Report: Donovan, Magic agree to nix deal; Van Gundy tabbed

BRISTOL, CONNECTICUT (TICKER) —Citing an Orlando Magic team source, on Tuesday reported that Billy Donovan and the Orlando Magic are planning to terminate the contract that the coach signed on Friday.

Meanwhile, the Orlando Sentinel reported that the Magic have offered the job to former Miami Heat coach Stan Van Gundy.

Both sides are still working out the details, according to

That report, citing multiple sources, said Donovan and the Magic have agreed upon a non-compete clause, requiring Donovan to refrain from coaching in the NBA for five years as one of the terms of his release from the contract.

After guiding the University of Florida to its second straight national championship title in April, Donovan was introduced as the Magic’s eighth coach on Friday.

On Monday, Donovan had a change of heart, leading to the Magic’s decision to reportedly let Donovan out of his five-year, $27.5 million contract.

At his introductory news conference, Donovan said he took a “long look” at the Magic job before accepting it. But apparently he should have looked longer.

Donovan, 42, had reservations about taking the Orlando opening and spent all weekend discovering a way to get out of his deal, despite the efforts of Magic general manager Otis Smith and president Bob Vander Weide trying to convince him to honor the contract.

In 11 seasons at Florida, Donovan compiled a record of 261-103 (.717). He guided the Gators to nine straight 20-win seasons and a school-record nine consecutive NCAA Tournament berths. Donovan also coached two seasons at Marshall and owns a career record of 296-123

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Updated Tuesday, Jun 5, 2007