University of Kentucky Athletics Director Mitch Barnhart confirmed this through a statement released today. Said Barnhart:

“Throughout this process, our focus has been on finding the right person to lead college basketball’s most storied program. We have had productive conversations with various individuals over the last two weeks, and it’s obvious there are a number of outstanding coaches who could succeed at Kentucky. With the nation’s most passionate fan support and unmatched facilities, I’m confident we’ll find the right man.

“I had a conversation with Billy Donovan today to gauge any interest he might have in the head coaching position at Kentucky. Billy informed me that he intends to stay in Gainesville. As a former UK assistant, we wish him the very best.

“Obviously, finding the right coach is more important than finding the next coach quickly. Patience remains a priority as we continue to identify the best individual to lead the Big Blue Nation.”