan would earn roughly $3.5 million per season

Updated: May 17, 2007, 9:37 PM ET
By Mark Schlabach | ESPN.com

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 ...

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