In a statement Friday, Wisconsin athletic director Barry Alvarez said only that the job cannot be offered to any candidate prior to Wednesday because of university hiring policies and that any offer would need approval from the university's board of regents.
"We are continuing the process of finding our new head football coach. We have not offered the position to anyone," Alvarez said in the statement.
Alvarez, who flew to Tampa, Florida, on Thursday for an Outback Bowl promotion, was able to meet with Chryst, the Milwaukee Journal Sentinel reported Thursday.
The Journal Sentinel also reported that Alvarez said he planned to interview two more candidates.
A Pittsburgh source told ESPN that as of early Friday morning, Chryst had not informed Pitt officials he was leaving. A source told the Pittsburgh Post-Gazette on Friday that Chryst indicated he would take the Badgers job, but an offer could be delayed because of Wisconsin's hiring policies.
"It is our practice not to comment on the personnel searches of other institutions," Pittsburgh said in a statement, according to the Journal Sentinel. "Paul Chryst is the University of Pittsburgh's head coach, has been recruiting all week on behalf of the program and will begin preparations for Pitt's bowl game this weekend."
Chryst would replace Gary Andersen, who left the Badgers earlier this week after two seasons to take the head-coaching job at Oregon State.
Alvarez will coach the Badgers in the Outback Bowl.
Chryst is in his third season as Pitt's coach, with an overall record of 19-19. He was hired in December 2011 to replace Todd Graham, who bolted for Arizona State after less than a year on the job. That made Chryst Pitt's fourth coach in 13 months, following Dave Wannstedt, Mike Haywood and Graham, who left for the Sun Devils after a 6-6 season.
Pittsburgh will face Houston in the Lockheed Martin Armed Forces Bowl on Jan. 2, on the campus of TCU.
This would mark a return for Chryst, a Madison native, to Wisconsin, where he was quarterback for the Badgers from 1986 to '88, served as the Badgers' tight ends coach in 2002 and oversaw the offense from 2005 to 2011. His résumé also includes a stint as tight ends coach with the San Diego Chargers from 1999 to 2001 and assistant coaching positions with Oregon State, Illinois State and UW-Platteville.
As Oregon State's offensive coordinator, he oversaw a 2003 Beavers squad that became the first team in NCAA Division I history to have a 4,000-yard passer (current Carolina Panthers QB Derek Anderson), a 1,500-yard rusher (current Atlanta Falcons running back Steven Jackson) and two 1,000-yard receivers (James Newson and Mike Hass).
ESPN's Brett McMurphy, ESPN.com's Adam Rittenberg and Matt Fortuna and The Associated Press contributed to this report.