LOUISVILLE, Ky. — Louisville and coach Rick Pitino agreed in principle to a four-year contract extension that will keep him on the sideline through the 2016-17 season.

Pitino hopes the extension ends what he called unfounded speculation that he's considering leaving the Cardinals in pursuit of another job.

Financial details have yet to be worked out, and the deal needs to be approved by the university's athletic association. Pitino's current contract runs through 2013 and pays him around $2.5 million annually. Athletic director Tom Jurich said his goal is to make Pitino's new salary competitive with the top coaches in the country.