Penny Hardaway's name has swirled as a possible replacement at Memphis.
Tubby Smith was fired as the head men's basketball coach at Memphis after two seasons at the helm, he told reporters on Wednesday.
Smith finishes his time at Memphis with a 40–26 record. The Tigers reached the semifinals of the American Athletic Conference tournament before losing to Cincinnati.
Smith has about $10 million and three years remaining on a five-year contract. He previously coached at Texas Tech, Minnesota, Kentucky, Georgia and Tulsa.
Former Memphis star Penny Hardaway's name has swirled among rumors as Smith's successor.
Memphis is 21–13 on the season.