KNOXVILLE, Tenn. (CBSMiami) – Despite some wild reports earlier this week, it appears that former Tampa Bay Buccaneers coach Jon Gruden will not be taking over the head coaching job at the University of Tennessee.

According to Mike Freeman of CBSSports.com, a source close to the situation said Gruden told the Volunteers he would not take the head coaching job.

READ MORE: Business Owners In South Florida Say They're Struggling To Get Employees Back To Work

Message boards, alumni, and fans had been abuzz since the season ended about the possibility of Gruden taking over at UT. However, unless UT is ready to blow Gruden away with tens of millions of dollars, it appears he’s off their list.

READ MORE: ‘Pretty Big Pay Package’: Broward School Board Negotiates $743K Exit Deal For Embattled Supt. Robert Runcie

Gruden, according to CBSSports.com, want another NFL job if he is to leave the commentating position for Monday Night Football. He’s reportedly put together a skeleton staff in preparation for a return to the sideline in the NFL.

Gruden and the Buccaneers won the Super Bowl more than a decade ago. Incidentally, his former defensive coordinator, Monte Kiffin, is now looking for an NFL job after resigning at USC Thursday.

MORE NEWS: Pembroke Pines PD: 15-Year-Old Bicyclist Killed After Being Dragged Under Minivan For 30 Feet

As for the Volunteers, they still have millions to toss at another coach. The list at UT could include current coaches like UM’s Al Golden and TCU’s Gary Patterson along with Louisville’s Charlie Strong and Alabama defensive coordinator Kirby Smart.