HOUSTON -- Shaka Smart agreed to a new and extended contract with VCU on Monday after rejecting a multiyear offer from North Carolina State, multiple sources have told CBSSports.com.
The news was first reported by CBSSports.com's Gregg Doyel.
"[N.C. State] talked to [Smart] and made an offer," VCU athletic director Norwood Teague told the Charlotte Observer after Doyel's initial report. "We countered and he is staying."
Smart, 33, led VCU to its first Final Four this season.
The Rams lost to Butler here in Houston on Saturday night.
N.C. State is searching for a replacement for Sidney Lowe. Sources have told CBSSports.com that the school has seriously pursued many candidates already -- among them Texas' Rick Barnes, Arizona's Sean Miller, UCLA's Ben Howland, Xavier's Chris Mack, Memphis' Josh Pastner and Texas A&M's Mark Turgeon. All have decided to pass on the opportunity to work under athletic director Debbie Yow, whose reputation within the coaching community is hindering her ability to find a marquee coach.