Per the report, terms of a new contract were agreed upon between Florida and Donovan "last summer," but the new deal didn't get done in full until February. The new contract goes through the 2018-19 season and is worth approximately $3.5 million per year.
The 48-year-old Florida coach won back-to-back titles in 2006 and 2007 and currently has the No. 1 overall seed Gators in the South region. Florida plays against No. 4 UCLA on Thursday at approximately 9:45 p.m. (See all tip times/channels here.)
At 34-2, the Gators ran the table in the SEC this season, going 18-0.
It's important to note that a clause in Donovan's old contract has now expired. Whereas Donovan nearly took the Orlando Magic job in 2007, a five-year non-compete clause was part of his deal at Florida. That is no longer in play. Donovan is a hot name for NBA jobs.
"I don't like coming out making bold predictions or statements. I would say I'm extremely happy with my life right now at the University of Florida," Donovan said last weekend.