Cuonzo Martin said Wednesday he has no immediate plans to leave his position as Tennessee's men's basketball coach for another job even though he is working without a formal contract.
Martin continues to work under the Memorandum of Understanding that was signed when he took the job on March 27, 2011. The five-year agreement is worth $1.3 million annually.
Late Tuesday night, Martin was linked to the vacant opening at Illinois by the Comcast SportsNet Chicago website.
"We're building something special here,'' said Martin,who was Missouri State's coach for three seasons. "I enjoy my job at Tennessee, and I'm looking forward to bigger things next season.''
Martin's contract is being worked on and is expected to be finished within the next two weeks, according to an e-mail the News Sentinel received on Wednesday from Charles Primm of UT's Media and Internal Relations.
CSNchicago.com cited unidentified sources at Illinois and those close to Martin saying he would be "very interested" in the Illini opening.
Martin vehemently disputes the website's report.
"There was never anything to it,'' said Martin, who was recruited by Illinois coming out of Lincoln High School in East St. Louis, Ill.
Martin led the Vols to a 19-15 record and a second-round NIT appearance this season, which according to his MOU, earned him a $25,000 bonus.
Should Martin choose to leave UT within the first three years of his contract, he would owe the school two times his annual compensation ($2.6 million total). His buyout in years four and five calls for the equivalent of his annual compensation.