Source: Davis nearing deal to coach North Carolina

Former University of Miami coach Butch Davis is close to an agreement to become the new coach at North Carolina.

Contrary to various media reports that said Davis and the Tar Heels have completed contract talks, a North Carolina source speaking on the condition of anonymity said negotiations between Davis' agent and the university are still ongoing.

A deal "hadn't yet been finalized, but it seems we're headed in that direction," the source told ESPN.com's Mark Schlabach.

Marvin Demoff, Davis' agent, told the Charlotte Observer on Wednesday evening that nothing has been finalized and said that it will be next week, at the earliest, before a deal might be signed.

"I think there's interest in both parties," Demoff said in the Observer. "We look forward to continuing discussions with that, but there is no agreement."

North Carolina is hesitant to confirm the possible hiring of Davis because it wants the team's focus to be on Saturday's homecoming game against Georgia Tech at Kenan Stadium, multiple sources told Schlabach. A source said an announcement of Davis' hiring, barring late complications, could come as early as Monday.

Coach John Bunting was fired Oct. 23, effective at season's end. The Tar Heels are 1-8, and Bunting will depart Chapel Hill with only one winning season in his six as coach.

Davis' last job was as head coach of the NFL's Cleveland Browns, which ended in 2004 with his firing. He went 24-36 during his stay in Cleveland, leading the Browns to a 9-7 record and a playoff appearance in 2002, his second season after leaving the the Hurricanes. The Browns regressed under Davis after the '02 season.

Information from ESPN.com's Mark Schlabach and ESPN's Joe Schad was used in this report.