TALLAHASSEE, Fla. -- Leonard Hamilton is staying at Florida State after agreeing to a new five-year deal.
Hamilton, 60, had visited with Memphis officials about the opening there created by John Calipari's departure to Kentucky last week.
Terms of the new pact were still being finalized Monday.
"We are very anxious to keep moving ahead as we take the program to higher heights and continue to make Florida State basketball a program of significance both nationally and in the ACC," Hamilton said.
Hamilton is 131-96 in seven seasons at Florida State after taking the school to its first NCAA tournament bid in 11 years. The Seminoles also defeated North Carolina last month to reach the Atlantic Coast Conference tournament finals for the first time.
The Florida State program under Hamilton has had a 100 percent graduation rate and the school was one of just seven schools that played in the NCAA tournament this year with that distinction.
Hamilton returns with three starters from this year's team, but loses starting guard Toney Douglas, who set a new single season scoring record this season.
"The future is very bright for our program," said Hamilton, who inherited a program that had won just 46 games in the four seasons before his arrival.
Florida State has won 20 or more games in three of the last four seasons.