INDIANAPOLIS — Tommy Lloyd is staying put.

The Arizona coach announced on Friday, April 3 he has signed a new deal to stay with the Wildcats, spurring North Carolina after he was reportedly the leading the candidate for the Tar Heels' open coaching job.

"I'm happy to announce I'm staying at Arizona. We've been able to get some things done the past couple days," Lloyd said.

ESPN reported Lloyd signed a five-year deal that will start next season with an annual average of $7.5 million. The announcement comes one day before Arizona plays in the Final Four.

Lloyd had been the big target for North Carolina, and the coach had been noncommittal over his interest in the job, repeatedly saying during the tournament he was focused on the rest of the season and not about his future. There was a report basketball icon and former North Carolina star Michael Jordan reached out to Lloyd to get him to Chapel Hill, but he said that never happened.

He said North Carolina is a great job and he was honored to be considered for the role.

"The young kid for me, the college basketball junkie watching those games at home, never would have thought something like that could have happened to somebody like me," Lloyd added. "North Carolina is a first class organization, and I appreciate them for the way they've handled this."

With the deal done, he said Arizona leadership showed a "real commitment to our program."

"Arizona basketball, you guys know what it means to me. And when I say it's a special place that always comes from the bottom of my heart," Lloyd said.

This article originally appeared on USA TODAY: Tommy Lloyd signs new Arizona basketball contract, won't leave for UNC job