Gundy turns down Tennessee offer; staying at Oklahoma State

Oklahoma State coach Mike Gundy has been offered the Tennessee head coaching job, a source told CBSSports.com Wednesday morning. Later in the day, a source says Gundy declined the offer and told UT he plans to remain at OSU.

The 45-year-old former standout OSU quarterback led the Cowboys to a school-record 12 wins and their first BCS bowl appearance last season, and finished No. 3 in the nation. This fall, despite having had to play three QBs because of injuries, the Cowboys finished the regular season 7-5. He is 66-35 in eight seasons at his alma mater.

The coach's name has come up quite a bit this month for top coaching vacancies. Friction between Gundy and OSU AD Mike Holder has added to the intrigue.

Tennessee is replacing Derek Dooley who was fired last month after going 4-7 and having gone 1-14 in SEC play the past two seasons. Sources say UT hopes to have its new coach on board by the end of this week.