Tim Floyd will remain the coach of the USC Trojans, turning down the Arizona Wildcats job.
Initial reports this morning said that Floyd would be the next Arizona coach, but a 3:00 p.m. PST press conference at LA's Gaylen Center is set where Floyd will announce his intentions to stay with USC.
Arizona has options from here—perhaps Randy Bennett, a quality coach. Tubby Smith has been mentioned, as has Mark Few and Rick Pitino, all of whom will most likely not be moving.
Rumors have it that in addition to the Arizona job, Floyd was in contact with Memphis. However, the Memphis job is obviously not as desirable, and therefore not considered very much.
More details to come as they are announced!