Sources: Mike Anderson to get new deal

Updated: March 21, 2011, 9:05 PM ET
ESPN.com news services

For the second straight year, Missouri basketball coach Mike Anderson will eschew outside offers in favor of a contract extension and a raise from the Tigers, multiple school sources told ESPN.com's Andy Katz on Monday.

The sources confirmed a St. Louis Post-Dispatch report that the school was on the verge of finalizing a new deal with Anderson that will add two years to his current contract. Also, Anderson will receive a bump in salary to nearly $2 million, up from his current pay grade of roughly $1.5 million, the sources confirmed.

The sources said the deal is imminent and confirmed the Post-Dispatch report that the talks had been ongoing for some time.

The Post-Dispatch reported Monday that the deal had to be formally approved by university officials.

Anderson was rumored to be a candidate for the opening at Arkansas, where he was an assistant for 17 years. Arkansas fired coach John Pelphrey on March 13.

Anderson received a new seven-year deal last April after he interviewed for the Oregon coaching job.