Tennessee's loss is Coastal Carolina's gain. That's the way Buzz Peterson's new boss is looking at it.

"We're thrilled he's available,'' Warren "Moose" Koegel, Coastal Carolina's athletics director, said Wednesday.

Peterson will be introduced Friday as Coastal Carolina's new basketball coach, Koegel said.

After reconsidering an opportunity to interview at Florida Atlantic University, Peterson faxed confirmation of his acceptance to Coastal Carolina's offer Tuesday night.

Peterson was terminated by Tennessee on March 12 with a $1.39 million severance payoff, ending his four-year tenure with a 61-59 record.

Koegel said Peterson's lack of consistent success at UT was not a deterrent.

"I really can't speak for Tennessee,'' Koegel said. "I know it's in a very, very tough conference.

"In many ways I'm not as worried about the Tennessee situation. I looked at Appalachian State to be more of a peer institution to Coastal Carolina and he obviously had great success there.''

Peterson was 79-39 at Appalachian State and was twice named Southern Conference coach of the year.

Peterson did not immediately return a phone message on Wednesday.

UT athletic director Mike Hamilton said he was happy Peterson and his family had found a new home.

"Coastal Carolina is a school that's growing, and the Myrtle Beach area is a great place to live,'' Hamilton said. "I wish him nothing but great luck.''

Koegel said a published report of a $125,000 base pay was "in the ballpark" but said a number of perks increase the value of Peterson's total package.

The Conway, S.C., school has an enrollment of 7,000 and is close to finalizing plans for a new 7,000-seat arena, Koegel said.

"Our school has made tremendous strides,'' Koegel said. "We're very competitive in all our sports, the one exception being basketball.

"The people in Horry County and Myrtle Beach have really gotten excited about our programs, but the one thing they get a little frustrated about is basketball.

"We have to get the kind of guy in here to teach our players and get to the level we want to get to.''

Peterson will inherit a team that went 10-19 last year, but returns the Big South Conference player of the year and freshman of the year.

Mike Strange may be reached at 865-342-6276.