UNLV will recommend to the Nevada System of Higher Education Board of Regents that coach Dave Rice's contract be extended two years through the 2018-19 season, the school announced Saturday.
Rice has three years remaining on his current deal, which was for five seasons.
The school's announcement comes after sources earlier told ESPN that Rice was no longer a candidate for the South Florida job.
"I have great respect for Coach Rice and the job that he has done at UNLV," school president Donald Snyder said. "The extension that we are proposing will provide a great opportunity for our program going forward. We are proud of the high standard of success that the Runnin' Rebels have shown under Coach Rice not only on the court, but also in the classroom and with graduating student-athletes. While there were some disappointments this past season, I am excited about the future of the program under Dave's leadership."
Rice met with new USF athletic director Mark Harlan in Tampa on Friday, sources told ESPN. He flew back to Las Vegas on Friday and was scheduled to meet with UNLV athletic director Tina Kunzer-Murphy.
"Dave does have a solid offer from South Florida," Kunzer-Murphy told the Las Vegas Review-Journal on Friday night. "I really think that (Saturday) we'll have it resolved."
Sources told ESPN that Rice did not have an "official offer" from USF, but there was an understanding he could have the job. However, that is no longer the case, sources said.
Rice made $700,000 at UNLV. USF is expected to pay its new coach more than $1 million a year.
Rice was a former assistant at BYU who has been at the helm at UNLV the past three seasons. He is an alum who took the Runnin' Rebels to the NCAA tournament in each of his first two seasons, but the team struggled this season and finished 20-13 overall, 10-8 in Mountain West play.
Earlier this week, the Bulls reached an agreement with Manhattan coach Steve Masiello -- a five-year deal worth nearly $6 million -- but then parted ways after it was discovered that Masiello did not earn a degree from the University of Kentucky, as was stated on his resume.