UConn's Kevin Ollie, rumored to be a candidate for several NBA head coaching jobs after leading the Huskies to the NCAA men's basketball title in just his second season, apparently will remain in Storrs.

And if the reports are correct, he will more than double his salary.

According to multiple reports, Ollie has agreed in principle to a contract extension that will make him the highest paid coach in the American Athletic Conference at $3 million per season and could pay him in excess of $15 million over five years, sources said.

The new contract, which still needs to be finalized and signed, was first reported by Yahoo Sports.

Ollie, 41, is currently in the second year of a five-year, $7.5 million deal that he signed in 2013. He made $1.25 million this season. The new deal, according to reports, would begin in 2014-15 and run through 2017-18.

Ollie led the Huskies to a 20-10 record in 2012-13, despite being banned from playing in the postseason after UConn failed to meet the NCAA's APR standards under former coach Jim Calhoun.

This season, however, Ollie's Huskies stunned the college basketball world by finishing 32-8 and winning the program's fourth NCAA title, despite being seeded seventh in the East Regional. The Huskies upset No. 2 Villanova, No. 3 Iowa State and No. 4 Michigan State to reach the Final Four before stunning the top overall seed, Florida, in the national semifinals and beating Kentucky in the title game 60-54.

The Huskies must replace All-American guard Shabazz Napier, the AAC Player of the Year, and forward DeAndre Daniels, who left a year early for the NBA Draft. UConn does return guard Ryan Boatright and welcomes another guard, Rodney Purvis, who sat out the season after transferring from North Carolina State.

Ollie, who grew up in Los Angeles, was Calhoun's point guard at UConn from 1991-95 before embarking on 13-year NBA career that included stops in 13 different NBA cities. He retired after spending the 2009-10 season with the Oklahoma City Thunder and accepted an assistant coaching position under Calhoun, replacing the Hall of Fame coach at the start of the 2012-13 season.