Knoxville, TN -- (Sports Network) - Tennessee men's basketball coach Bruce Pearl, who was reportedly being targeted by Memphis to replace John Calipari, is staying with the Volunteers with a renegotiated six-year contract.

University of Tennessee interim president Jan Simek and athletic director Mike Hamilton made the announcement. Details of the six-year deal will be released in the coming days.

"Mike has been terrifically supportive and committed to making this one of the best jobs in all of college basketball," Pearl said. "I want to ensure the University of Tennessee and its fans that I'm 100 percent committed to this school, this program and our student-athletes."

Pearl has guided the Volunteers to a 98-37 mark over his four seasons, including NCAA Tournament appearances in all of those years.

Memphis needs a replacement for Calipari, who left to become the head coach at Kentucky.

"I truly love my job, and I want it to be clear that I'm not interested in any other job," said Pearl. "There's no place in the country I'd rather be than the University of Tennessee. My children are happy here in the Knoxville community--one is in high school, one is in middle school and two are currently attending the university.

"My staff and I are building a consistent top-25 program and I'm honored and privileged to serve the greatest fans in the country. Tennessee has all the resources necessary to win championships, from our recently upgraded facilities to our ability to schedule."

The Volunteers went 21-13 this past season and finished in a tie for the SEC's East Division title.